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Watchlist Week of Dec 6th, 2021

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Permian Basin Royalty Trust

The Permian Basin Royalty Trust (PBT) is a small-cap ($415 million) oil trust that receives ongoing royalty interests from oil- and gas-producing properties in Texas.

Here’s how the chart is setting up:

Weekly Chart of Louisiana-Pacific (LPX) -- Source: TradingView
Daily Chart of Permian Basin Royalty Trust (PBT) — Source: TradingView

And here’s how the stock is setting up with my Stock Surge Indicator (SSI):

  • Surge score: 99/100
  • % Above 52-wk low: 196%
  • MFI reading: 82
  • Sales growth: +146%
  • Triple momentum: yes

After a textbook breakout in late September, shares jumped 63% in just three weeks on heavy volume.

Price action then tightened up again near the $9 level and began another leg higher.

But market weakness surrounding a new COVID variant and falling energy prices has given investors the chance to buy PBT on a pullback at the initial breakout level.

Those looking for additional confirmation may choose to wait until shares break above $9.25.

CorVel Corporation

CorVel Corporation (CRVL) is a financial services company that provides workers’ compensation, auto, liability and health solutions for corporate clients and government agencies.

Here’s how the chart is setting up:

Weekly Chart of Hayward Holdings (HAYW) -- Source: TradingView
Daily Chart of CorVel Corporation (CRVL) — Source: TradingView

And here’s how the stock is setting up with my SSI:

  • Surge score: 97/100
  • % Above 52-wk low: 106%
  • MFI reading: 62
  • Sales growth: +16%
  • Triple momentum: yes

CorVel isn’t a “hot stock” by most metrics, but shares have quietly doubled in 2021.

I’m not surprised. With a small float of only 8.9 million shares, it doesn’t take too much demand to send the stock price higher.

CRVL has been consolidating for the last nine weeks, and last week’s market selloff likely shook out some weak-handed holders.

If the stock breaks above $200 on increased volume, we could easily see another quick leg higher.

Ford Motor Company

Ford Motor Company (F), the $76 billion American auto manufacturer, has been an absolute monster this year – currently up 129% year-to-date.

Here’s how the chart is setting up:

Weekly Chart of Hayward Holdings (HAYW) -- Source: TradingView
Daily Chart of Ford Motor Company (F) — Source: TradingView

And here’s how the stock is setting up with my SSI:

  • Surge score: 97/100
  • % Above 52-wk low: 130%
  • MFI reading: 55
  • Sales growth: -5%
  • Triple momentum: yes

While most of the legacy automakers have failed to keep pace with electric vehicle (EV) manufacturers, Ford’s focus on a next-generation electric fleet has investors excited.

F has tightened up over the last five weeks and held its ground well despite overall market weakness.

It trades in a narrow 8% range, giving traders the chance for a low-risk entry point at new highs.

For safety, I would sell if it trades below $19.00.

Lastly, if you’d like a step-by-step walkthrough on how to best take advantage of these weekly trades…

Be sure to check out my recent article, How to Follow My Weekly Trades, to know where I’m buying so that you can follow along.

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