Mitchell Warren

Underwriter, stock/options trader, @SeeItMarket contributor

[Mitchell Warren @MitchelKwarren]

Nice bounce back in U.S. Steel $X shares after moving above the short-term channel, confirming a higher low on the daily chart. There was similar price action in the metals & mining ETF $XME as well.

[Mitchell Warren @MitchelKwarren]

Airbnb $ABNB shares have cooled off from the December IPO over the last two months and there could more downside in store if it breaks below the wedge pattern in the near-term (bearish RSI confirmation too).

[Mitchell Warren @MitchelKwarren]

Shift4 Payments $FOUR has traded in an orderly uptrending channel since the IPO last June. It’s not at an ideal buy point yet, but if we see further weakness in the overall market it’ll likely retest the mid $70’s in the near-term.

[Mitchell Warren @MitchelKwarren]

Magnite $MGNI shares are setting up well this week if they can move above near-term resistance at $51.20. The stock was strong relative to the overall market weakness last week.

[Mitchell Warren @MitchelKwarren]

Luminar Technologies $LAZR is stalling at prior support at $30 after the initial gap higher this morning. There is similar price action in $TSLA and $BLNK (EV/autonomous technology segment).

[Mitchell Warren @MitchelKwarren]

Anthem $ANTM shares reversed intra-day to close near lows, once again stalling at the $340 level. The healthcare sector overall struggled after the initial jump early in the morning.

[Mitchell Warren @MitchelKwarren]

Not bad for my first @nba_topshot pack 😎

[Mitchell Warren @MitchelKwarren]

It has been a sell off across the board in most Nasdaq stocks over the last 3 weeks with just 38% now above their 50-day moving average. However, we still aren’t at the Sep/Oct levels yet. $QQQ $NASDAQ

[Mitchell Warren @MitchelKwarren]

Not the price action you want to see if you own solar stocks with the $TAN ETF stalling at prior support near $105-$106 (along with the 50-day moving average starting to roll over).

[Mitchell Warren @MitchelKwarren]

The solar ETF $TAN hasn’t closed below the 10-week EMA since last April, so tomorrow’s close will likely be important for the sector’s next major move. Notice that the relative strength has been waning in recent weeks.

[Mitchell Warren @MitchelKwarren]

TE Connectivity $TEL with a strong close near the highs of the today confirming a breakout above $132. More ideal entries have been near the 50-day EMA in the last year, but we could see continuous of the move in the near-term.

[Mitchell Warren @MitchelKwarren]

The McClellan Oscillator is nearing a -200 or lower reading which has typically resulted in at least a short term rally in the overall market. $NYA $SPX

[Mitchell Warren @MitchelKwarren]

The energy sector $XLE has been the top S&P sector for February, but even today’s overall selling pressure brought it after testing the top of the uptrending channel (RSI peaking in the 70-75 range where we saw deeper pullbacks in the last few months too).

[Mitchell Warren @MitchelKwarren]

Webster Financial $WBS is a northeast regional bank that is setting up well as it retested the top of the ascending triangle pattern. Financials were one of the few S&P sectors that were positive for the week.

[Mitchell Warren @MitchelKwarren]

Vinci Partners $VINP is a recent Brazilian investment management IPO that had late day buyers on Friday step in pushing it up near the 2/4 high just under $19.50. I’ll be watching for confirmation above that level next week.

[Mitchell Warren @MitchelKwarren]

It was a strong day for agriculture today in an otherwise mixed tape. Corteva $CTVA shares closed above the $45 resistance level after the recent bull flag pattern.

[Mitchell Warren @MitchelKwarren]

Clean breakout above $39 in Flowserve $FLS shares. They will report Q4 earnings on 2/18, but keep in mind the stock has dropped following the last 6 reports.

[Mitchell Warren @MitchelKwarren]

The only positive was they held the line the best they could at $70 on Bumble’s first day of trading. $BMBL 🐝

[Mitchell Warren @MitchelKwarren]

Casper Sleep $CSPR - 2 big back to back days with the stock closing above $10 for the time since last February today. This is one to keep an eye with Q4 earnings not out until 2/24.

[Mitchell Warren @MitchelKwarren]

Important week ahead for Cisco Systems $CSCO with Q2 earnings out on 2/9. The stock has dropped on 4 out of the last 6 reports.