Home » Watchlist Week of October 10th, 2022

Watchlist Week of October 10th, 2022

Celsius Holdings, Inc. (Short Idea)

Celsius Holdings, Inc. (CELH) has been a high-flyer all year, but the party might finally be over for the energy-drink maker.

The stock is now holding below its 50-day moving average.

Daily Chart of Celsius Holdings, Inc. (CELH) – Source: TradingView

Additionally, the $90-$95, which previously served as support, is now acting as resistance for the stock.

I would consider a short trade on CELH if it bounces back up again with a stop near $97.

Enphase Energy, Inc. (Short Idea)

Solar stocks have seen huge runs in the latter half of this year, including Enphase Energy, Inc. (ENPH)…

Daily Chart of Enphase Energy, Inc. (ENPH) – Source: TradingView

However, the bears are now coming for Enphase.

Last Wednesday saw the stock break down and close below its support level on double its average daily volume.

A stock going down is bad. A stock going down on huge volume is really bad.

I like ENPH as a short here. After a meteoric rise, it has a lot of room to fall. 

I’d like to sell short as close to the $270 area as possible.

Vertex Pharmaceuticals Incorporated (Long Idea)

If you’re determined to play the long side and find stocks to buy, Vertex Pharmaceuticals Incorporated (VRTX) is one of my favorites.

Daily Chart of Vertex Pharmaceuticals Incorporated (VRTX) – Source: TradingView

This is a top-caliber stock in a leading market group with a great volume footprint.

The breakout level is near $306. One could also buy the stock on a pullback to its 21- and 50-day moving averages near the $290 level.

Either way, I wouldn’t risk much on the trade… No more than 5%-6%.

If the trade is going to work, it should show a profit within a couple days.

Ross Givens
Ross Givens

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