Recent Top Call by Mike Paulenoff

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.

Back on Sep 16, Mike Paulenoff told MPTrader members that Sonos (SONO), the under-the-radar, work-at-home speaker company, had triggered initial buy signals. Mike explained that the stock, which was trading at 14.35/36 at the time, had climbed above its up-turning 10 and 17 DMAs, in route to a challenge of the "flattish" 50 DMA, now at 14.75. He wrote: "The recent low at 12.40 on 9/04 represents an exact 50% retracement of the major upleg from the March low at 6.58 to the July high at 17.

In his Trading Room on Friday, Mike Paulenoff highlighted a trading opportunity in Penn National Gaming (PENN): Mike wrote:  "During the past week, PENN has been in the grasp of a corrective process (no doubt exacerbated by the announcement of a secondary offering on Thursday morning). The correction has pressed PENN into important support at 62.00 that extends down to 57.60, and includes the up-sloping 20 DMA, now at 62.06. As long as any selling pressure is contained above 57.

On Sep 2, with QQQ trading at 300.01, down nearly 4 points from its pre-market thrust to a new all time high at 304.02, Mike Paulenoff alerted MPTrader members to the potential danger signals lurking within his chart work. He wrote: "Just in case TSLA and AAPL weakness represent the first shot over the bow ahead of a significant correction in the NDX, my work on QQQ indicates that a break and close under 298.00 will trigger sell signals that project to 280.

This past Monday (Aug 31), Mike Paulenoff started alerting MPTrader members about opportunities UVXY, then trading at 21.53. He wrote:  "UVXY continues to act like the canary in the coal mine because it is holding up so well despite ES, SPX, SPY climbing to new all time highs. UVXY remains 12% above its 8/26 low at 18.76 and, more conspicuously, 50% above its 2/20/20 low at 10.65!" Mike added, "UVXY needs to climb and sustain above 23.

Edwards Lifesciences Corporation (EW) broke out this past week, and MPTrader members were prepared. In his Trading Room a month earlier (Mon July 20), Mike highlighted the stock for its potentially powerful upside technical set-up, writing:   "Since last November, EW has undergone a sharp correction from 82.55 (11/19/19) to 51.

Back on April 13, with Range Resources (RRC) trading at 3.91, Mike Paulenoff told members in his Trading Room: "I am very friendly to RR 'down here,' looking for it to climb above 4.90-5.10 nearest key resistance, which will project upside potential to 10.00 next. Only a sharp decline that breaks its 3/13 low at 1.61 will invalidate my current technical set up.

This past Wednesday morning, just hours after TSLA announced a 5 for 1 stock split, and with TSLA trading at $1448, Mike Paulenoff wrote in his live Trading Room:   "All of the action off of the 7/13 all time high at 1794.99 represents EITHER a high level bullish digestion period ahead of another upleg OR a distribution top in the making.

In his morning report this past Tuesday (see charts), Mike Paulenoff highlighted a set-up in Sorrento Therapeutics (SRNE), trading at $10.61 at the time, noting potential upside projections initially to $14.50-$15. While citing the event risks associated with a volatile biotech name in the Covid-19 space, he wrote:  "The increasingly compelling near- and intermediate-term technical set up spanning the past 4-/12 years represents a massive accumulation period that is occurring for a reason.

A week ago Thursday (July 23), with Grayscale Bitcoin Trust (GBTC) at 10.37, Mike Paulenoff posted a bullish -- and very prescient -- analysis of the stock in his Trading Room, noting: "Coins are the least talked about market or investment vehicle lately, which is just the time when a sudden price move could come out of the blue to alert everyone that Bitcoin is alive and well, and is back!" Mike predicted GBTC would challenge key near-term resistance from 11.

In his Trading Room this week, Mike Paulenoff alerted members to the budding bullish technical potential of Edwards Lifesciences (EW), which was trading at 74.11 at the time of his alert on Monday July 20. He noted a very positive technical set-up challenging an 8-month resistance line that cut across the price axis at 76.10.

In his Trading Room a week ago Friday, Mike Paulenoff mused about whether traders would start to bid up the lagging IWM (Russell 2000 Small Cap ETF) like they were doing Big Tech.   He wrote, "It seems to me that as long as support between 137 and 132.

In his Trading Room this week, Mike Paulenoff highlighted Sonos, Inc. (SONO) on Monday when it was trading at $12.99. Mike liked the stock's powerfully developing 18-month base formation that was propelling it from its March low at $6.50 towards a confrontation with multi-month resistance at $16.00-17.00. As fate would have it, a bullish report was issued by a well known independent research firm, which placed a $30 target on SONO.