Home Stock Picks These Are Two Stocks To Watch This Week – Mike Swanson (09/18/2017)

These Are Two Stocks To Watch This Week – Mike Swanson (09/18/2017)

Tablet PC shows latest news on screen, which lying on work place.

Let me show you two stocks you should watch this week.
The first is NVDA.

On Friday NVDA surged up over 6% with a nice volume pop.
It’s wild, because if you look at what it did in June it had a major key reversal day when it reported earnings after having already rallied 60% in just a few weeks.
At the time I thought that could be a sign that the stock might be done, but it basically consolidated since August in a triangle formation and broke out on Friday.
That suggests that this stock has some fuel in it now to run this month.
Now here is a stock that has not made a run yet back up to its summer highs, but might.

AMD has an interesting triangle pattern and has basically consolidating now for the past three weeks with support above $12.00.
Resistance is in the $12.50-$13.00 area.
A breakout through that should generate a nice 15-20% run.
And INTC made a move up last week that suggests the other semis (of which AMD is one) might get a bid now going into this week’s Fed meeting.
Stock market bulls could buy with a stop loss below $12.00 and traders can also do an options straddle.
That way you are betting only that a big move will happen once this pattern is resolved and do not have to be correct about the direction.