The equities market continues to be overbought, but no one seems to care. It’s becoming more and more important to set stops and watch for volume selloff signals. Don’t give back everything you made in 2019.
A few long side setups I’ll be watching on Thursday:
ZM – Although ZM has pulled back significantly from June highs, it appears to be putting in a bottom and I’m a fan of the high lows from Oct to Dec. Watching for move above sma50.
SIEN – Setting up nicely for a possible move.
STNE – Similar consolidation pattern seen in SIEN
TECH – Watch for 222.65
I mentioned a few others in Tuesday’s tweet:
— ryan (@ryanmathews) December 31, 2019