Merchants,
I’m excited to share my high concepts with you for the upcoming week. I’ll define my thought course of and entry and exit plans for my high concepts, which might make vital directional strikes this week.
So, let’s get proper into it.
Relative Energy Momentum Breakout in AAPL
Final week was a shortened week with remoted alternatives. Personally, I did properly by doing much less and managing my expectations, amongst different issues, which arrange a clear, all-green, stress-free week.
Apparently, the market is now shaping up for a possible follow-through to the upside after a pointy reversal into Friday’s shut, and plenty of highly effective reclaims throughout main names and sectors.
In opposition to the market and several other different market-leading big-tech names, AAPL displayed relative power final week and has shaped a bullish and favorable R: R formation.
Right here’s my plan for AAPL:
*Please word that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
Firstly, the place am I flawed? I’m flawed if the upper low pattern on a number of timeframes breaks. So, my cease will initially be in opposition to Friday’s low after which path larger in opposition to the earlier larger low on the 15-minute timeframe.
So long as AAPL continues to show rel. Energy, I’ll search for a better low entry this week. As soon as the upper low / pullback confirms and recovers, I’ll enter lengthy with the cease positioned. Alternatively, If a breakout over $193 resistance holds agency, I’ll enter lengthy with a cease on the LOD.
My first goal might be a 1 ATR transfer to cowl half of the swing. After that, over a number of days, I plan on scaling out of the place because the inventory makes vital larger highs, piecing out every time on the 15-minute timeframe and trailing my cease.
Further Concepts:
UBER: Prolonged pullback/downtrend in UBER. Warning: Don’t battle the pattern. I’m on the lookout for a break from the earlier three-day vary and maintain above final week’s excessive. That may sign that the inventory is prepared for a multi-day bounce. I’d go lengthy vs. the day’s low, on the lookout for a 20-day SMA reclaim, and transfer towards $68 as a primary goal, with the primary goal a transfer towards the declining 50-day close to $70.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
BNAI: Nice liquidity entice on Friday after catching shorts off guard. After the weak shut, I’ll search for a pushback into potential provide close to $6 – $7 for failure and a brief entry. I’d enter on affirmation, cease above the excessive of the day, and search for a transfer towards low $4s.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
IBIT: It continues to consolidate with Bitcoin, after all. I’m monitoring for a breakout in quantity and value above final week’s excessive for a leg larger.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
FFIE: It’s nonetheless impressively up from the place the transfer began. I hope for some extra PRs from the corporate and pops close to $0.7 – $0.9 to re-short. I’ll proceed to have alerts set to brief on strikes larger, as this can discover its manner again to the place it got here from in due time.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
NVOS: This had spectacular quantity on Friday. If it reclaims low $1s and begins to churn, look ahead to a possible liquidity entice or T+2.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements resembling liquidity, slippage and commissions.
