Merchants,
It was one other constructive week available in the market, with a pullback and relaxation interval towards the 50-day SPY. That was a really perfect transfer, enabling a number of large-cap shares to additional construct earlier than breaking out for continuation. Names from final week’s watchlist, like HOOD and TESLA, each adopted by means of excellently to the upside, providing implausible R/R.
With glorious follow-through final week after a multi-day pullback and relaxation interval, I’m coming into this week a bit extra nimble. I’ll be on excessive alert for feedback and developments from the China—US commerce talks and earnings play, with many firms nonetheless reporting.
So, with that being mentioned, let’s get into a few of my high focuses for the upcoming week, together with a number of large-cap and small-cap concepts.
Consolidation Breakout in OKLO: Stable reclaim final week of its 50-day, and optimistic sector feedback. Just like the plan in HOOD from the earlier week, for instance, I’m in search of additional construct and consolidation breakout, or a gap drive entry above Friday’s excessive. For entry, I’d look to enter lengthy above Friday’s excessive with a LOD cease. Goal 1 is the current pivot excessive of $31.5 and 1 ATR from the breakout level. Thereafter, I’d go away a core on trailing towards both the LOD or maintain beneath VWAP, relying on the intraday motion and quantity.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
TSLA: Wonderful breakout Friday and measured transfer into the 1 ATR goal. I closed out the multi-day swing on Friday. Going ahead, I’ll search for intraday momentum if the inventory holds above $295 on dips and shows relative energy to the general market. If dips get purchased into $295, I’ll search for an extended towards the low, with targets between Friday’s key resistance areas, particularly $300 – $303 and $307. I’m open to holding a swing core once more if we maintain above VWAP and show relative energy for continuation above Friday’s excessive.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
HIMS: At this level, I’m treating this as a buying and selling car. Wonderful follow-through and momentum final week. With a maintain above its 5-day and $50, sturdy momentum, and excessive brief curiosity, this may expertise additional upward momentum this week. Above Friday’s excessive, I’ll be in search of intraday momentum lengthy scalps, and stay lengthy biased. Ideally, this extends for a number of days to the upside earlier than organising a possible A+ reversion alternative. Nonetheless an extended method to go for that to occur, however that’s what I might be all for. Till that units up, both with a number of days of extension to the upside into $60 +, I’ll be centered on momentum to the upside, till it extends or fails to carry above $50.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
Failed-Observe By way of Setups in Small-Scaps
ASST: Stable uptrend break on Friday with failed follow-through into resistance ($8.8 – $9). Going ahead I’ll search for momentum beneath $7, or failed strikes and decrease highs towards resistance and provide close to $8.5 – $9 for intraday shorts.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
NXTT: This one caught shorts off guard Friday, and blew out within the AHs. After such an excessive transfer on day 1, whereas we’re in a powerful small-cap cycle, I’m extra inclined to search for a brief going ahead. All of it is dependent upon the place this opens on Monday. Usually, I’ll now be centered on failed strikes above $4, into $5, and laborious stuffs for a brief towards the excessive, with both a 5-min decrease excessive path or brief towards the HOD, relying on the motion. I’ve little interest in shorting within the gap on any vital hole down. Any $5 reclaim and push, I’ll be palms off ready for the bottom.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
SYTA: I’ll simply set alerts on this identify: $1.7 – $2 to watch value motion if we get again within the vary. If the inventory stuffs close to $2, I’d search for an intraday brief scalp.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
ZKIN: That is one other one I’ll have alerts for. If there isn’t a providing or hole down, I’ll monitor this for sideways motion and a possible liquidity entice for a squeeze larger.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
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