FRGI, NFLX & KMI Among 10+ Stocks To Watch
Today's Charts of the Day video features some of the Wave Set-ups that we added yesterday and today in Stock Waves.
First up is FRGI, which has jumped about 15% since we highlighted it. This puts the probabilities strongly in the favor that the stock has completed circle wave ii of 3, and price is beginning its first wave within circle wave iii, which targets 21.50.
Traders might be able to use a consolidation/pullback in the second wave of circle wave iii as an opportunity to add, and can move up the stop to just underneath the low that was made yesterday at around 10.50.
Next up is NFLX, which continued to the downside today and has made a new low below its late Dec low. This confirms that, assuming it holds the 1-2 set-up off the November low, that the pattern is a wider expanded flat for the wave (ii).
Price is approaching a 50% retracement at 498.50. Below there is the 61.8% retracement at 490. Using those two support levels, or even at the 38.2%, offers good risk/reward, using a stop underneath the November low, playing for a third wave up into the 620 region.
We also added KMI to our Wave Set-Ups. The stock appears to be in a 1-2 start of circle wave i of 3. Traders may want to play for at least circle wave iii of 3 and perhaps the entire of 3 which targets around 22.
Other stocks covered in our Charts of the Day video include MMP, MIME, FSLY, KO, CRM, TDOC, INTC, and DKNG.