Stocks that are Fighting the Downtrend

Hi everyone,

Below is my weekly watch list with commentary. Before we dive in, make sure you don’t miss any future ones by subscribing below

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Situational Awareness

Short term: Down (Still below the 5 SMA)

Intermediate Term: Down (below a declining 21ema)

Mid Term: Mixed (below a rising 50sma)

Long-term: Down (Below a declining 200 sma)

Before going through this list keep in mind that the market trend is negative. If you have a longer-term timeframe, cash is likely the highest probability play.

For my full market commentary see here:

We are Oversold in a Downtrend. What Next?

Watchlist

ARRY - Solar remains a focus. Not a great bar Friday but it’s holding near the 21ema as this builds a short base. Losing Friday’s low would take this off my radar for the time being.

ENPH - near the lows of this tight base. I wouldn’t mind a shakeout and recovery. Ideally, the volume would be lower on this recent pullback.

STEM - Friday’s bar is a bit weak. This also has overhead supply to deal with. AI energy storage.

SWAV - holding near highs. Still above the 21 ema and AVWAP from the breakout day.

RYTM - This stock has come a long way and could need more of a base. If it does break down I’d expect it to happen fast. So far however it is holding the 21 ema.

TMDX - some negative bars recently but holding the green line.

IMCR - a lot of stocks in this group look similar. Ideally, the recent pullback would have been on lower volume.

CCJ - Strong volume last week. Ideally an inside day or shakeout below the pivot.

PDD - Breakout through a pivot last week

TH - Pulling back towards the 50 sma.

Some secondary names:

CSIQ MRSN KRTX CMG AXSM SHLS NBIX CPRX FSLR AXNS DAWN PTCT OXY GFS PLRX GLNG ALNY CELH

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Have a great week!

Richard