Weekly Focus List

March 6th 2022

Hey everyone,

From now on I will be sharing my focus list each weekend along with short commentary. The charts are from MarketSmith which is sponsoring this post.

Currently the market is in a correction. I will most likely just watch to see how these setups develop. I included some promising IPOs to watch and stocks showing RS.

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BROS

BROS has shown RS versus its IPO peers by holding above the IPO week low’s and forming a higher low during the market’s most recent pullback. This stock showed significant RS Thursday and Friday. It has great fundamentals and I’m watching to see how it acts versus 50.

CDEV

Oil and gas has been in a strong bull market. The high volume to the downside last week concerns me but I am watching this versus 8.73.

FANG

Another oil and gas name, I see great growth and fund ownership. I’m watching to see how it acts against the pivot and 140 level.

LNTH

The strongest stock in the market recently, I’m watching to see if will form a setup and consolidate a bit. Great growth numbers and estimates!

NARI

NARI is in the same group as LNTH and is pushing towards the top of a Cup base within a longer term consolidation. I am watching to see if it forms a handle here before attempting to breakout.

NVCT

This is a speculative IPO play that reminds me of TSP. I am watching to see if this can tighten and form a clear pivot.

PANW

PANW was powerful off the bottom on large volume but was weak on Friday, can it build a high handle and retake the pivot?

SG

SG is a recent IPO with a strong earnings gap and sponsorship. I’ll be watching to see how it acts versus the 50 day moving average.

SLCA

Strong breakout and now a tight consolidation, can it push out of this flag?

VNOM

Another oil and gas name. I’ll be watching to see if it can hold 30 and break above the pivot.

ZIM

Not great action Friday, but overall ZIM is very strong. I’ll be watching this one’s earnings reaction.

I hope you found this post helpful! Let me know your thoughts on these setups and drop one stock you are watching in the comments below.

Take care and feel free to share this post!

Best,

Richard