Here are several stocks that are on our watch list going into the end of the trading week.
On the short side are first Carvana (CVNA) the used car company that delivers cars right to your door. The technical indicators, both price momentum and money flow, have lost any upside momentum and are tracking lower. There have been two closes below a confluence of broken trend lines and the 50 day moving average. The stock looks like it is headed lower.
There hasn’t been a confirmed breakdown in 3D Systems shares, but it looks like there may be one in the near future. Technical indicators reflect the loss of upside momentum and Chaikin money flow is well into negative territory. The stock is testing multiple layers of support that look weak.
The mobile payments company in Brazil, PagSeguro Digital (PAGS) has built a solid base over the last three months and is currently breaking above resistance. Volume and money flow will have to improve to support the move, but the stock looks ready to move higher.
General Dynamics (GD) is another stock that has been basing and now holding above resistance-turned-support at its 200 day moving average. The moving average looks like the neckline of an inverse head and shoulders pattern. GD looks like it is poised to push higher.
With a number of biotech stocks in the spotlight recently, Innoviva (INVA) has been one of the steadier performers. It is simply been making higher highs and higher lows. The technical indicators support further upside action.