Blog post: Day 56 of $QQQ short term up-trend; List of 4 stocks from my scan of recently oversold growth stocks now closing above their 21 day exponential moving average–$AVGO, $NOW, $ZTS, $IQV

GMI6/6
GMI-26/8
T210845%

All 4 stocks are in up-trends with 10wkavg>30wkavg and above $150. These stocks traded below their bottom 15.2 daily Bollinger Bands anytime in the last 7 days and now are above their exponential 21 day averages. Check out their daily and weekly charts. If I bought any I would sell immediately after a likely close below that moving average or the lower Bollinger Band. As an example, here is the daily chart of ZTS. Note its GLB (green line break-out) in June and the black dot signals. An alternative place for a stop would be below the low of the bounce day, around 196.96. Remember new traders, you can buy one share and only risk about $5. You have to learn how to manage your losses.

 

 

 

The GMI is at 6 (of 6). QQQ has closed above its 10 week average for 12 straight weeks. I still fear the coming month of September and remain very cautious.

1 thought on “Blog post: Day 56 of $QQQ short term up-trend; List of 4 stocks from my scan of recently oversold growth stocks now closing above their 21 day exponential moving average–$AVGO, $NOW, $ZTS, $IQV”

  1. Technically, QQQ is in a compression pattern. I feel momentum to the upside but volume and sentiment are weak. The economic outlook, near term is foggy with COVID variant on the rise. I sense a bull trap: break out then fail and correction. October could be a better time to consider getting into the market. IMHO

    Thank you for your work, I appreciate, long time follower,

    Garry Lundy

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