Recent Top Call by Mike Paulenoff

Back on February 3, Mike Paulenoff highlighted the potential for a continued rise in gasoline futures.

This past Tuesday afternoon (Feb 9), one of our long term subscribers, Sid_F, asked Mike in his MPTrader discussion room what he makes of QS (QuantumScape Corp), which develops and commercializes lithium-metal batteries for Electric Vehicles.   Mike responded:  "Sid, QS looks to me like it ended a major correction from its high at $132.73 (12/22/20) into its $40.62 low (2/01/21), and for the last week or so, has been carving out a potential bottom ahead of lift-off into a powerful rally phase.

Back on November 23, Mike Paulenoff alerted MPTrader members to a long opportunity in Occidental Petroleum Corp. (OXY).   OXY, he explained, stood to benefit from the Biden Administration's "much less friendly" view of fossil fuels than its predecessor, which could result in reduced output amid increasing demand, thus lifting the price of crude oil.   Plus, technically he saw the stock in a developing multi-month base formation, and emerging from a significant double-bottom low.

This past Monday, after Vaxart, Inc. (VXRT) popped above key technical resistance, Mike Paulenoff posted a timely update alerting MPTrader members to a potentially significant upside breakout:   "VXRT has again climbed into heavy, but very consequential resistance from 8.30 to 9.45," Mike wrote.  "If VXRT can chew through the resistance zone, it will be poised for upside continuation that projects 14-15 in a 'normal' market.

On Thursday of this past week, Mike Paulenoff alerted MPTrader members of a long set-up in CRM (salesforce.com), writing: "After making yet another new multi-month corrective low at 212.98 last Friday, CRM has turned up and has climbed above initial resistance at 219.50-220.00, which triggered an initial 'long alert' in my work." Mike added:  "My work argues that CRM has turned up, and has triggered a preliminary buy signal.

Last Wednesday afternoon (Jan 13), with the IWM at 210.76, Mike Paulenoff told MPTrader members:   "The Russell 2000 Small Cap ETF is just about 0.5% off of its all time high. As long as any weakness is contained above 204.30, my near-term pattern set up from the 1/04 pullback low at 190.94 is poised for still higher ATHs above 211.73."   The IWM reached a high of 215 the very next day.

Back on Dec 2, after salesforce.com (CRM) reported strong earnings but price languished, Mike Paulenoff told MPTrader members:   "Weakness in reaction to the news has violated the prior significant near term pivot low at 228.66 (10/30), triggering the Bearish Scenario (Red line) that calls for a deeper correction that projects into the 220 area next, and if violated, to the 205 - 200 target zone.

On the evening of November 30, after Zoom Video Communications (ZM) reported earnings, Mike Paulenoff cautioned MPTrader members about the stock;       "My pattern work argues that ZM started a major correction off of its 10/20 all-time high of 588.54 into the 11/10 low at 366.28. The rally from the 11/10 low at 366.28 to today's high at 487.79 (+33%) to my mind represents an intervening recovery bounce prior to a second bout of weakness that completes the larger corrective process.

During late November into early December, Mike Paulenoff became increasingly concerned about the price behavior of Facebook (FB).   The stock not only was grossly underperforming the NDX but also was in the news constantly in an unflattering light regarding its leader, Mark Zuckerberg, and censorship accusations. Since early November, the NDX is up about 10%, while FB is unchanged.

On Tuesday morning, December 8, with AAPL trading in pre-market action at 124.64, Mike Paulenoff told MPTrader members to watch for more upside: "AAPL is following a similar, if less exciting post-coil breakout price path than did TSLA one month ago. My attached 4-hour chart shows that since the end of the Sep-Nov coil formation at 112.59 on 11/24, AAPL has stair-stepped to the upside to this AM's pre-open high at 124.96 (+11% so far), in route to a challenge of the 11/09 rally high at 127.

Early on December 3, after Goldman Sachs upgraded TSLA to Buy from Neutral and raised its 12-month target price 780, a full 31% from its then price of 592, Mike Paulenoff wrote MPTrader members: "I wonder whether or not its (Goldman Sachs) newfound bullishness is a contrary indication, like putting a bull on the cover of Barron's or Time magazine? As for the technical set up in TSLA, my attached chart work argues for a new all time high above 607.

After Salesforce.com (CRM)'s earnings report late Tuesday, Mike Paulenoff cautioned MPTrader members about the stock, noting:   "CRM beat The Street on Earnings, Revenues, and Raised Guidance, BUT... confirmed buying Slack (WORK) for $27.7 Billion, which continues to give some investors a bit of indigestion. CRM is 4% lower from the 4 PM ET close, pressing down to 230.60, which we see on my attached chart is nearing a full-fledged test of the technically critical 10/30 low at 228.66.

This past Tuesday afternoon (11/24), in response to an MPTrader subscriber question about PayPal (PYPL), Mike Paulenoff wrote: "My interpretation of the BIG picture set up is that PYPL ended a near-term correction from its 9/02 high at 212.46 into the 11/03 low at 174.81, where it also started a new upleg that remains in progress, and points to a target zone of 215-220." The stock, which was trading at 205.

Ten days ago (on Nov 11), with Blink Charging Co. (BLNK) trading at 9.62 just ahead of its earnings report, Mike Paulenoff wrote in our his Trading Room: "Is this [report] the catalyst that sends BLNK surging to and through multi-YEAR resistance at 14.50-15.00? It certainly could be because the huge base formation exhibited on my attached Daily chart shows that for the past 3-1/2 months, it has been digesting the gains from the March low at 1.25 to the July high at 14.

This past Tuesday November 10, Mike Paulenoff put out a chart on Southwestern Energy Company (SWN). Pfizer (PFE) had just released its vaccine news the day before, and SWN was rallying along with other energy and industrial names. As Mike noted, "Yesterday's vaccine news suggests the shift to economic normalcy might come sooner than later, and with it more aggregate demand to propel revenues and profits in the industrial sectors (value more than growth for a change).

A week ago Friday (Oct 30), with the equity markets and precious metals under intense pressure ahead of the forthcoming election, Mike Paulenoff told members of MPTrader: "If there is one equity sector I think is imperative to participate in starting on Tuesday, well into the next Administration, regardless of who is in charge, it's the Precious Metal Miners in general, and in the (Junior) Silver Miners, in particular (SILJ).

This past Tuesday afternoon, with Zoom Video Communications (ZM) at $539.50, Mike Paulenoff told MPTrader members:   "ZM followed a very technical price path into its October high at 588.54, which my work argues ended the up-leg from the August low at 230.75...

In his MPTrader room this past Monday, Mike Paulenoff highlighted the upside potential in Grayscale Bitcoin Trust (GBTC).   With GBTC at 13.01, he wrote that it was "pushing up to test its prior rally peak at 13.03 (10/13), which if hurdled and sustained, will point GBTC towards another confrontation with its 14-month resistance zone between 14.20 and 14.70, where powerful upside potential could be unleashed."   By Wednesday GBTC reached as high as 14.49, and went on to hit a multi-month high of 14.

In his Trading Room this past Tuesday, Mike Paulenoff told members to expect more upside in PENN National Gaming (PENN).   With the stock trading at 67.16, Mike noted:   "My pattern work suggests strongly that PENN ended its most recent bout of weakness off the 75.24 high into today's low of 63.58, which is part of a larger-developing high-level bullish digestion period.  As long as this AM's low at 63.58 remains intact, PENN's set-up points higher ... towards the 73.

Back on September 22, Mike Paulenoff alerted MPTrader members to a maturing two-year accumulation period and pattern in Beyond Meat (BYND), noting: "BYND is pushing up towards a test of its year-long resistance plateau that spans from 160 to 168, which if hurdled and sustained will trigger significant upside potential that projects to 235-250, and thereafter, possibly to 280-300. If BYND does take out 165 on a close, then my sense is that Q4, 2020 will be a very powerful period of higher prices.