Big Picture Set Up
Took some profits in AMZN as it ran up to the prior high and lost momentum, after barely being able to pull back, it is worth a shot to be apart of the next attempt at blue sky's vs the recent pivot low.
DIS continues to flag out in a tight range as the 200 day catches up, was a bit early on the first buy, will add above $178 when its ready.
This GILD has been basing for almost 4 years now, so this is no one we really need to rush into as this is a weekly chart. In time we want to be ready when it wants to enter the breakout stage.
Was a bit early on the INTC buy however it continues to put in a higher low as it stays above the 200 day, will add above $58.
Same $132 stop after it put in a high lower and new all time high.
Stop still the same vs $98, giving the winner space to continue to inch higher.
NFLX was basing in stage 1 under $510 and has just started to enter stage 2 as it has broke out recently and filled the gap. There is still a high probability that it will come back to retest that $510 area before making a real move back to highs.
Started a position in RCKT while it continues to base out with a stop vs $42, in time will look to add above $48 as it leaves stage 1 and enters stage 2.
SNAP has finally left its current basing stage and has starting to shift into its breakout stage, as long as the pull backs put in higher lows, we should be patient, for now the current pivot low is $59. The first target to take profits should be the retest.
UBER still flagging nicely in this $4 range as it continues to set up for a move back to highs in time.
UPS is still forming a nice wide flag in this $30 range, if/when the time comes that its ready to take out new all time highs, I will look to add to this swing. For now just being patient.