Traders,
I hope you’ve had a brilliant weekend!
A nice change of pace last week, which played out well from my previous thoughts in last week’s watchlist. We certainly had an uptick in swing opportunities, combined with an abundance of intraday small-cap opportunities – unsurprisingly given the move in SMX and exceptional reclaim in the IWM…and overall market.
So, without further ado, and without making any major adjustments week over week, here are my top ideas for the upcoming week.
Stalking an A+ Breakout in TSLA: As I mentioned in my recent IA meeting, the move I am looking for in Tesla is separate from the trade I discussed in Thursday’s meeting. On a higher timeframe, Tesla continues to consolidate in a tight coil. From the weekly, down to the daily, it’s a beautiful setup that aligns well. The trigger? I’d look to enter long for an A+ breakout and swing trade if this gets above $470s again. Until / and if that happens, I’ll hope this spends some time consolidating in the upper end of its coil’s range, building up some energy and contraction ahead of a potential breakout.
*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 / Further Build and Continuation in IRBT: Fantastic swing long, which I closed out on Friday on the push toward $5 and extension from intraday VWAP. Now, after the significant selloff, I’d imagine longs are trapped for the time being. Therefore, I’d be open to shorting a push toward its 2-day VWAP near $4.2. Alternatively, if this consolidates and tightens its range for a few days, I’d be open to a re-entry on the long side if it breaks out on significantly lower volume than last week.
*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.
Liquidity Trap in WHLR: Nothing to do as of right now. But given the amount of liquidity traps we saw recently, I’m keeping this on my radar. Think PLRZ, IRBT, SMX. If this breaks back above Friday’s resistance and holds, I’d look for the liquidity trap-and-squeeze idea to play out.
*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 JFBR: Given the enormity of the selloff on Friday, I don’t believe this will set up; however, it’s worth alerts. I’ll have alerts in the name for a push toward 2.5 – 2.9, in case it has a quick pump into its 2-day VWAP, indicating failed follow-through and a 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.
Continuation in RKLB: Another fantastic swing from last week. After coming into the targets and the 100-day, I’m now looking for a day or two of rest before another potential long entry, then push toward its 50-day and $55 region.
*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 VIAV: For a new entry here after missing Friday’s breakout, I’d need to see a higher-low / quick check-in at the multi-day VWAP, and support being found.
*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 Forming in GEV: Same thoughts as I mentioned in my IA meeting—brilliant bull flag and looking to breakout.
*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.
Monitoring OPEN: Similar to my thoughts last week, I am keeping OPEN on my radar given the tight bull flag that continues to develop on the daily.
*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.
CIFR / IREN: Looking for relative strength and for last week’s resistance to be taken out to position long for a multi-day move.
*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.