Traders,
I look forward to sharing several of my top ideas with you all for the upcoming week, including both intraday and swing trade ideas.
Continuation in GOOGL: This played out perfectly on Friday, for initial entries. I outlined this on Thursday in my IA meeting, and discussed why I liked GOOGL for a swing long, and what I was looking for to enter long. Friday gave the perfect entry opportunity, but what if I was looking for a fresh entry and missed it on Friday? I’d be looking for a pullback and higher low / hold above the 2-day VWAP from Friday, with a loose stop toward Friday’s low, for a swing long.
*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 RKLB: Another name I’ve discussed in detail lately in IA, as it continues to build and hold up. I especially like how the name failed to break down and is now back on the cusp of a breakout. If RKLB can continue to build and hold above Friday’s high, and its 20-day, I’d be open to entering long against the LOD for a potential multi-day / week+ swing long. Of course, it’s imperative that it continues to show r/s.
*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.
Breakout in NBIS: It has displayed impressive strength recently, post-earnings, and held up well. If NBIS can push above its 10-day, that might be enough for me to enter long with a LOD stop, targeting multiple days of continuation.
*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: The meme mania continues to build in OPEN, and with Friday’s breakout, it doesn’t seem to be going away anytime soon. In fact, it set up perfectly on Friday’s close for a continuation gap over the weekend into Monday. So what’s my plan going forward? Firstly, regardless of the fundamentals and personal bias, it’s firmly on the front side, so objectively, there is just no reason to be short right now.
I’ll continue to be open-minded and willing to both short and long intraday. When will I shift to shorting for the eventual A+ opportunity? Only after the stock extends to the upside or fails to follow through. So, either it needs to experience multiple days of upward expansion in both price and volume, or it needs to fail to follow through, i.e., it needs to have a first red day, or it needs to experience a significant shift in trend and character after failing to breach a key level.
*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 Liquidity Trap in PTIX: I’m not holding my breath on this idea, but it’s one I have alerts in. Why? Tiny float and immense volume traded on day 1 on Thursday. On Friday, it never really went away and continued to hold up decently well. So, if it begins to grind back over $5, I’ll monitor price action and volume for a potential liquidity trap and squeeze through Thursday’s key level.
*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 ELAB: Straightforward short idea here; I’m looking for a day 2 push back toward $2.75 – $3 for failed follow-through and an intraday short opportunity back to the low $2s
*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: Absolutely incredible strength displayed on Friday and closed back above $340 key area. If TSLA can continue to build and display r/s, I’d be looking for a long against the day’s low with $350 target 1, and maintaining a core against the previous day’s low for $360 lofty target 2.
*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.