Value Level: The price at which to enter a GTC limit order to buy on weakness. The letters mean; W-weekly, M-monthly, Q-quarterly, S-semiannual and A-annual.
Pivot: A level between a value level and risky level that should be a magnet during the time frame noted.
Risky Level: is the price at which to enter a GTC limit order to sell on strength.
Amazon.com (AMZN) ($247.11 vs. $243.94 on Oct. 17): Set an all-time high at $264.11 on Sept. 14. Amazon was downgraded to hold from buy this week, but its weekly chart shifts to positive on a close this week above the five-week modified moving average at $239.28. The stock's 200-day simple moving average provided a buying opportunity at $219.57 on Nov. 15. My semiannual pivot at $236.25 is my value level with a quarterly risky level at $263.71.Costco Wholesale (COST) ($102.58 vs. $97.00 on Oct. 17): Set an all-time high at $104.43 on Oct. 10 in reacting to its earnings report. The weekly chart shifts to positive on a close this week above the five-week MMA at $98.17. My weekly value level is $94.10 with a monthly pivot at $103.15 and quarterly risky level at $108.47. Dollar General (DG) ($49.58 vs. $50.29 on Oct. 17): Set an all-time high at $56.04 on July 7. The weekly chart shifts to positive on a weekly close above its five-week MMA at $49.06. My weekly value level is $45.80 with my semiannual risky level at $53.23. Dollar Tree (DLTR) ($41.42 vs. $40.52 on Oct. 17): Set an all-time high at $56.81 on June 20 and is below its 200-day SMA at $47.84. The weekly chart shifts to positive on a close this week above the five-week MMA at $41.66. My weekly value level is $33.57 with a semiannual pivot at $43.02 and semiannual risky level at $50.29. Family Dollar (FDO) ($69.01 vs. $68.52 on Oct. 17): Set an all-time high at $74.73 on June 14. The weekly chart has been positive since the week of Nov. 2 with the five-week MMA at $67.27. My semiannual value level is $62.16 with a weekly pivot at $68.21 and semiannual risky level at $71.79.
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