Hey guys how's it going.
It's Andy from MagooInvesting.
Today I'm going to be talking about how to make a watchlist.
After a very nice week of trading, I think I was up around 8 percent on the week.
Now as the weekend comes, there's nothing to be trading.
This is where you start looking for stocks to be trading in the future.
I'm going to try and keep this under 5 minutes because I feel like the amount of videos I
see out there are trying to explain something and it keeps dragging on forever.
It's such a waste of time.
I'm going to try and keep these short and simple.
I'm going to show you how to find one, maybe two stocks, to be trading for the next week.
The first thing you're going to need to do is find out what criteria you're going to
be using.
It could be new 52 week highs if you are trying to trade something that's been pushing higher.
Me personally, the things I'm looking for are Unusual volume, because it shows that
the stock is picking up more momentum than normal.
And then I'm looking for something that's been positive in the past week.
And I'm also looking for a company that I know, or I can Google and figure out what
its about.So none of these financial holding companies, Biotech.
Basically the companies that you look at and say "I don't know what that is", we're going
to stay away from those.
We're looking for stocks that we know or can do a quick google search and figure out what
it is.
So here we are on trading view.
Trading view is one of those websites that I use to find stocks, look at charts if I
don't want to look at think or swim.
It's just a great thing to have bookmarked.
So were going to go to screener.
Now we're going to head over to the right and going through all of these.
New 52 week high is a great thing to look at.
Monthly high is even good too.
Unusual volume is what I'm going to be looking at.
This usually comes from news stories breaking, people get excited about the news and they
go into a company that they wouldn't normally be trading.
It makes its moves faster than normal.
Once we're in here, we'll go to filters.
We're going to go to the last section.
We're looking for companies that are trading above 10 dollars.
We don't want any of those penny stocks.
Those move too much and can get manipulated.
We don't want that.
So we're looking for companies that are over 10 dollars.
And now we have all these things and change it to percent change in the past week.
And now we'll look for companies that we've heard of.
Over here we have Overstock and Weight Watchers.
The rest of them, Pricesmart, I don't exactly know what that is.
But I definately know Weight watchers and I definately know Overstock.
Alright, from the website we were using, we found two potential stocks to trade.
Overstock and Weight Watchers.
Both of these companies are things that we know of.
Acually, Overstock.com is the sponsor for the home baseball stadium of my favorite baseball
team, the Oakland A's.
So that's just kind of a funny thing.
These are two companies that people know about and you can understand that they are a legit
company.
And now we're going to go take a look at the technical side.
So we're going to hop on over to TD Ameritrade and see what we see on there.
Alright, so now we're on TDAmeritrade think or swim and we'll take a look at these companies.
Sorry I bumped the screen.
Let's start with Weight watchers.
The 5 year, 1 day does not look super appealing.
You have this really large spike up to 105 and now it's sitting around 24.50.
So that's pretty low compared to what it was.
But when we go to my favorite timeframe, let's head over here.
It doesn't look super appealing.
So it had some sharp selloffs in the past 180 days it was at 70 dollars.
It sold off pretty hard so let's go to live news and see what happened.
It got updated to neutral.
Ok, so this is a financial analyst saying that it used to be a bad company and they
thought it was going to fall.
And then they upgraded it to neutral.
Upgrading to neutral just sounds funky.
Anyway, it got some good news and it has been pushing it up.
So let's go to a lower timeframe.
Let's go to the 20 day, 1 hour.
And so this looks slightly better.
You have some pushes up, it comes back, and keeps doing that over and over again.
It's been pushing higher and had a pretty good past 20 days.
So this potential trade I don't totally love.
It has a lot of upside.
But it also was upgraded to neutral and you know that it wasn't doing super well before.
So if I was going to be taking a position on this, I would make this more of a short
term trade and not a hold for the upcoming future.
And now here we are with Overstock.
This also on the 5 year, 1 day chart.
As you can see, it was hanging out around the 10 to 15 dollar mark for a while.
And then in mid to late 2017, spiked up to around 90 dollars and then came right back
down.
So some of the things that are jumping out to me right off the bat is this high volume
over here.
These are the blue bars that are popping up.
So that is kind of what we're looking for.
That's why the unusual volume is why we found it on here.
And so let's go to live news and see what happened.
So it looks like Overstock.com is getting into Crypto.
So I'm assuming that did well because Facebook's didn't go well.
When we go to a shorter time-frame, let's go to 180 days, 4 hour.
This looks really appealing to me.
And so the reason it does, you have the holy cross right here that is a bull signal.
It made a low, good news, higher volume pushing it up.
It still has room to go to reach March.
Let's see how much it has.
15 percent just to get to the high of here.
Things look pretty good.
Let's go to the 20 day.
1 hour.
This looks fantastic.
You can see that it has been bouncing off this 50 SMA.
Been pretty steady.
This would probably be the move, or the play that I will be having if I do take another
position.
You see low volume, went to the bottom, and then went with high volume after the news
came out and it's been taking off pretty well.
So overall, just from a couple minutes of research we found two companies that we could
potentially trade.
And it's very interesting because both of these companies that have been doing very
poorly in the past couple of months.
Weight watchers (looks at computer screen) fell pretty hard.
Both these companies have significant upside.
So you're going to be taking some risk while you're moving into these positions.
But as you can see from the charts, there's a lot of potential profit that you could be
making.
And in the past couple of weeks, it's been doing good, been on higher than normal volume,
and it's a company that you're not going to find out it's going bankrupt in the next week.
So you have a little bit of stability.
After a very positive week, I would look for a pullback on the Monday morning and potentially
look to enter that position on Tuesday.
I'm going to be taking a look at Overstock and Weight watchers this week and we'll see
how these trades pan out and I'll let you guys know if I take a position.
Hopefully you guys learned something and hopefully you liked that it was a shorter video.
And hopefully you guys find some good stocks to be trading in the upcoming weeks.
Stock market has been chugging along and hopefully you've been making some money.
Thanks for watching guys!