Cleveland-Cliffs Inc. (NYSE: CLF), currently trading for $5.
Chris likes the technical momentum behind the stock and thinks a short-term rally between $5.50 and $6 is likely.
So, investors would be wise to buy at the money call options to profit.
Independent Bank Group Inc. (NASDAQ: IBTX), currently trading for $36.20.
Chris also likes the positive technical momentum buildings under IBTX its 20-day moving average recently passed through its 50-day moving average to the upside. This is partly fueled by short sellers being forced to cover their positions.
Chris thinks this trend will continue and has a $40-$42 price target on the stock, which could happen in the next couple days.
Dicks Sporting Goods Inc. (NYSE: DKS), currently trading for $35.50.
Pent-up demand that has been building since the start of the shutdown is now able to be realized as consumers return to the stores.
Chris thinks the stock will easily reach $40 and could even run 10% to 20% higher from there.
Shah admitted he has missed this rally so far. But he doesn't think we're out of the woods just yet...
You see, there's still a lot of uncertainty regarding how strong consumers will return once more economies reopen.
Simply because governments announce businesses are allowed to resume does not mean the same number of people will come back and spend like they were before the pandemic.
Scott Gottlieb also told CNBC today he expects one more cycle of the virus to hit in the fall, heading into the winter.
And he said, "a vaccine is probably a 2021 event, in terms of having wide availability for the general population."
So, Shah still thinks it's possible for markets to experience more volatility over the summer and into the back half of the year.
Catch us tomorrow - starting LIVE again at 8:45 a.m. EDT with Chris Johnson, right here.
If you missed our livestreams today, you can now replay them on our YouTube channel, here.
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