Apr 1 Prep

Happy Easter everyone! Before I head off and spend the rest of the day doing family stuff, I figured let’s see what setups the Easter Bunny has brought us.

Looking at the index and stock charts, it looks like the positive momentum from Thursday’s close should carry into April, despite the markets remaining significantly overbought.

LONG Setups:

• RDN – nice consolidation pattern with a strong close on Fri on higher volume, expecting a move to 11+
• SLC – bounced off support at 50dma and 22, expecting continuation to 25-26
• DDD – bounced off support at 200dma and 30, daily chart indicating this is the start of a move higher toward 50dma
• BIOS – continues to consolidate in a high narrow flag, but pattern becoming a little long in the tooth. Needs to move over 12.80 soon or this pattern will fail
• PANL – oversold long setup with a bullish reversal bar, expecting continuation to 50dma
• ANIK – coming out of a big bullish flag on daily, expecting continuation to 15+
• REGN – strong expansion bar on big volume indicates a likely continuation higher to 180+
• SSYS – consolidating around 75 and 50dma, expecting a move out of this pattern to 80+
• CVLT – remains in a bullish flag, expecting a move higher through 85
• MX – somewhat sloppy flag, but strong price action, expecting a move higher to 18+
• GNRC – narrow consolidation above 20dma continues, will be looking for range expansion through 36/50dma
• BCEI – constructive pullback to 20dma, expecting bounce
• SODA – narrow consolidation around 50 and 50dma, expecting a range expansion move toward 52.50
• PJC – oversold bullish setup, expecting a move through 34.50 toward 36+

SHORT Setups:

• CRUS – continuing to form a bearish consolidation pattern and recent AAPL weakness is not helping, possible downside to 20-21
• ISRG – oversold bounce from 455 running out of steam, expecting additional downside
• CF – still holding the 190 level, but the bearish reversal bar indicates a likely move lower toward 185
• ARUN – narrow consolidation around 20dma failed to the downside, likely continuation to 50dma
• LNKD – consolidation around 20dma seems to be losing steam, a move under 175 indicates likely downside to 170-171
• LOW – bearish consolidation under 50dma, additional downside likely
• MOH – bearish reversal with close under 50dma, expecting it to close the gap and move to around 29
• MTZ – bearish consolidation with close under 50dma, expecting downside to 28
• BRLI – bearish consolidation with a close on the lows on higher volume, expecting move to 25