Traders,
As always, I’ll be sharing some of my top trading ideas for the upcoming week, including entry and exit targets.
Several Ideas are on the radar, but nothing is jumping out to me with A+ potential, so it’s going to be a more wait-and-see type of week.
Alright, starting the ideas off with…
Downside Momentum in BLSH: Certainly not A+ or even close, but it’s a straightforward setup with clean support. $68 was the day 1 IPO low, which held as significant support. On day 3, this area was tested multiple times and maintained support. So what’s the trade idea? I’m not going to get cute and into hyper scalper mode with it. I’ll only trade the name if we finally crack $68 and hold weak. If that happens, I’ll short against the key level and trail against the previous lower high on the 5-minute.
*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.
Meme-Mania in OPEN: Really impressive comeback in OPEN, but not surprising at all with all things being considered here. Until an outlier move happens, like the move to $5 previously, I will not be biased. Did a good job trading it both ways on Friday, and that will continue to be the case going forward as long as it remains in-play.
So, if we push early next week back into overhead from Friday and the initial run up, I’d be looking for initial signs of failed follow-through for an intraday short against the HOD. Alternatively, if washes find support and consolidate back near VWAP, I’ll look for intraday long scalps to take advantage of short clear outs. Now, I’m hoping this gains some legs and squeezes out at some point for an A+ re-do, similar to what we saw on the run near $5.
*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 TSLA: Great swing in TSLA out of the coil and on the 200-day reclaim. And also great targets into resistance of $340 and $350. Now, as I mentioned in my recent IA meeting, I’d only be interested in getting long again if we pull back near the 200-day and 10-day moving averages, find support, and confirm a higher low. Then, and only then, would I consider going long on $340 support reclaim for a move back toward $350 and potentially outer resistance near $360 main target.
*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.
Additional Ideas On My Radar:
UFG: Not for the beginner. We saw FLYE and CUPR do it on Friday. I’ll be watching UFG this week for similar action and a similar outcome. But again, these scam liquidators are not for the faint of heart.
*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.
UNH: Starting to see significant rotation into healthcare and, of course, UNH. I’ll be keeping a close eye on UNH for a multi-day range to develop and initiate a long above resistance, potentially above $310 for a multi-day momentum swing.
*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.
TIVC: I’ll have alerts set in this small-cap fader from Friday for a short re-do in case it pops back up toward $4.5 and fails, for an intraday short.
*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.
HGRAF: OTC runner, which extended significantly on Thursday, followed by range tightening on Friday. If this cracks Friday’s low, I’ll be short target a reversion toward $1.5, with a trail on the rest against VWAP.
*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.