A Smarter Way to Trade Tech This Week

Dear — Jeff Bishop here, The small cap IMW has been outperforming the QQQ over the recent weeks, as vaccines have boosted optimism over a reopening of the economy.  Yesterday, it was announced that the UK has obtained 2 million vaccine doses from Moderna (MRNA) and expects to approve the vaccine from Pfizer (PFE) and BioNTech (BNTX) "within days."  Today is a great day to join this special catalyst training workshop with Kyle Dennis, if you want to learn how RagingBull's #1 catalyst trader is playing that news.  However, there are still doubts over speed and efficacy of wide scale distribution of the vaccines, especially within the U.S., and cases of infections still remain high.  For that reason, we'll have our eyes this week on select setups within the tech sector that look strong.  In today's issue of All-Access, we'll share a few tech stocks we're watching, based on a combination of fundamentals and strong technical setups.    As mentioned in yesterday's email, the broader market remains bullish with IWM slightly outperforming the rest of the indices.  As usual, the key will be to focus on select opportunities.  Let's take a look at some of the most interesting setups to watch in the upcoming week.  Glu Mobile (GLUU): Glu Mobile Inc. develops and publishes mobile games based on its own brands as well as third-party licensed brands and other intellectual property Growth of mobile gaming is one of the most promising and lucrative areas for investors to bet on. According to the Newzoo report, mobile gaming revenue could account for almost half of the overall market this year This month top tier banks upgraded the stock to outperform with more than 11 analysts in total giving GLUU a buy The chart is displaying a bullish setup: the stock has been in a steady uptrend since its most recent earnings report and is now getting close to the 52 week high at $10.85. As long as GLUU holds above $9 the breakout seems likely Jason Bond recently took $4,197 real-money gains on GLUU, thanks to one of his No. 1 trades he drops every day before the market opens. Take advantage of this Cyber Monday deal on Rooster Report that's expiring in a few hours.  Snapchat Inc (SNAP): Snap Inc. operates a global social media platform that allows users to send and receive photos, drawings, text, and videos. Snap serves customers worldwide On October 21, the company reported earnings beating the consensus by a 20% both on EPS and revenue  The stock gapped up on the report and shares proceeded to rally to the high of $47.27 in the month of November so far  The odds are that SNAP is ready to go even higher. The next two key levels on the upside are $47.27 and a big psychological mark at $50. On the downside, pay attention to swing low at $43.5 area Purple Innovation (PRPL): Purple Innovation is a mattress manufacturer that aims to aid in improving sleep quality. Purple sells its products directly to consumers. Analysts are bullish on the stock: 9 buy ratings with the average price target of $34, which represents around 10% upside from the last close While this is a less familiar stock for the retail crowd, it is very popular with "smart" money: more than 93% of shares are institutionally ownedPRPL has  While fundamentally the stock is appealing, the chart setup is the most important thing for most traders. PRPL looks ready to resume higher after chopping for a month. The key levels to watch for are $27.8, $30, $33.37, and $35 Bull flag patterns are one of our favorite technical setups to look for in the market.  They're easy to spot— and because they're so repeatedly successful, we can imagine them in much the same way as a victory flag.  With the market looking so bullish right now, they're a pattern we'll be seeing a lot of and will want to keep our eye out for this week.  In yesterday's issue of All-Access, we mentioned that one chart setup looked strong due to the overall strength of the semiconductors industry group.  Well, it just so happened to also be showing a textbook bull flag setup... In case the picture does not speak enough for itself, here are some considerations to look out for when identifying bull flag setups.  A strong up move across multiple trading sessions, accompanied by high relative volume, giving the appearance of a pole An extended period of horizontal consolidation, based on lighter volume, giving the appearance of a flag A strong potential to break out of consolidation and continue in a next leg higher Bull flag pattern can work just as well for day trading as they can swing trading.  So how do we trade the bull flag pattern? After the stock has been consolidating in the flag formation for a little while, we can purchase on the first candle that's making a new high.  If the stock is unable to hold the consolidating and break out to new highs, we can use the 20-day moving average as our stop loss.  Download Jason Bond's Momentum Hunter ebook here to learn how Jason is trading bull flags, as well as a handful of his other favorite bullish (and bearish) setups.  [Master Watchlist] 3 Options Trades On My Watchlist By Jason Bond of Jason Bond Picks 3 Trade Ideas I Found From The Couch By Nathan Bear of Weekly Money Multiplier  What Goes Up Must… Keep Going? By JC Parets of Chart Hunter [Watchlist] 3 Dark Pools Stocks To Keep On Your Radar By Ben Sturgill of Daily Profit Machine RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Click Here to stop receiving emails from support@ragingbull.com Unsubscribe from all RagingBull emails DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at https://ragingbull.com/disclaimer. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. AnyRagingBull Service offered is for educational and informational purposes only and should NOT beconstrued as a securities-related offer or solicitation, or be relied upon as personalizedinvestment advice. RagingBull strongly recommends you consult a licensed or registered professional before making any investment decision. RESULTS PRESENTED NOT TYPICAL OR VERIFIED. 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