Home » Watchlist Week of July 4th, 2022

Watchlist Week of July 4th, 2022

Chinook Therapeutics, Inc. (Long Idea)

I added Chinook Therapeutics, Inc. (KDNY) to the Watchlist last week, and it did not rise enough to hit our buy trigger. 

As I mentioned in the previous update, KDNY is a biotech stock coming out of a huge two-year base pattern.

TradingView Chart
Daily Chart of Chinook Therapeutics, Inc. (KDNY) – Source: TradingView
  • Surge score: 97/100
  • % Above 52-wk low: 79%
  • Sales growth: +671%
  • Return on Equity: N/A
  • Triple momentum: yes 

Last week saw the stock pull back slightly to the 21-day moving average. 

This is also a previous breakout level that could hold as support.

Traders could buy the stock here and use a 10% stop below the 50-day moving average.

The Howard Hughes Corporation (Short Idea)

The Howard Hughes Corporation (HHC) stock has been decimated over the last couple of months.

Shares of the real estate developer and manager fell from $105 to a low around $60 in just two months…

TradingView Chart
Daily Chart of The Howard Hughes Corporation (HHC) – Source: TradingView
  • Surge score: 26/100
  • % Above 52-wk low: 105%
  • Sales growth: +N/A
  • Return on Equity: N2%
  • Triple momentum: yes (short)

Shares are seeing a short-term bounce to the 21-day line that should continue to act as resistance. 

Consider selling HHC short here near the $70 mark.  

Citigroup Inc. (Short Idea)

When looking for breakout stocks to buy, I want the best of the best… Stocks with big earnings growth, big sales growth, bullish forecasts and high relative strength.

Identifying names about to break out lower means we want the opposite… Declining sales and profits, poor relative strength and a clear downtrend on the chart.

Citigroup Inc. (C) checks every box…

TradingView Chart
Daily Chart of Citigroup Inc. (C) – Source: TradingView
  • Surge score: 35/100
  • % Above 52-wk low: 2%
  • Sales growth: -1%
  • Return on Equity: 11%
  • Triple momentum: no

This dumpster fire of a stock has been moving lower for a year now.

It is currently forming a shelf with support at $45. 

If it breaks this level and makes a new low, consider going short with a stop at $49.20.

Ross Givens
Ross Givens

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