I have been gone away from doing this for too long and its time to hop back in the saddle! The Win-Picks for this month are stock tickers ZS, OKTA, SWCH, EBAY and BYND.
ZS – ZScaler Inc
ZS recently made a very large move in the beginning of June. It was stuck in a trading range for awhile. The chart shows it is coming off a 52 week high at 112.73. The current close price from 6/5 is 99.31. It has fallen from those highs and created a shooting star candle on the weekly chart. While these can have a bearish stigma, they are also a bullish continuation signal if they are not proven. The proof will be a fall below its old high around 90. If it does get there, this would be an optimal entry point to start a position.
OKTA – OKTA Inc
OKTA has been a power house move since March. Like majority of the market, it got hit with a super discount from COVID-19. It hit near 100 and has been on the move since. It reached a 52 week high of 205.71. The current close price is 180.60 as of 6/5/20. It has fallen from its highs and could continue to move lower to test out the 140-150 area. This would be an optimal entry point since this is where the stock price originally broke out from. The next best target area would be in the 170 range.
SWCH – Switch Inc
SWCH did its IPO in October and has done the typical IPO chart by starting off high and falling. It made its 52 week low of 6.39 and has since recovered. Its current close price is 17.97 as of 6/5/20. The recent price action is showing that it could make a push higher to test out its record high of 24.90 from when it first started in October. If so, the price could very well keep pushing on to new highs.
EBAY – Ebay.com
Ebay has enjoyed a nice ride since the lows that were created during the Covid-19 crash. It made a 52 week low of 26.02 and raced higher to make a 52 week high of 51.88 almost 2 months later. The current close price is 48.82 as of 6/5/20. It isn’t too far away from its high. The chart shows there is some strong bullish tones to the price and I have a price target set for it reach around 65. It could go as high as 70. I project it to reach the 60-70 area.
BYND – Beyond Meat Inc
Beyond Meat has been in a nice price range and is showing bullish signals to move higher. Normally, when a tight price range occurs, this is a signal of a move higher to come. It has traded tightly between 130-140 for almost a month. The current close price is 133.53 as of 6/5/20. I have a current price target set of 180. This is where the price started to break down and fell from the heavens. The current bullish formation gives a target of 180.