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A Few setups for the coming week - Don't worry, the world will not end tomorrow.

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Tesla, Inc. (NASDAQ:TSLA) bounced off of its round number support line at 800 on Friday, buoyed by bargain hunting. The bulls must regain the rising EMA200 to stem the bearish tide and regain some bullish momentum. Short and medium-term momentum remains very oversold so there is the potential for a short term swing play higher. Immediate resistance lies at 886
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Apple (NASDAQ:AAPL) bounced strongly on Friday following a great earnings report on Thursday evening, climbing as much as 7 per cent in an impressive $10 rally from its early lows. I wouldn’t be surprised if it makes new highs next month.
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Cenntro Electric Group Ltd (NASDAQ:CENN) has been falling dramatically for the last couple of weeks, without much of a rally in between. As a stock falls in price the likelihood of a big bounce increases, the further the fall the more likely a bounce. I think that is what will happen to CENN in the short term. From a technical perspective, the daily chart is displaying a positive divergence between MACD and price. This combined with RSI at extreme oversold levels, is an indication that stock may turn up and initiate a bounce to touch initially the declining EMA9 at 2.20. Watch it closely. This is a spec play so position size matters.
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Skillz Inc (NYSE:SKLZ) fell nearly 50% over the past 4 weeks. I think it’s worth watching for a bounce at current levels. Sure it could drop more, but it could also rally hard to $6 or better. At $4.3 a share and considering SKLZ’s stock was trading well over $10 last month, the risk for further decline is outweighed by the potential gain an explosive bounce would provide. Plus, the stock is extremely oversold, which means an upside correction could begin at any time.
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WiMi Hologram Cloud Inc – ADR (WIMI) is in the midst of an amazing fall from its declining EMA200 located at 4.38, you would have to think it will get a decent dead cat bounce at some point. Just six days ago someone was willing to pay $3.35 for this stock, that same person may be willing to pay $2.63 for it now, which would represent a decent recovery from Friday’s close. WIMI seems to be one of the METAVERSE plays to watch in 2022. Last week WiMi HoloAR Lens was approved by the Federal Communications Commission to Enter the U.S. Market. Watch it closely. I have been accumulating.
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I am not putting Context Therapeutics Inc (NASDAQ:CNTX) on the same pedestal as SKLZ, but I am saying that I have a good nose for both stocks. I can sense the capitulation at current levels and think that a sharp rally could follow over the next few sessions.
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Affirm Holdings Inc (NASDAQ:AFRM) broke the upper line of the descending channel on Friday. If the stock regains the $61.75 level, could swiftly move to $75
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General Dynamics (NYSE:GD) Setting up nicely for new highs. Breakout watch over 213.62
Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting AC Investor Blog.

AC


Source: http://ac-investor.blogspot.com/2022/01/a-few-setups-for-coming-week-dont-worry.html



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