Merchants,
One other eventful week! As at all times, I sit up for sharing my prime concepts for the upcoming week with you all, together with entry and exit targets.
As I discussed in my earlier watchlists and studied and reviewed intimately in my Inside Entry conferences, it continues to be an opportunistic tape for momentum, move-to-move buying and selling.
As mentioned in my most up-to-date IA assembly, as soon as we see the market form up in a selected trend, that focus would possibly shift again to swing buying and selling.
So, let’s get proper into this week’s prime focuses.
(NASDAQ: TCTM) Alright, beginning off this week with a small cap. TCTM was Friday’s small-cap taste of the day. The inventory punished cussed shorts early on, and offered unimaginable momentum longs above vwap, till the vary and vol expanded, blowing out shorts and providing an A+ intraday parabolic quick and reversion again to VWAP – what I used to be on the lookout for.
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Given the float, SSR, and the unbelievable quantity traded on Friday, I don’t suppose it’s carried out. I’m not saying it will possibly make new highs. Nevertheless, I feel on the very least, contemplating T+1 and potential failure to ship, it may see a pushback towards $1 early subsequent week.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements akin to liquidity, slippage and commissions.
With that chance in thoughts, I’ve two commerce potentials. First, I’m trying to quick the inventory if it swipes early on Monday towards .9 – $1+ and stuffs / fails to comply with by means of. I’d quick versus the HOD and be affected person with a cease trailed concentrating on a canopy towards the shut.
Alternatively, suppose the inventory has a push early on Monday and consolidates above 0.9, churns, and traps shorts. In that case, I’d search for a consolidation breakout lengthy, concentrating on a transfer nearer to Friday’s excessive. This might simply be an intraday momentum lengthy.
(NASDAQ: RKLB) The most effective swing longs from final yr, having mentioned the breakout alternative at $8 with Inside Entry. Unbelievable follow-through and progress for the corporate. Nevertheless, with the inventory having virtually an inside week and holding above its 20-day and 5-day, I’m targeted on short-term momentum. I’m inclined for a breakout lengthy intraday, given the place the inventory is. Nevertheless, if RKLB takes out final week’s low and breaks its 20-day, I’ll be on the lookout for intraday momentum shorts, doubtlessly concentrating on its rising 50-day. If the inventory takes out its excessive from final week, i’d look to get lengthy and goal a transfer towards overhead resistance close to $32.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements akin to liquidity, slippage and commissions.
(NASDAQ: RDW) One other house identify. Given it’s shut on Friday, I’m inclined to arrange for a possible failed follow-through setup. If we see some air come out of house names, for instance, if RKLB fails under key ranges, I’ll look to get quick RDW on a decrease excessive, given Friday’s failed transfer larger, for a possible fast transfer decrease. Excellent entry can be a stuff towards it’s 2-day or multi-day VWAP from Friday, for a transfer again towards assist close to $22. Once more, only a momentum IF/THEN situation.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements akin to liquidity, slippage and commissions.
Some Extra Backburner Concepts and Alerts
SPY: Weak shut on Friday within the AHs. I don’t wish to see us fail to carry the 50-day; if that had been to occur, final week’s low would come into query. Ideally, we get the next low vs. final week’s low and reclaim $600. Comparable positioning in QQQs. Momentum may simply spill out if we fail to carry the 50- and 20-day.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements akin to liquidity, slippage and commissions.
TSLA: Large ranges are forming on the day by day now, with converging 5, 20, and 50-day SMAs in the midst of the vary. Subsequent week ought to be telling for a reactive and directional transfer both above or under key resistance or assist. Monitoring relative energy/weak spot, for a possible directional momentum commerce above or under final week’s excessive/low.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market elements akin to liquidity, slippage and commissions.
NVDA: It has a big vary and main ranges from final week, just like Tesla. Early within the week, I’ll determine relative energy/weak spot relative to its sector and market positioning for reactive trades into assist. I’m open to going lengthy if assist holds close to $118 and open to going quick if we maintain under key assist and lead in relative weak spot.
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