Merchants,
I hope you all had an exquisite weekend!
With out additional ado, let’s get proper into a few of my primary focuses for the upcoming week:
Breakout Consolidation in TSLA: Comparable ideas to prior weeks; Tesla stays on look ahead to a breakout above the $ 475-ish resistance zone. There’s, in fact, no assure, however the setup is so textbook that I regulate it every week.
From the weekly all the way down to the every day, it’s aligning exceptionally nicely throughout a number of timeframes, and within the short-term, it’s starting to show some relative energy and get ‘that look’. Till it pushes above resistance and confirms the breakout, there’s nothing to do apart from monitor worth motion and search for relative energy to proceed to shine. As I’ve mentioned many instances, it’s too good a setup to lose sight of, subsequently I’ll proceed to have this on watch so long as it continues to construct. If it breaks out within the coming days/weeks, I’ll be positioned for a multi-week swing commerce lengthy, with A+ measurement.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
Weak spot in Bitcoin this Weekend: Bitcoin, on the time of writing, is sub 90k, which can current a chance on Monday for momentum scalps. If Bitcoin stays weak sub $90k, I’ll be centered on IBIT. Beneath 90k and final week’s low, there might be vital momentum scalps to the brief facet if it makes an attempt to comply with by means of out of this bear flag. I’ll be searching for weak holds beneath final week’s low and intraday VWAP for a brief momentum commerce. I received’t be seeking to swing this brief—strictly move2move buying and selling.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
Pops in Final Week’s Liquidation Performs: The small-cap alternative final week was dominated by pump-and-dump sort motion. Much like the worth motion on Friday in OCG, I see the chance there sooner or later. So, if OCG, MIGI, or JZXN pops again and might prolong a bit intraday from VWAP – squeezing out some early keen shorts – I’ll be searching for failed follow-through thereafter and brief scalps intraday for reversals.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
NVDA Brief if Market Shows Weak spot: If the general market follows by means of to the draw back after Friday’s temporary weak point, one of many names I can be centered on is NVDA. I see $165 – $170 as a key help zone, which might be a main goal for short-covering intraday. Thereafter, if NVDA breaks beneath that zone and holds weak, it opens the door to a bigger transfer towards its 200-day SMA close to $156.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
Equally, Sub Friday’s low, I’ll even be watching NBIS for an intraday brief alternative if the theme of Friday continues additional. Beautiful bear-flag and maintain sub the 100-day SMA, with doable additional draw back if Friday’s fears proceed for an additional day or 2.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
Momentum Scalps in ORCL: Much like NVDA above, if capital rotates out of names associated to AI capex fears, ORCL may current a singular short-scalping intraday alternative. On a better timeframe, Friday’s low traces up as key help, with $185 performing as higher-timeframe help. Beneath that degree and holding weak, I’d concentrate on an intraday short-momentum alternative.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements resembling liquidity, slippage, and commissions.
Further Watches that Want Additional Time to Develop / Consolidate:
XLF – Sector-wide energy, searching for a maintain above resistance and contemporary entry on continued energy.
RKLB – Searching for re-entry on the lengthy swing now. Ideally, a pullback and a better low/consolidation.
BEAT – Both did not comply with by means of close to $2.8 false liquidity entice to brief, or push and squeeze for liquidity entice longs earlier than a brief on failed follow-through.
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