Covid Clues?

In the media one incessantly hears COVID mentioned, variants, and boosters. But the actual stocks that benefited from the pandemic are telling a different story. CHWY is 48% off most recent 52 week highs, and it is attempting to make stand here at the round 60 number (it traveled from 20-120 between March ’20-February ’21). If it can hold its WEEKLY chart it is forming a double bottom pattern. ZM is 55% off its highs made last October (it went on a run from 60 to 600 from December ’19-October ’20). Even GPRO rallied very impressively from 2-14 from March ’20-March ’21. Below is the chart of another poster boy of the COVID era in PTON. It traded between 17-170 during the same time period as the other aforementioned stocks, but since the start of this year has been a nightmare. Depending on Fridays CLOSE it could record three very taut WEEKLY CLOSES as the last 2 finished within just of .60 each other. If the round 80 number fails look out below. Peer NLS has done even worse The stock is down 2% this week so far and if that holds would make it 12 straight WEEKLY losses in a row. I prefer to buy strength, so none of these names would be on a buy watch list anytime soon.

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