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This Week in Charts

In this report, we look for opportunities in Slack, AT&T, Holly Frontier, Intel, and Beyond Meat.

Caleb Dismuke

Last updated: 11/12/2020.


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Slack ($WORK) | Collaboration Software

Slack ($WORK) stock chart
  • Slack has traded a $24-$36 range since March 2020.  
  • Currently, price is testing support at $24. If $24 holds, look for a move to $36, then $42 ($42 is the post IPO high).
  • If $24 breaks, the stock could fall to $20.

Potential upside:

  • Current price (as of 11/12/2020): $25.70
  • Entry price: $24
  • Stop: $21.40
  • 1st Target: $36 | Reward/Risk = 4/1 (50% upside vs. 11% downside)
  • 2nd Target: $42 | Reward Risk = 7/1 (75% upside vs. 11% downside)

Recent news:

Can Slack Stand Out From the Growing Competition? | The Motley Fool
Rivals are expanding the use cases of their own products, potentially narrowing the market for the workplace communication tool.

AT&T ($T) | Telecommunications & Media

AT&T ($T) stock chart
  • AT&T has mostly traded a $22.50-$44 range since 2002.  
  • Currently, price is testing support at $27.50. If $27.50 holds, look for a move to $40, then $44.
  • If $27.50 breaks, the stock could fall to $22.50.

Since 2000, AT&T hasn't spent much time trading below $22.50. So the risk, price-wise, is minimal in my view. However, this stock won't triple your money. It has a high floor and low ceiling.

The best case is the stock continues to trade the $22.50-$44 range with the hope it can one day retest its all-time high near $60. And in the meantime, you collect a healthy dividend (current yield is 7.20%). They've paid a dividend every year going back to 1984. View their dividend history here.

Potential upside:

  • Current price (as of 11/12/2020): $28.25
  • Entry price: $27.50
  • Stop: $25.40
  • 1st Target: $40 | Reward/Risk = 6/1 (45% upside vs. 8% downside)
  • 2nd Target: $44 | Reward Risk = 8/1 (60% upside vs. 8% downside)

Recent news:

AT&T considers selling significant minority stake in DirecTV, AT&T Now and U-Verse pay-TV operations, sources say
AT&T is discussing selling 30%-50% of its DirecTV, AT&T Now and U-Verse pay-TV business to private equity firms including Apollo Management.
Here’s the internal memo sent to employees as AT&T’s WarnerMedia begins layoffs
WarnerMedia CEO Jason Kilar sent an internal memo Tuesday announcing companywide layoffs as AT&T’s media division restructures around HBO Max.

Media analyst Mathew Ball on AT&T's streaming strategy:

Read the whole thread here.


Holly Frontier ($HFC) | Crude Oil Refiner

Holly Frontier ($HFC) stock chart
  • Holly Frontier’s stock fell 74% after peaking above $80 in May 2018.  
  • Currently, price is testing support at $20. If $20 holds, look for a move to $40, then $50.
  • If $20 breaks, the stock will probably fall to $10.

Potential upside:

  • Current price (as of 11/12/2020): $21.20
  • Entry price: $20
  • Stop: $16.75
  • 1st Target: $40 | Reward/Risk = 6/1 (100% upside vs. 16% downside)
  • 2nd Target: $50 | Reward Risk = 9/1 (150% upside vs. 16% downside)

Intel ($INTC) | Semiconductors

Intel ($INTC) stock chart
  • Intel’s stock fell 37% after peaking near $70 in January 2020.  
  • Currently, price is testing the support zone between $42-$44. If that zone holds, look for a move to $56, then $68.
  • If the zone breaks, the stock could fall to $36.

Potential upside:

  • Current price (as of 11/12/2020): $46.35
  • Entry price: Between $42-$44
  • Stop: $41.80
  • 1st Target: $56 | Reward/Risk = 5/1 (27% upside vs. 5% downside)
  • 2nd Target: $68 | Reward Risk = 11/1 (57% upside vs. 5% downside)

Recent news:

Apple is breaking a 15-year partnership with Intel on its Macs — here’s why
Tuesday’s announcement marks the end of a 15-year run where Intel processors powered Apple’s personal computers, a big shift for the semiconductor industry.

Analyst James Wang on Intel's future:

Read the whole thread here.


Beyond Meat ($BYND) | Alternative Proteins

Beyond Meat ($BYND) stock chart
  • Beyond Meat's stock fell 43% after peaking at $197.50 in October 2020.  
  • Currently, price is testing support at $120. If $120 holds, look for a move to $200, then $240.
  • If $120 breaks, the stock could fall to $80.

Potential upside:

  • Current price (as of 11/12/2020): $127.90
  • Entry price: $120
  • Stop: $112
  • 1st Target: $200 | Reward/Risk = 10/1 (67% upside vs. 7% downside)
  • 2nd Target: $68 | Reward Risk = 15/1 (100% upside vs. 7% downside)

Recent news:

Beyond Meat CEO seeks to clear the air on McDonald’s plant-based supplier mystery
Beyond Meat CEO Ethan Brown said the company’s relationship with McDonald’s is “very strong,” after McDonald’s revealed a plant-based food line but no supplier.
McDonald’s announces a new plant-based burger and they named it the McPlant
The meatless burger will arrive in 2021.

Nothing in this article is investment advice. It's for informational purposes only. Don't be lazy. Do your own research😉