Weekly Watchlist Logo

Stocks To Watch – 11/13/2023

Pure Power Picks Logo

Brief Overview

Hello Traders & Investors,

Scroll down to see the stocks we have on watch this week 👀

We’re back to another Weekly Market Brief & Watch List 

After crawling back from the low $400s the SPY found some footing to trade sideways for a week. With action ramping up towards the end of last week we could see things heat up with heavy influence from Apple which is showing a bullish sentiment.

Be sure to also keep an eye on the Federal Economic calendar as we have a packed agenda this week as well as another full docket of earning

Recent Winners Tracking

CRM…35% from 11/3
from 11/2
from 10/30
from 10/24
PLTR…73% from 10/18
from 10/16
from 10/12
from 10/12
from 10/10
RTX…307% from 10/9
X…34% from 10/5
PYPL…165% from 10/4
*Max gain potential on options alerted so far/before expiration

🚨 Start a FREE Alerts Membership Trial!
(3 to 5 options alerts sent weekly)

Weekly Learning Focus

A dead cat bounce (DCB) 🙀 is a short term price reversal bounce!

It happens after a catalyst that creates a steep selloff. 🔻

The bounce is usually triggered by a high amount of shorts covering their positions.

Here are 2 Ways to trade this setup.

🟢 Buy the DCB long.
🔴 Short the reversal back down

Keep it simple‼️ Have targets 🎯 and take profits 💰 & manage risk like a pro when you’re wrong 🧙‍♂️ ‼️

Does learning a winning foundation for your trading interest you? You should consider our Trading Course for Beginners that we built into our Trading Room on Discord.

The course is designed for beginners or new traders looking to build a solid foundation for their trading and investor career. We took an A-Z approach in covering the critical aspects all traders will encounter in their journey.

We are now offering a 7 day trial to our Premium Trading Room for just $5! If you’ve been wanting to try out all of the Premium channels in our Trading Room, there’s no better time than right now!

Market Brief

S&P 500 ETF (Ticker: SPY) – Daily Chart

Opened last week at: $435.47
Hit a weekly high of: $440.93 on Fri 11/10
Hit a weekly low of: $433.40 on Thurs 11/9
Closed the week at: $440.61

We finally saw a bit of price stability on the SPY last week as it traded sideways for the most part. Currently sitting around the $440 mark we will want to look for resistance at the $450 psych level. If the SPY is able to break through the $450 level and hold we could see more action to the upside and a possible retest of late July highs. 

However, If the market gets heavy and the $437 level fails to hold as support, we could see a Test of the 50 EMA (daily chart) around $431. If this level fails to hold, look for the next support level around $424.

Charts Provided By: Finviz

Most Anticipated Earnings Releases This Week

Weekly Stocks to Watch

Here’s some of the stocks we have on watch for the beginning of the week…

As always, we’ll be heavily focused on our news feeds & scanners for prime opportunities throughout the week.

Coinbase Global (Ticker: COIN) – Weekly Chart

Coinbase saw a strong move on Thursday of last week, hitting a high of $99.82 before rejecting and closing the week at $92.92. Look for $92.5 – 90 range as support, with increasing volume, a move back to last weeks high may happen, a breakout over that could really get moving. However, if support fails COIN could settle back around $85. Look at BTC price action for confirmation bias.

Meta Platforms (Ticker: META) – Weekly Chart

News of Zuck selling hit the street… Technically, META looks like it can break out to a new level. Over ($330.54) holding is what we want to see if long for longer targets towards $350. If $330 zone remains resistance, look for moves back towards short side targets of $325 – $315 – $300 with market selling.

Shopify Inc. (Ticker: SHOP) – Weekly Chart

After posting a strong weekly candle, the Shopify level we’re looking at is $60. Above that, there could be a stronger move to the upside with a first target of $67. Under that, there could be a move back towards a $56 target. A breakout over $72 could lead to a large move with volume.

We have many other names on watch and we’ll continue to monitor our breaking news feeds and stock & option scanners to help make the smartest picks with the most potential throughout the week!

Weekly Market Calendar

Source: MarketWatch

Ready For An Alerts🚨 Membership?

We offer a 100% completely FREE 7 Day Trial, so you literally pay nothing to try out our service for a week. Receive 3-5 trade alerts THIS WEEK.

If you decide that we aren’t the right fit for your type of trading, you can easily cancel your membership any time before the 7 days is up, and you won’t be charged.

The Trial even INCLUDES our SMS/Text📲 Alerts, which most of our members choose to opt into.

*Interested in becoming an Affiliate? Join the Pure Power Picks Affiliate Program! Sign up now to become an affiliate marketer and earn money on every successful sign up you send our way! Click the button below to sign up now!  

Like the charts we use? Now you can use them on your mobile device with an app, browser, or desktop. This is the best charting available on the market right now for the average trader. Learn more about TradingView in our review here!