WiseTraders Weekly Watchlist: November 18, 2024 – November 22, 2024
The main indices and many stocks peaked at overbought levels early last week, but many stocks still have room for deeper pullbacks to Key Levels. We’ll soon see our preferred setups as we enter the Post-Earnings phase, though short-term choppiness is likely. Our focus remains on clear breakout setups near Key Levels and reversal setups for overextended stocks far away from those levels. Here are four stocks to keep on your radar this week:
AMT (bearish) – Weak post-earnings action and huge selling action resulted in a major gap down below its 200-dma Key Level. Coupled with a negative OVI, this looks poised for further downside on a break below $190.
ES (bearish) – After failing to break above its 50-dma, the stock is now finding support around its 200-dma. Bearish Big Money Footprints, including a negative OVI and Shrinking Retracements, suggest further downside if it breaks below $60.
HAL (bullish) – Forming a post-earnings consolidation around its Key Level with several bullish Big Money Footprints visible. Looks promising on a break above its current consolidation, but as with other oil and gas connected stocks this may need a bit more time.
OEC (bullish) – A bullish OVI post-earnings suggests possible bullish sentiment building in this stock. This, combined with a recent thrust above its 50-dma, indicates potential for further upside on a breakout.
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