Traders,
I hope you’ve all had a wonderful weekend.
I look forward to sharing several of my top ideas with you for the upcoming week, including swing and intraday potential trades, as well as exit and entry scenarios.
So, let’s jump right into it.
Consolidation Breakout in CSCO: One of the few names right now on watch that aren’t too stretched to the upside. On that point, I’m certainly not looking to chase stretched names right now. I’m instead building out a lengthy list and waiting for the train to pull into the station, offering a better risk-reward.
With CSCO, I’ll be looking for a push above last week’s high and a clean hold. If that confirms with some relative strength to the market, I’d look to get long against the LOD for a multi-day swing. I’d trail against the prior LOD and trim into measured ATR upmoves.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Potential Day 1 Earnings Play: Big upcoming week with many household names reporting earnings. AAPL is the big one. Ahead of earnings, I’m not looking to take any action; however, following the earnings release, there could be a potential power earnings trade.
Given how AAPL has lagged behind many of its peers, if earnings surprise to the upside, I’d look for day 1 continuation to the upside. Specifically, I’d look for a gap give and go setup, or for key AHs and PM resistance to become support on day 1 intraday for a long entry.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Pops to Short in MEME Stocks: OPEN, DNUT, GPRO
OPEN – Both the long and short were undoubtedly the top opportunities of the month so far, just behind the Bitcoin swing long trade. Going forward, I hope for a dead cat bounce setup to re-short.
Ideally, I’d like to see the stock push back into potential supply areas above $3. Specifically, I’d love to see a short-term push and last-ditch attempt to squeeze back into the $ 3.2-$3.5+ area for a failed follow-through short against the HOD. I’d be open to a multi-day short swing if that sets up.
Similarly, I’ll also be watching for a similar type of secondary move in DNUT and GPRO.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Continuation in RBRK: The cyber space has experienced a steady reset and pullback in recent weeks. While I also have alerts set in PANW and FTNT for higher-timeframe consolidation breakout opportunities, RBRK might be a more immediate trade on which I take action.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
It’s a name that has previously experienced sharp upward momentum, followed by a recent steady pullback and bullish consolidation. The trigger to go long would be relative strength to its sector and reclaiming its 10 and 20-day SMA. I’d enter long against the LOD and trail against the prior LOD should it follow through, piecing out into ATR upmoves.
And lastly, to mention again, as I have for the previous couple of weeks, Bitcoin and Ethereum remain firmly on watch for me. Bitcoin continues to consolidate in a bullish formation after making a new ATH following the clean breakout. Historically, after a major breakout and consolidation thereafter, we have followed through. I’ll continue to monitor both Bitcoin and Ethereum for a potential breakout and a second leg higher.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.