Appreciate your thoughts on these stocks, look like cup w handles on the weekly charts?
Also would be a great addition if you could capture your holdings on the updates, atleast the weekly one if that simplifies things?
Thank you for the questions!
CFLT This stock broke out of a stage one base back in May and ran up to $41.22, and has since returned to its pivot area. The problem with this stock currently is that it is trading 8.0% below its 50sma. I would like to se it show some relative strength and rally back above that level. It has shown the ability to move quickly when it does move.
IOT This stock formed a double bottom base and broke out on September 1. The breakout failed and now it is trading 9.4% below its 50sma. These software stocks typically move together. Either they are in favor or they are not. Currently, the institutions are not buying these stocks with tepid earnings and sales growth. But, that can change in a hurry.
P.S. My current holdings are as follows...
40% invested and will increase my exposure when the Nasdaq trades above its 50sma. I like META GOOGL NVDA but their earnings are soon, and I must wait for the new data points.