Should We Pull the Trigger on These 4 Names Following Pullbacks?

With the recent pullback in this market, I do have a few buy setups to look at with a clear definition of risk. Let's start with Boeing (BA) . This name had a very healthy rally recently.

Now, one of the things I avoid in trading is "fear of missing out." I don't ever want to chase a market, because that's when you lose the edge in your market entries. When we get a healthy pullback like we've just seen, however, I have something to work with.

In the case of BA we have pulled back into a support zone that comes in at the $159.85-$167.74 area. It includes two symmetrical projections and a .618 retracement and a 50% retracement of another prior swing. A low was made directly into this zone at $166.01. Now, if price continues to hold above this key zone, the potential upside target in BA comes in at the $252 area. The second target comes in around the $276 area. I will consider myself wrong the setup if the key support cluster is violated. A strategy to consider would be a vertical call spread, keeping in mind that the first target is around $252.

Another stock that went on sale again is American Airlines (AAL) . If the last low made on May 14 is any good, then we should hold on a pullback to it. This pullback zone comes in at $13.81-$14.32 and the recent low was made directly in this zone at $14.07. As long as price holds above this key support decision, my potential first target comes in around the $25 area and the second target comes in at the $28 area. My entry setup is a bust if this same key support is violated. Note that we have already seen buy triggers in this name.

Let's also take a look at Beyond Meat (BYND) . My definition of risk on any new long positions comes in below the $131.95-$135.09 area. If this zone is tested and it holds, I want to consider a buy entry via a 15- or 30-minute trigger. At this point, I can see a minimum target at the $169 area. The actual target will need to be recalculated from whatever low is made into this support decision.

My last chart is for a secondary entry in Verizon (VZ) . Late May, we had a buy setup in this name and so far we've seen a nice rally off that low made on May 22. Now, if this low is any good, we should hold on a pullback to it. Right now, we are testing key support at the $55.41-$55.98 area. In this name I'd like to see a buy trigger on a 15- or 30-minute chart for a swing trade entry as long as price holds above here. It had not triggered just yet. If I do see a buy trigger, I'll look at a new buy entry with my risk defined about a dollar below the $55.41 area. The potential upside targets come in at $58.89, $59.73 and then $60.34. Let's see if these pullback zones hold up or not.

If you need help with triggers, lease watch this video. If you would like to learn more about my trading methodology, please watch this video.

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At the time of publication, Boroden had no position in the securities mentioned.