Underhyped high growth stocks? EVO, EMBRAC , FTCH, MWK, OPEN, SKLZ, UPST [Video]

2021 Week 2 Stock Market Recap

Prior to 11 Jan 2021, shortening of the thrust to the upside (suggested fading of the buy momentum) on top of channel overbought created a great opportunity for the bear to attack to the S&P 500 futures (ES). Yet, Over the past four trading days, there is a lacking of supply while S&P 500 is consolidating. Supply increased on Friday and S&P 500 broke below the support level at 3770, tested the demand line of the up channel.

The next support level is at 3725 in addition to the demand line should further weakness continue in S&P 500.

Overall long term & medium term uptrend are intact while short term weakness is manifested. Supply level is normal (despite localised increase) and not yet reach a level that will potentially damage the mid-long term structure.

High Growth Stocks that are under hyped?

In the mid of Dec 2020, I subscribed a newsletter that sends me one stock per week to provide a briefing in the fundamental of the company such as how the company works, how it solves the problem, product, strength, weakness, growth prospects, financial numbers, etc…In terms of the information provided, it is more than enough for me as a trader, who only look at the price action and the volume.

What I find interesting for these stocks is they generally has something in common, which is strong momentum. This is certainly an attractive point for swing trading. Let’s take a look this stock watchlist including EVO, EMBRAC , FTCH, MWK, OPEN, SKLZ, UPST, and analyze from the price action trading and Wyckoff analysis aspects. Watch the video below:

Timestamps

• 1:11 EVO (Evolution Gaming Group AB)

• 5:51 EMBRAC (Embracer Group AB SER. B)

• 9:28 FTCH (Farfetch Ltd)

• 11:40 Cup and handle pattern

• 13:40 MWK (Mohawk Group Holdings INC)

• 14:18 Cup and handle structure

• 16:33 OPEN (OpenDoor Technologies INC)

• 17:46 SKLZ (Skillz INC)

• 19:00 UPST (Upstart HLDGS INC)