Individual Stock Setups: NVDA, NFLX, TSLA, AQUA, JNJ, PFE

Earlier I mentioned a separate email for the individual stocks and here we are. Remember, you don’t need to take all of these — or any of these! — and if doing so, remember to keep your risk in check via reasonable position sizing. 

We are getting the market dip we were looking for and as such, individual names are resetting. But we are still in a VIX ~$20 environment and at a place where we could see some big moves over the next few days. 

If support fails, that could kill these setups and so you must be willing to react swiftly and cut the losers if they don’t work. Pivotal areas are great, as they give us a clearly defined R/R, but that doesn’t mean the first “R” — risk — isn’t there. 

If the setups fail, you must adjust. 

Johnson & Johnson (JNJ)

Yesterday, J&J took a spill after losing a lawsuit. Remember when we talked about those long-term buys on long-term stocks a few months ago — MSFT, GOOGL, NVDA & AMD?

JNJ is one of those buy-and-hold names too. But you can apply the charts as well. 

If this name dips into the $155 to $156 area, where it finds the 200-week sma and a prior breakout/support zone, I want to be long and tuck this one away. 

Pfizer (PFE)