Home » Watchlist Week of Jan 31st, 2022

Watchlist Week of Jan 31st, 2022

Continental Resources, Inc.

First up today is Continental Resources, Inc. (CLR).

Here’s how the chart is setting up:

Daily Chart of Continental Resources, Inc. (CLR) — Source: TC2000

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

  • Surge score: 99/100
  • % Above 52-wk low: 181%
  • Sales growth: +94%
  • Triple momentum: yes

CLR, the $19 billion dollar oil and gas company, is forming a textbook “cup” base with a depth of 27%. 

The stock also showed tremendous strength in an otherwise weak market by quickly recovering to make new highs on Wednesday.

I would prefer to see five to 10 days of tight trading on lower-than-average volume to form a small “handle” on the right side. This would create a buyable pivot area.

New York City REIT, Inc.

Next up on today’s list we have the real estate investment trust New York City REIT, Inc. (NYC).

NYC owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City, particularly on the island of Manhattan.

Here’s how the chart is setting up:

Daily Chart of New York City REIT Inc. (NYC) — Source: TC2000

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

  • Surge score: 93/100
  • % Above 52-wk low: 86%
  • Sales growth: -7%
  • Triple momentum: no

NYC does not meet all of our criteria for a typical breakout pattern. But NYC is something completely different – a “high tight flag.”

After advancing more than 100% in just one week of trading, the real estate investment trust has contained pullbacks to less than 20%, an impressive feat in any market but even more so now.

The rules for trading a high tight flag are simple – as long as it doesn’t breach the 20% retracement level (yellow box on chart, also known as the “flag”), the buy trigger is a move 10 cents above the high.

These are higher risk, higher reward trade setups.

Regeneron Pharmaceuticals, Inc.

Finally, we come to the American biotechnology company, Regeneron Pharmaceuticals, Inc. (REGN).

Here’s how the chart is setting up:

Weekly Chart of Regeneron Pharmaceuticals, Inc. (REGN) — Source: TC2000

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

  • Surge score: 88/100
  • % Above 52-wk low: 37%
  • Sales growth: +51%
  • Triple momentum: yes 

REGN is a big stock capable of making big moves. When it first broke out in 2010, shares advanced by 1,848% over the next five years.

Compared with that meteoric run, REGN has essentially laid dormant ever since.

Above is a weekly chart to show the big picture. It is a pattern within a pattern – a “cup with handle” inside another “cup with handle.”

And despite big losses in most mega-cap names, REGN has kept retracements to a minimum and showed signs of what might be heavy support volume last week.

Look for a break of the latest handle and consider adding at new all-time highs. 

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Ross Givens
Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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