Although the market keeps going up against all odds, I still am looking at these 4 split, 2 long and 2 short.
First let's look at $AMZN
Friday, this name zoomed up well over 2%, over 309.50 resistance and into all time highs. All this and still with tiny margins and no actual profit to speak out. But $AMZN continues to trade as if it is going to be making more money than any other company any day now. I am not going to be chasing this one out of the gate but if it dips to the breakout support, I would definitely be adding.
This name is hitting what I think it a long term up-trend line. After selling off after earnings and not being able to fully recover, I am watching this line for a break and a possible short. 100d SMA would be a target although I think it could go lower to the previous hammer low from 6/6 16 at 847.00
This name I am looking at only because it is breaking out to new highs. Volume is up in the breakout but not as much as I would like to see. I am very hesitant with earnings coming out on the 1st of August. I will probably avoid it until earning are out but it is definitely tempting.
Strong name that is not an easy one to short but I am watching the break below the previous break of 248.00. Volume was pretty huge on the way down and I am looking for a target at the 50D SMA or the lower upward trend line. I wouldn't stick with it too long given its previous strength and volatility.