 Okay folks, welcome to best stock charts for the coming week. This is Bob Desmond and it is the 20th Sunday the 20th The trades that we're looking at is we move into the new trading week Are you PS as a long red fin as a short Joe as a short and cure Cure e leveraged ETF putting you along of health care we're gonna go over those charts in a moment and this evening we're gonna talk a bit about the stimulus package that was passed Over the weekend when we go live tonight at 6 p.m. Eastern Standard Time for Sunday night Futures live, so please join us there use the link below to get alerted at 15 minutes prior to was going live or just simply Click the subscribe button click the bell button and you too will send you out a notification when we do go live so Before we begin let's pay the bills and let's talk a bit about our sponsor Which is trend spider? I use it. I believe in it so much that I offer it as part of our silver and gold level memberships free of charge because I believe that in This day and age where time is so precious. You need to automate your grunt work by speeding up your analysis of identifying opportunities and by leveraging a Beautiful trade alert system what it allows you to do in advance of the new trading day it allows you to set up parameters of Basically a rules-based approach if we get a pullback or we test support an alert fires off if we break out above Resistance another alert fires off and so those alerts get fired off You don't want to look at the chart because it reduces your risk of impulse Trading you don't want that So please take advantage of their seven-day free trial offer. I offer a 14-day free trial offer to the contrarian trader and If you simply want trend spider go for it. There's a link down below 35% off take advantage of it use the link below in the description area or you could simply sign up for the Contrarian trader get it for free. Okay, let's get to the charts Now we're gonna begin with a monthly chart to identify where UPS has been To determine where it might be going and you could see here clearly We have a beautiful breakout on the month out of this triangle formation So our monthly timeframe is telling us the path of least resistance is to the upside. You don't want to fight it We may be contrarians, but we do not Fight the trend unless of course it's become overdone Meaning the stock has become overbought extreme overbought now. You can see here on a weekly time frame We broke out the week prior to last last week We retested the breakout point and then we had a continuation breakout. This is a beautiful setup here Let's overlay the weekly trend lines and you can see that the automated trend lines Simply by a click of a button is validating our thesis that in all probability UPS is going to head up higher RSI validating the move up higher by putting in higher lows and breaking out So very pretty daily chart Daily chart is telling us That in all probability we are going to continue to break out here now the question that we have Is this where might there be? Resistance above again, we're going to pull out our automated trend lines click of a button and They're telling us that we have resistance up and around 179 180 per share we closed out the week last week at 175 18 So something to be aware of perhaps not getting overly aggressive right now put on that small opening position To test the market then look for a continuation move higher And if we break out above these upper bands of resistance, we want to add more The next chart up red fin Monthly time frame you could see that we're very extended here relative to the third standard deviation boulder band now This is an overbought trade. I'm going to go do a deeper dive into the daily chart to illustrate the wise behind We would want to short this name So bear with me for a moment We still do have a respectable healthy breakout here Weekly time frame Clean break out last week, but we close out the week above the third standard deviation Bollinger band daily chart Here's where things get a little bit wonky We close out the week with RSI near 90 It looks as though we'll probably move up higher here. I would not go shorting this on Monday morning I do think they'll probably spike it up higher Don't be looking to lean into the short side on red fin The reason why this is more of a risky trade than normal is that we're at all-time highs, right? So we don't have any overhead supply meaning Areas of resistance above where we might have short sellers of like mine willing to fight a breakthrough of Resistance so we'll have to be very deliberate here wait for signs of weakness wait for light volume updates And then we could pounds not right now. It's not ready yet. So I would advise show patients All the indicators are implying you should short not yet Now oftentimes I'm asked about these extreme overbought stocks and what our strategy is Is it a bet that it's a bad business model of stock is going to collapse? No rarely is it that the market is telling us Is that this is a strong stock? It's to be respected. So What are we expecting to get out of this trade? Simply a Scalping of the froth that is it now you may be asking, you know, how do you identify? Where do you take profits? If in fact, you're accurate in your Trade thesis that the shares are overbought and do for pullback I would just point you over to the trend lines, right? We'll take them off and what I would do here Is simply do this. Here's my logical support level at 64.14 So we broke out above that mark retested it held it makes sense that that would be a Point at which where we would look to book profits and then exit the trade because there's no stretch in the imagination Do I believe that the shares are simply going to collapse? So that's the trade thesis. It'll be the same for St. Joe as well. So let's go to St. Joe. This is a real estate Company they don't land down in Florida. Perhaps all the areas We'll start with the daily chart and we'll work our way back because there is overhead supply here meaning we do have Resistance above so we'll work back. Why do we like it? We like it because we have RSI which closed out the day at 87 plus We are shy of the third standard deviation Bollinger band doesn't mean we can't move up higher We most certainly can we can easily see a 90 handle here on RSI We broke out of a beautiful consolidation So clearly we have a lot of momentum Weekly chart this is not providing us With historical resistance to do that. We need to go through a monthly chart now to identify where there is historical Resistance on St. Joe. We have to go all the way back using a quarterly chart back to 2008 and we like the 46 71 mark on St. Joe perhaps will hit a little bit of resistance prior to that mark, but ideally We see an overshoot of that resistance level and then a sell-off to close down below that mark And that'll tell us in all probability on a daily time frame We're beginning to lose a bit of momentum, but I would not short this stock right now It may look extremely overbought and it is it's extremely overbought The however is is that we are not at a level where we have short sellers of like-minded Who are able to help fight off all the longs that are bidding up these shares? So show patience and we will send our trade alerts to members when we enter add and sell and with that folks, please hit that like button subscribe button and The bell button leave a comment below and join us tonight 6 p.m. Eastern Standard Time for Sunday Night Futures Live chat with you then be well