A number of stocks on the list (CRM, AFRM, ZI, FTNT) are pulling back a bit today, but are still above their 10sma. Is this an opportunity to add to positions or would you recommend waiting to see if they find support?
Each stock is different, and this rotation may take a few days.
CRM I like this stock as a long term leader, and would expect it to find support at its 10ema. Wait for the bounce though. CRM is trading 1.6% above its 10ema. The weekly chart shows us the bigger picture.
ZI This stock is 2.4% above its 10ema. An add-on buy point would be as it bounces off that support. We ned to see that bounce though.
FTNT This stock just broke out of a base. But, it may return to it original buy point (round trip)? It is trading 4.0% above its 10ema which is rising quickly. Wait for the bounce off support as it may decide to form a high handle.
AFRM This one looks ready to pop soon, and is different from the other three as it already traded down to its 10ema. This is a fast moving stock, and that cup pattern has a buy point at $146.90 where it traded down to today. Of these four stocks this is the one closest to a buy point. In fact, I may need to add-on just looking at this chart😂
All four of those weekly charts look good! We just need to display some patience and let these stocks work for us.
Regards,
Marty
Marty - Thanks for your detailed response. Very helpful and much appreciated!
