27/6/23: [PART 2] Stocks to Watch

Hi everyone, I’m back with more stocks to watch for the week(s) ahead:

(1) Alibaba (NYSE: BABA)

This stock should be no stranger to you if you’ve followed me for a while. Apologies for the charting as it turned out to be a falling wedge rather than a bull flag - but note that we’ve broken out of the falling wedge and we backtested the upper trendline on the daily chart. This should be key for a sustained move up, and as the bullish divergence in question starts to play out, we should expect an explosive move up soon. 95C for August or September seem a good shout, and we should expect to BABA at a much higher price by the end of the year.

(2) E-Micro Gold (MGCmain)

We’re forming a bullish divergence on the daily chart here with lower lows but higher lows on the RSI, and we’re consolidating in a falling wedge pattern near all time highs. I think the risk-to-reward is good for longs from here, for a sustained push back up to 1960.

(3) Wingstop (NASDAQ: WING)

If anyone’s looking to invest in F&B companies, WING looks like it is at a decent add zone - it is holding the ascending trendline that it has respected since June 2022. There is also hidden bullish divergence on the RSI, which suggests that the next leg up is inbound.

(4) E-mini S&P 500 - main 2309 (ESmain)

A quick look at the 4h chart tells you everything you need to know - bullish divergence is forming, which suggests that we should see the next leg up to 4500s and above on ES. If we get any lower lows but continued lower highs on the RSI, then the risk-to-reward for longs and/or calls on SPY strengthens. I am watching for a break above 4400 on ES. Note that the MACD is also curling upwards.

With that, I wish you all the very best for trading today.

@TigerStars @TigerEvents @TigerWire @CaptainTiger @MillionaireTiger

$Alibaba(BABA)$ $E-Micro Gold - main 2306(MGCmain)$ $Wingstop(WING)$ $E-mini S&P 500 - main 2309(ESmain)$ $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ Trust(QQQ)$ $Apple(AAPL)$