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ADBE
| DIRECTION | BUYZONE | SELLZONE | RISK/REWARD | VEHICLE |
| LONG | 275-280 | 310-315 | -5/30 | OPTIONS |
This past week, ADBE broke out, invalidating a top near the $280 price level. We should now expect that former resistance becomes support and pull backs can be bought for a move higher. We don’t have to worry about earnings until Mid June and IV is nice and low so any pullback is a buying opportunity.
AMBA
| DIRECTION | BUYZONE | SELLZONE | RISK/REWARD | VEHICLE |
| LONG | 48-49 | 54-55 | -1/5 | VEHICLE |
As AMBA has carved out a major basing pattern and held a defined trend higher, pullbacks can be bought as the stock looks to return to the level around $55. Another bonus is that earnings aren’t until the first week of June so this should be a fairly simple trend trade over the next 6 weeks or so.
LBTYA
| DIRECTION | BUYZONE | SELLZONE | RISK/REWARD | VEHICLE |
| LONG | 26.50-27 | 29.75-30 | -.50/3 | OPTIONS |
LBTYA is one of my favorite setups in the market right now for a short term trade. We do have to monitor earnings as they are set to report on May 7th, a little over a week away. I think it is primed to make a move pre earnings and IV is still low so I will look to take a small options position early this week.
UTX
| DIRECTION | BUYZONE | SELLZONE | RISK/REWARD | VEHICLE |
| LONG | 138-139 | 155-156 | -2/18 | OPTIONS |
What looks like a confirmed Inverse Head and Shoulders Pattern and the start of Wave 3 in an impulse sequence in UTX makes for an enticing long entry. Most recently, UTX gapped up on earnings which gives us an entry level to take a shot long.
ACB
| DIRECTION | BUYZONE | SELLZONE | RISK/REWARD | VEHICLE |
| LONG | 9-9.25 | 12-12.25 | -.10/3 | EITHER |
Aurora Cannabis is consolidating and held the line just above the one year point of control all last week. This gives a very defined level of support to take a long position. Options or stock or a blend of both can be taken as we plan for the marijuana stock to release earnings in a couple of weeks. I am long stock from lower but may look to take a short term trade as well.
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