Merchants, I hope you’ve all had a beautiful weekend.
I stay up for sharing a number of of my prime concepts with you for the upcoming week, together with swing and intraday potential trades, in addition to exit and entry situations.
So, let’s leap proper into it.
Pullback in QS: Unimaginable run and momentum over the earlier weeks in QS. However, with the RSI closing within the 90s on Friday, vital vary and quantity enlargement over the earlier two days, and a serious enlargement from shifting averages, I’m now leaning firmly on the quick aspect.
It’s additionally essential to recollect earnings mid-week for the inventory. Now, given the earnings, no matter my private bias, I received’t be seeking to maintain this for a swing. Moderately, I’m simply on the lookout for a profit-taking, one-day selloff occasion. Now, I believe we’re within the closing innings, contemplating the value motion over the earlier two days, however I’ll solely quick as soon as I see a serious change of character.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market components corresponding to liquidity, slippage and commissions.
Particularly, to get quick I have to see one of many following: the inventory expertise failed comply with by way of close to a key degree (HOD for instance) and holds beneath vwap (change of character from earlier days). Or, I’d have to see a First Crimson Day setup materialize. Lastly, and better of all, could be a niche up and blow off within the morning.
Relating to a imply reversion/pullback commerce, I’m monitoring JOBY for the same alternative, though I fee it decrease than the setup in QS.
Continuation in RDDT: Beautiful chart forming throughout increased timeframes. I particularly just like the 200-day SMA reclaim, adopted by a good consolidation at converging 10-20-day SMAs. If the inventory can push and maintain above Friday’s excessive and intraday VWAP, I’d think about going lengthy in opposition to the LOD for a multi-day swing.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market components corresponding to liquidity, slippage and commissions.
Breakout in AAPL: Beautiful setup forming in AAPL as properly. The one distinction between this and RDDT is that AAPL stays beneath its 200-day SMA. On condition that, I wouldn’t be aggressive, contemplating the general pattern and overhead. However, if AAPL can take out final week’s excessive and show notable relative energy on the day – a big change in character – I’d go lengthy in opposition to the LOD for a multi-day swing lengthy.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market components corresponding to liquidity, slippage and commissions.
Intraday Momentum Breakouts in Quantum (IONQ, QBTS): The 2 best-looking charts within the trade for me are IONQ and QBTS. Now, elementary bias apart, from a technical perspective, with severe momentum and clear ranges, I’d definitely be open to momentum intraday longs on a clear breakout by way of vital resistance. So, for QBTS, that’s round $19.70. For IONQ, Friday’s excessive is the KL to observe for quantity and agency assist above.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market components corresponding to liquidity, slippage and commissions.
Further Concepts:
Bitcoin / Ethereum: Relating to Bitcoin, crypto, and crypto-related names – Nothing has modified week over week for me. Identical ideas as final week.
*Please observe that the costs and different statistics on this web page are hypothetical, and do notreflect the influence, if any, of sure market components corresponding to liquidity, slippage and commissions.
Photo voltaic Names Appearing Effectively: TAN, SEDG, FSLR are holding up exceptionally properly and forming bullish bases. On watch within the coming days/weeks for a breakout entry.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market components corresponding to liquidity, slippage and commissions.
Pops to Quick in TELO: I’m uncertain, primarily based on its historical past, but when TELO pops up early subsequent week $2.5 – $3, I’d look to re-short submit failed follow-through.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market components corresponding to liquidity, slippage and commissions.
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