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hey everyone it's Evan here from the trade risk on Tuesday July 11th we're intraday right now got a couple of hours before the market close and I threw out a question on Twitter stock twits asking for your tickers what you guys were watching what you wanted to get reviewed in this video and I got a very fast list here so that tells me that many people are bored on this summer summertime trading light volume sessions last time um you know I think I got four four or five tickers last time I asked this and and this time I got 20 and just the time it took me to to go to the kitchen and come back so um I'm going to try and talk quick we get a lot of names I might break this up into two videos if I missed you sorry I probably um may have just cut you off just because uh too many tickers uh were coming in so let's let's jump into it so the first um was Bitcoin and uh I think gbtc was the ask and I'm going to go right to sort of the horse's mouth here and go right to coinbase bitcoin Market I'm going to use their exchange here uh and I'm looking at trading view for this so this is the chart of Bitcoin here this is a weekly time frame and you can see just this year from 2017 we've gone from approximately $800 all the way up to $3,000 so an incredible run and we're currently uh in this consolidation phase which I view is extr extremely healthy so on the weekly chart you can see we're kind of just in this triangle here we're tightening up over the past call it 6 weeks or so we've just Consolidated between more or less 2300 to 2800 that's where most of the volume is taking place if we go down to a daily chart you can see this is what things look like right now so clearly uh we have some support here on this trend line we've had some wash out lows back from the 27th of May uh the uh June 15th and then more recently we're kind of coming down and challenging that trend line so uh you know for the bullish optimistic uh most bullish case here we would say let's hope that Bitcoin holds this trend line and then eventually gets this breakout higher nice continuation pattern um if that's not the case if we do start to break down I mean again just keep the long-term in context here uh we've had basically a what a 400% move this year or maybe more or less I don't know my math could be off right now but you know a 61.8% retrace would would really bring us down to call it 1,600 so to me Bitcoin uh let it consolidate let it pull back let it take its time because we do have this just very bullish long-term Trend in place so um that's the way I would approach it again if you're if you're trading this more actively then yes you can use that daily time frame if it starts breaking below this trend line here then you have some shorting opportunities if you want to play that momentum to the downside 8 and 20 period are lower here bearishly aligned on the daily chart so guess it depends on your time Horizon and depending on how active you're looking to be in this space so that's my thoughts on uh Bitcoin let's get back I think everything else is a regular stock no cryptocurrency besides Bitcoin so next up is Costco and again um I'm going to assume everyone's kind of looking at a daily time frame here so that's the Assumption I'm going to make if you're day trading if you're looking at something for an investment then uh you know the opinion or sort of time frame strategy is skewed just a bit so um you know just a friendly reminder on that so next up Costco so Costco here we're going to look at a weekly chart first and this thing has been under some selling pressure notice the uptaken volume here so we've seen a very violent move off of uh the highs here that we were at just a couple of weeks ago so the way I view Costco here is um you kind of have this trend line channel that comes in uh again that's probably a little more visible on a monthly chart but you have this sort of trend line here that's that kind of comes in and and connects all these little wash out lows from the past couple of years and you can see we're just coming into that right now I'd also just pay attention to this uh more or less this very flat um horizontal level of support this area of support so again um for those of you who have followed my work I don't look at things in an exact formation I'm looking more at areas and kind of draw the lines with crayons but anywhere from 140 to you know call it 14 5 anywhere in here this this could be a magnet for Costco I know a lot of people are looking to buy the dip maybe sentiment isn't yet bearish enough here I think a lot of people want to get excited want to get involved in this name rightfully so uh and it is extremely oversold but um I would still uh personally I would still be looking at maybe further wash out down to 140 145 to see that max pain kind of get inflicted it is oversold though again tactically if you're looking to sort of get more um you know action out of this you you could probably be involved in in in this spot now maybe looking for for some bounces along the way but I would look at these bigger targets down here right around uh the lows from from 2016 or so so that's Costco um next up IBB and these are all the tickers that came in through stock to it so I'm going to go cover these first so IBB um I'm involved in it we're long it so we're long IBB as a disclosure so weekly chart you can see here we had this great volume expansion break out uh for the week of the 23rd of June very high volume above a significant level and we're just in the process of consolidating right now so for me I'm looking for that higher low to get put in I'm looking for dip buyers to basically step in here now we got involved in this I think it was back U it was back on one of these days and basically right where price is trading now is I think where where where we are long um so it is taking a little bit longer we didn't get you know quite a v-shaped rally or or an immediate dip by it is taking its time here here so uh something to pay attention to but you know again I'm sticking sticking with this long for now um if we started to break down and trade you know back down to call it 304 or so that'd probably be my level to exit from sort of a tactical momentum swing trading approach but um again IBB I think is doing all the right things uh that it should be look at the volume pattern here on the daily chart it's tough not to not to get excited when you see something like that break out above a large uh you know a large level pull back to the 20 period letting it catch up so I like it I'm long it and hopefully it'll continue to work so that was IBB next uh let's go to fslr this is First Solar so weekly chart will start there first you can see 8 and20 period bullishly aligned we're off of the lows we're trending higher here so I do like that uh we do have some resistance here this this uh this pivot High here about 4250 or so from the October 26 levels 2016 levels that's right above us so maybe a slight concern there you can see um we had this nice move higher throughout may we pulled back we broke back out and then we're kind of just hanging out here so I don't want to see a roll over um you know the fact that we kind of broke back above these highs here and then just went sideways again as as opposed to kind of continuing strong that maybe is a slight little worry there but uh I I think everything is fine here uh from the weekly chart and I think even from a daily chart I like it uh I really just don't want to see a complete roll over here so really if we lose $38 I'd call it is my Line in the Sand again depending on how tight you want to manage this trade you could loosen that up but as long as we're above $38 I'd give you know I'd give it the benefit of the doubt and I like fslr but if we start to roll over here we lose you know all of this Supply here at highs then you know we'd have to look back at $35 as a potential retest so I like it above 38 let's see if it can continue uh AG TC so here is one I have never heard of before and I didn't really look at any of these beforehand so um I didn't do any prep for this uh so agtc this is um this is definitely not my wheelhouse this is a $90 million company so I don't traditionally look at stocks like this particularly biotech you can see on the monthly chart it's been just basically uh a spiral lower if I look uh back on the daily chart you know I I I just I don't see much here uh it's just been a persistent um downtrend maybe if we were to throw on macd or RSI there's probably some RSI divergences that might be you know some momentum divergences that might be triggering right now as it comes back and retests these lows so that's all I'd give you uh if we can hold on to these lows if we can actually you know find some support here in this stock that would be the first step that I would pay attention to so that was agtc I think that was everything from stock twits uh or at least that's where I cut it there may have been a couple of more so let's get to Twitter so uh swi so this is Sierra Wireless here if we go to the weekly chart you can see I like the pattern here I like this volume on this upside breakout throughout the beginning of 2017 we've gone sideways we've held high and tight um you know I I I like the I like the look here on the weekly time frame don't want to see it get too much weaker right we don't want to see it for my preference set $27 that would be a big Line in the Sand there if it started to roll over that would just give me more pause more concern doesn't mean the whole trend has to reverse just tell me that it's probably in for a choppier sideways kind of range uh so that's the weekly chart I like it daily chart I think you just refine your levels here so yeah again I think 27 is pretty is is a pretty good level um if it lost that i' I would be much less interested um although the trade maybe would not be over but um I like it you can see it's starting to perk up now uh depending on if you're involved in it already it does make sense versus 28 if you want to add to it above $ 2950 $30 that makes sense too so swi Trend momentum it's there uh let's see if it uh just holds up going forward next Cen so here weekly chart um wow this one so um not familiar with this name so this one here I mean seven years it it it hasn't been able to break out here so this one definitely got that sideways gradual grind higher here but uh clearly this 27 call it $28 is a huge level for it going back uh you know 7 years now so for me uh this one you it's kind of an interesting one this probably wouldn't be on my trading vehicle look how many Es and Float I mean you know there there's a lot uh there's a lot of back and forth here on this weekly chart so um it just be a little suspect there but on the daily chart got this Gap higher from June it's holding up you kind of got this double bottom here where it looks like this Gap wants to hold so again I think if we're looking at levels to trade against I think the levels here are pretty clear 2450 24 and A4 I think if it's above there I think this could you know continue to to try and work itself higher we're at the top end of this range so maybe we get you know maybe this time is different maybe we get the big breakthrough here for c um Above This 2027 level or so um but for me probably not my Prime uh type of trading candidate so that's C next uh spwr so here's another solar name I know these have been hot here again weekly chart you got the nice kind of volume pushing off these lows youve had a nice run throughout um you know throughout basically since April of this year uh we've traded from six all the way up to $9 so nice gain there daily chart uh again holding up uh you know it's trying to emerge from this from this pattern here I think this $9 level 9 and A4 level this is you know a pretty important level and and the Market's clearly telling us that since October of 2016 we failed we failed we failed so this has been resistance we did get above it briefly but now we're back below it so again I would really want us to see us back above 9 and a quar or so I like the overall structure but uh I'd like to see a little more proof here uh before I would really want to get involved in this so uh that's my take on at 9 and a qu that's that's more or less the level uho this is Momo so this one here I've been watching this one myself weekly chart thing is beautiful uh you can see nice uptrend here we're at all-time highs good volume pattern a lot of volume here on this recent right side as it's pulled back though that's not ideal uh but it is holding up right now and it's tough to uh argue with price right here so um you know $35 $36 is a pretty clear support level uh it's trying to lift right now not sure when earnings are and I don't I'm not sure what earnings are on any of these companies so again uh keep that in mind as we're going through all these check those dates because we do have earnings coming up um but Momo I like it you know it's got Trend it's got momentum so it's tough not to like it Tesla I think this came up on a couple of different um requests so for Tesla um you know so all-time highs recently right strong performer has had a Monster Run for most of uh all of this year basically we got all the way as high as up to about 387 or so and then we came kind of crashing down pretty hard pretty high volume over the past several sessions now for me personally this was a canid it for me below 300 I was looking for that extreme kind of wash out and I was looking to play any type of reversal off that you know below $300 we got close we got down to about 303 uh before it ended up reversing yesterday and now it's come back up here and filled the Gap so for me from an active swing trading approach um it's it's still hands off right now this high volume breakdown I want to see the dust settle a little bit more uh this bounce here is is warranted it was extremely oversold it kind of came into this $300 level of support So this bounce makes sense let's see how much more of a bounce it can get can it get back up to some of these fast moving averages does it roll over from here immediately I would ideally like to see even a retest of uh this 300 level or maybe just more sideways some more proof that it's really ready to stabilize here so for me um the reversal the you know the the the quick High momentum Snapback reversal I was looking for under $300 it happened above it so now it's just a waiting game I'm not involved in it weekly chart again you can see there's plenty of support and reason to bounce over here so um I would not be surprised if it started to lift but from my strategy approach I just don't see too much with it I want to respect this breakdown and let the dust settle If It Moves sideways builds a base and then starts to leg higher again that might be a new entry for me shortterm you your day Traders or even shorter term one two day pops uh it makes sense there's probably plenty of action here for Tesla next up MDR so oil and gas name weekly chart you can see uh is in the process of making higher lows higher highs pretty much uh you know you got a kind of this this top here that it's uh you know trying to get back up and and uh get to retest $6 or so that's the recent higher low there on the weekly chart and then on the daily uh we just broke up above the $7 level nicely resistance here of a multi-week range so I do like this breakout above $7 I like this potential higher low here so it's back in motion to get to these uh 2017 highs I like it so uh MDR I think uh looks pretty good next up ntees so ntees here is um again uh in the tech sector weekly chart you can see this thing up and to the right looks good higher lows higher highs on the daily chart had a bit of a pullback here off of uh these 337 highs that it made and it's trying to lift now it's not um I I don't see any just again per my strategy per my setup I don't see any glaring kind of buy entry clean setup here uh but it is acting well it's doing sort of everything that it needs to do so um I like it from a trend perspective momentum looks like it's regaining it now so again I'm a fan of getting back above uh bullishly aligned 820 period moving averages so I would need a little more time there but uh again I think it's a pretty good candidate Alibaba so this is one again disclosure I am long so um I of course like it if I am long um if we scroll out here look at that Weekly chart you can see just a monster move higher here over uh this course of this year and recently it's put in this nice consolidation here for about uh I'd say what a few weeks or so all of June basically and just today it's starting to poke its head above um and and potentially making new all-time closing highs so I like Alibaba again I'm long it we got long yesterday actually we got long yesterday cheated a bit on this breakout right didn't quite get that that new all-time high breakout like we generally wait for or sometimes wait for but I liked the resolve of sort of this double inside day uh to the upside so we kind of had those two inside days nice strong close yesterday showing some out performance so that was our entry we got in yesterday we're long at looking for more uh two two left uh Amazon so Amazon next here weekly chart let's zoom out on it's been a complete monster it's finally stalled out a bit at this $1,000 price level and you can see it's just kind of been choppy up here for the past you know six or seven weeks or so to me um I I don't see too much of an actionable spot right here we're kind of just in the middle of a range um if it breaks out again it's it's it's you know I I don't see a clear setup here we got earnings coming up soon so um I think above these highs above $1,000 and what 12 10 12 or so 1015 whatever those highs were um again from a trend in momentum standpoint it's tough to not like it on the long side uh but for me I would like just a little more sideways a little bit tighter action I like to see this compress a little bit more um if it just started to race higher above a th then um you know it's probably going to do it without me but I like it tough to go wrong with uh fighting it and then finally ctsh so not all that familiar with this one let's go to weekly chart here you can see back to the highs of 2015 or getting close to it again these are all unadjusted charts for dividend so if you're looking at a different platform your charts might be skewed just a little bit when looking at those long-term time frames so ctsh we're getting back up to these prior highs there's uh likely to be some some resistance up here it's had this nice move uh very sharp move up throughout April and March I'm sorry April and May and um it's consolidating so I like uh it's got Trend in its favor it's recently Consolidated here it's got some clear levels over here so I like it for that breakout or for kind of buying at the bottom end of this range or buying a breakout through these highs I think it looks good there ctsh on multiple time frames so that's it thanks everyone that endured this very long um video thanks everybody for participating this uh killed some time in my day as markets are pretty slow today for some of my Holdings and um I think that's it so uh thanks again and if I missed your uh ticker I will double check those streams maybe I'll put out another video later today so thanks again enjoy the rest of the day and talk to you again soon
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