• rxstocktrading

Actionable Setups for 9/27

TSLA: This past leader is trying to break out from a long-term consolidation. Strong move on Friday ahead of FSD button release. While it is surrounded by controversy and strong opinions, I think if it got past one major resistance on Friday. If it can breakout past $781 then this could provide us a nice entry

MELI: This Latin American E-commerce leader is forming a beautiful cup and handle formation. I like that the volume is drying up in the handle showing that there is no heavy selling pressure. The 50 DMA is also catching up and provides a good support level below. The sales growth has been great with the last three quarters being 97%, 111%, and 94%. Earnings have been spotty due to the pandemic. The roundedness of the large cup is good as it likely shook out many weak holders.

DEN: As oil names continue to be gain momentum, this IPO name is forming a stage two cup and handle formation. It had an amazing run this year and the recent cup formation looks great. This could provide diversification for us in an industry that is gaining traction once again.

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