Merchants,
Comfortable New 12 months!
I’ll be easing again into issues this week, after a quick trip.
Now, with out additional ado, let’s get proper into this week’s watchlist:
Blow-Off in SIDU: SIDU’s reclaim on Friday was the perfect state of affairs. Bearish sentiment has been overwhelming for this small-cap, pushed by basic and dilution biases. However it’s stored trapping shorts and ticking alongside. I’m short-biased, however I’ve but to brief it. To represent an A+ brief, I must see this blowout, cussed shorts, after which fail to observe via thereafter.
Particularly, I’d wish to see one other day or two of hole and continuation, together with vary enlargement—alternatively, a major hole and a blow-off within the morning earlier than failing to observe via, or an FRD. As soon as the highest is in, I’ll give attention to shorting lower-highs / failed re-tests of prior resistance, concentrating on a transfer again towards $3, with a core place in opposition to the prior day’s excessive or multi-day VWAP reclaim.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
Continuation in House/Protection Shares: A number of names stood out final week for his or her relative power and bullish technical positioning.
Rocket Lab (RKLB) is without doubt one of the standout performers. On the next timeframe, it held key help close to $70 within the short-term, which was prior resistance from October. If a dip into the multi-day VWAP corporations, or if this bases above Friday’s excessive, I would look to get lengthy for a momentum lengthy commerce via $80.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
PL is one other identify inside the theme that’s holding up exceptionally nicely. Equally, it’s discovering help and constructing a base close to prior resistance round $20. I’ll have an interest to place lengthy if the relative power continues and the inventory can push above Friday’s excessive. My cease can be LOD for a multi-day continuation lengthy swing.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
Different names inside the sector that I’ll proceed to observe: ASTS, RDW, LUNR.
Uptrend Improvement in BABA: It’s not but clear how the information re: Venezuela will affect the market this week, or whether or not it might negatively affect Chinese language names. However because it pertains to latest power (BIDU breakout) in rising markets and Chinese language shares, BABA is wanting nice. Particularly, I like how the inventory lately pulled again towards prior resistance on the upper timeframe close to $148 and caught a bid. Subsequent up can be a maintain above Friday’s excessive / consolidation breakout after a number of days of consolidation/breakout above $160 and maintain. I’d path in opposition to the prior day’s low if it units up.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
Extra Names on Watch:
SLV Momentum Shift: Tight consolidation after the A+ parabolic commerce in SLV. Vital help has now emerged close to the 10-day SMA and $63.50 zone. I’ll be carefully watching that space to present approach and place brief. Alternatively, watching $70 in SLV for a possible failed follow-through brief or momentum increased.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
XLE – Power is Coiled: The power sector has been range-bound for fairly a while now on the next timeframe. If the information over the weekend catalyzes the trade within the coming days or perhaps weeks, I wish to be prepared. A number of names of curiosity to me: XLE (sector ETF), OXY, COP, XOM.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
MSFT: Bearish look right here after giving method to the 200-day SMA on Friday and shutting close to lows. On look ahead to sustained relative weak point and momentum brief scalps sub Friday’s low and better timeframe help.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
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