Stocks On Watch: $NIO, $DKS, $DKL, $ONEW, $HIBB

Trading

Let’s go over some charts that I’m watching for the coming week.

First off is NIO, they unveiled a new electric car as well as other key battery and autonomous driving technologies at its annual event Saturday.

The Chinese rival to Tesla showed off its first electric sedan, the ET7, at its Nio Day, adding to its lineup of three electric utility vehicles, which saw sales more than double last year.

On the chart you can see a beautiful technical breakout on Friday anticipating the event on Saturday. It gapped up a little above the short 4 day handle and moved over earlier high at 57.20. The volume was already decent, especially in comparison the the last period.

Expecting to gap-up again this Monday.

 

The next stock on my watchlist is DKS. It showed a strong week with good volume starting at the beginning of the week. Than it continued to gradually go up into the end of the week.

The ideal buy point was at 57.96 on Tuesday the 5th. Which gives you an profit of just over 10% already.

Another following buy-point can form now it is just breaking through the 52 week highs. You might want to look for a short pull-back since it already had a few strong days which can cause a little dip when it wants to go higher.

 

Then let’s have a look at DKL. This one has formed a very big cup and handle pattern after a 80% drop last year.

It has recovered nicely and now is showing more strength looking to break out further.

The volume last Friday was a massive increase over it’s normal trading volume. Which is another strong signal of institutional buyers interested.

Perfect buy point at 32.94. Now looking to break out it’s 52 week high of 34.91.

 

Another almost perfectly formed chart pattern comes from ONEW. Is has formed about an 100-day cup with a 40 day handle that is looking at break out here.

As you can see ONEW also had a big drop in March but recovered strong as well.

This consolidation pattern looks strong but will need more volume coming in to support a strong break out. On watch when that happens.

 

Last one for this weeks new watchlist is HIBB. This has another nicely formed base that looks like it is getting ready to break-out.

The current base is formed after a strong recovery from the March crash, as a lot of other stocks did.

Near the end of August I traded it already when it formed an earlier base and broke out on strong volume. That trade resulted in a 100% profit in about 1.5 month.

So HIBB has shown that is has the potential to run up nicely.

Last Wednesday was the ideal buy point at 51.07 when it broke the high of it’s handle with stronger than average volume.

The previous high of 55.96 is the next breakout it is looking at that can offer a new buy point, or to add to your position if you already bought it.

 

Have a great week! And let me know what you are watching.

Download the
CANSLIM Chart Book

Download the

CANSLIM Chart Book

Downloads

You have Successfully Subscribed!

Pin It on Pinterest

Share This