Happy Sunday, friends! Here's a list of stocks to watch during the week ahead as potential trading ideas. They aren't commonly watched names, which is where I generally like to focus as there's more room for market participants to "catch up" to the idea.
CENX is breaking out of a pennant pattern, above all major averages and has a very bullish look to it. The key upside level I'm watching here is $13.94 to take off my core. I would begin building a position here and add to it over the next two weeks.
I would guard my entire position (or runners if that is all that's left) by stopping out below the 50-day moving average. I don't want to be in this one longer than 2.5 months as earnings are coming up after that.
GDOT looks like it is putting in a bottom here, but I want to see it break above the 50-day moving average. From there I think we could have room all the way up to the 200-day moving average. I would begin building a position on a breakout and add to it over the next two weeks.
If I enter this trade, I would use the 50-day moving average to guard my risk, and I wouldn't keep the trade on longer than 2.5 months as earnings will be coming up not long thereafter.
OGS is breaking above this descending triangle, the 50-day moving average and seems set for re-testing the 200-day moving average here. I would begin to build a position here, adding to it over the next two weeks. My core would come off on a re-test of the 200-day moving average.
I would guard risk using the 50-day moving average for the entire position or just the runners if that is all that's left. I would not want to be in this one longer than 2.5 months due to earnings coming up after that time period.
I share ideas like this on our Discord server regularly as well. If you have any questions or feedback let me know!