WiseTraders Weekly Watchlist: October 01, 2024 – October 04, 2024
A flat week that was anticipated, one notable event was China’s stimulus package announcement, which sent China-related stocks soaring. Most of these stocks surged without prior consolidations or warning signs. This week, we anticipate some retracement, likely a temporary pullback. Further upside may follow, potentially as the upcoming earnings cycle begins. Here are four stocks to keep on your radar this week:
CTLT (Bullish) – This high OVI correlation stock is forming a bullish pullback consolidation setup around its 50-dma. Looks promising on a breakout.
INTC (Bullish) – Needs to complete the consolidation and then break out through Friday’s high, but the potential is there if it can stay above its 50-dma.
IQV (Bearish) – Needs to breach its 200-dma and formidable support at $230 to become a bearish play, but the potential for a decent drop is there if it does.
KR (Bullish) – A prolonged sideways move after breaching its 50-day Key Level with a post-earnings breakout, this grocer looks poised for further upside.
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