Merchants,
I hope you all had a beautiful Thanksgiving vacation!
As at all times, I look ahead to sharing my prime concepts with you for the upcoming week. On this Watchlist, I’ll share my prime concepts and plans for every concept, together with my exact entry and exit targets.
So, let’s bounce proper into it.
Frontside / Momentum in UMAC (Drone Business)
After it was introduced that Trump Jr. joined the advisory board, the identify ignited, and so did the trade, leading to a theme play. Am I short-biased proper now? No. Why? The inventory closed above VWAP and stays in an uptrend. Subsequently, it’s nonetheless on the frontside, and momentum longs intraday are legitimate.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market elements akin to liquidity, slippage and commissions.
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Now, all of it is determined by the place this opens on Monday. I might be eager about a possible FRD setup if this gaps down. In that situation, I might be on the lookout for the inventory to stay heavy beneath VWAP and the $17 key space from Friday for a transfer towards $14, the place the squeeze and breakout intraday started. Alternatively, a failed push to inexperienced and affirmation of a failed follow-through setup.
Alternatively, if the inventory gaps up or opens flat, washes out, and reclaims VWAP, I might be targeted solely on additional upside for a possible parabolic transfer. In that situation, I might be targeted on momentum longs intraday till the inventory goes parabolic (a number of ATR extension over VWAP Intraday and quantity exhaust), by which case I’ll then shift to a brief bias and look to carry a core for in a single day swing.
Preserve it easy and keep in mind to think about: float measurement, what aspect of VWAP the inventory is buying and selling, quantity intraday, holding above the day gone by’s excessive/key assist? And whether or not the uptrend is unbroken.
Sympathy names on watch with UMAC: UAVS, JOBY.
UMAC is the chief and so-called head of the snake right here. I’ll carefully monitor sympathy names for lengthy and short-reactive trades to UMAC. For instance, if UMAC traps and breaks out, I might search for reactive momentum longs. As soon as the highest is in, I’ll look to brief the sympathy shares versus the HOD intraday and potential in a single day brief swing if we get a weak shut.
Consolidation Breakout in VST
The Thought and Plan: Simple consolidation breakout setup within the main inventory throughout the nuclear vitality theme and one of many top-performing S&P 500 shares YTD. I like how VST aligns throughout a number of timeframes and has contracted quantity and vary throughout this consolidation.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market elements akin to liquidity, slippage and commissions.
Subsequently, preserving it easy, I’m on the lookout for a burst in quantity and worth to push above the $162 mark. If that materializes, I’ll look to get lengthy on dips risking versus the LOD. The primary goal could be an ATR up transfer towards the $168 – $170 potential resistance space to take off half of the place and path the remaining versus the day’s low, focusing on a multi-day / 3-day transfer.
Extra Names on Watch with Alerts:
MSTR / Bitcoin: $100k BTC stays a notable space of curiosity. In that regard, I keep the same plan and general ideas as to final week’s watchlist. That plan stays related for the upcoming week.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market elements akin to liquidity, slippage and commissions.
IONQ, QBTS, QUBT: Once more, similar ideas as final week. Watching the sector and its chief, IONQ, for indicators of exhaust / parabolic and momentum shift for a number of days of revenue taking.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market elements akin to liquidity, slippage and commissions.
Failed-Observe By way of in COIN: Notable rel. Weak spot in COIN to different crypto-names, as many anticipated a breakout within the inventory. Occupied with momentum brief alternatives under key assist close to $290 – $288 for fast flushes.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the influence, if any, of sure market elements akin to liquidity, slippage and commissions.
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