Power Plays Weekly Roundup
June 30, 2023
By Scott Redler
To start, let's close out Apple (AAPL) from Power Plays. It's had a great run but it may be getting frothy so I want to lock it in.
Next, I'm going to add a new Power Play:
Name: Unity Software
Needs to Hold: $37 to $41
Price Objective 1: $55 to $59
Price Objective 2: N/A
Unity Software (U) looks like it's ready to shoot higher and I'm confident it can outperform over the next week or so. It can be a fast mover so know how much risk you can handle.
I'm going to keep this note short since we're heading into the holiday weekend.
Overall, the market's been constructive and the bears are looking really foolish here.
They've been calling for a recession for months and the data just keeps proving them wrong.
So while they look for tops, we'll focus on finding setups.
But let's not get cocky because things can change fast.
We use charts for a reason - to help us stay objective and tune out the noise.
So let's be ready to pivot in case selling does arrive.
I'll be on vacation early next week so there won't be new content Monday or Wednesday I will be back on Thursday.
Now let's go over our Power Plays:
XBI: biotech's been lagging so I'm glad we took off half already. If it gets below $79.50, I may look to switch gears.
Boeing (BA): this one has been slow but it's been hanging in there nicely. I think it's fine to stick with it for now.
Amazon (AMZN): it struggled a bit over the past two days but it's opening strong today. The chart may need some time to rebuild but there's solid potential for a rally from here.
Have a great weekend!
Scott Redler Positions Disclosure as of 2023-06-30 at 9.32.40 AM