Merchants,
I hope you all had a beautiful weekend!
With out additional ado, let’s get proper into a few of my principal focuses for the upcoming week:
Breakout Consolidation in TSLA: Related 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 keep watch over it every week.
From the weekly all the way down to the day by day, it’s aligning exceptionally properly throughout a number of timeframes, and within the short-term, it’s starting to show some relative power and get ‘that look’. Till it pushes above resistance and confirms the breakout, there may be nothing to do apart from monitor worth motion and search for relative power to proceed to shine. As I’ve stated many occasions, 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+ dimension.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements reminiscent of liquidity, slippage and commissions.
Weak spot in Bitcoin this Weekend: Bitcoin, on the time of writing, is sub 90k, which can current a possibility on Monday for momentum scalps. If Bitcoin stays weak sub $90k, I’ll be targeted on IBIT. Beneath 90k and final week’s low, there might be important momentum scalps to the quick facet if it makes an attempt to observe by means of out of this bear flag. I’ll be on the lookout for weak holds beneath final week’s low and intraday VWAP for a brief momentum commerce. I gained’t be trying to swing this quick—strictly move2move buying and selling.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements reminiscent of 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 value 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 on the lookout for failed follow-through thereafter and quick scalps intraday for reversals.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements reminiscent of liquidity, slippage and commissions.
NVDA Quick if Market Shows Weak spot: If the general market follows by means of to the draw back after Friday’s transient weak point, one of many names I might be targeted on is NVDA. I see $165 – $170 as a key assist 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 observe that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements reminiscent of liquidity, slippage and commissions.
Equally, Sub Friday’s low, I’ll even be watching NBIS for an intraday quick 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 one more day or 2.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements reminiscent of 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 assist, with $185 appearing as higher-timeframe assist. Beneath that stage and holding weak, I’d deal with an intraday short-momentum alternative.
*Please observe that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements reminiscent of liquidity, slippage, and commissions.
Further Watches that Want Additional Time to Develop / Consolidate:
XLF – Sector-wide power, on the lookout for a maintain above resistance and recent entry on continued power.
RKLB – On the lookout for re-entry on the lengthy swing now. Ideally, a pullback and a better low/consolidation.
BEAT – Both did not observe by means of close to $2.8 false liquidity lure to quick, or push and squeeze for liquidity lure longs earlier than a brief on failed follow-through.
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