Was short this name on Friday and had nice gains that I never locked in because I am looking for the bigger move. Will be watching this week to spot lower highs and an area to get short with defined risk.
Would either like to short an emotional spike into the underside of the 20d/50d or I would look to short pops if we were to lose the psychological 100 level which would also be last week’s lows.
This swing idea was posted back when the stock triggered in mid-July. This is the first real pullback to get attractive prices on the longer-term swing setup. But it also may provide a great day trade if we can flush lower emotionally this week.
Will be looking for an emotional flush down towards the 130 area for the first shot at scooping some for a day trade....
Love the look of this weekly chart. Currently holding the weekly 20sma as well as the breakout area from this retest of the cup.
Would either look for a flush into low 84s for an opp to scoop an opening flush or would look to buy dips if we break over Thursday’s highs.
Have a nice flag forming up here right above the retest area of the last big breakout from earnings. Had a strong day Friday. I think the no-brainer long level is an emotional flush down to the 50d with risk under Thursday’s lows, but I honestly think if it were to come down to mid 73s and buyers show up, I would be ready to get involved in that area. If we break...
The name doesn’t have a ton of range, but this breakout that it triggered last Thursday makes me think that with the right entry, this could be a swing, so intraday range doesn’t become a concern for me. Love the volume on the name the last 2 days as well. It really helps me have some confidence that there are institutions getting involved here. Friday’s...
We broke above that 47400 level pointed out last week so we confirmed the higher low and we should be all clear for a 53k retest. Remember though, these valid long triggers create the most powerful short triggers when they fail. What do I mean by that? I mean that if we fail to get to 53k and instead break below the lows from 9/7, then watch out below.
The Nasdaq chart is actually a lot less concerning. There are still some serious levels of support that look ready to be tested. That 50d/quarterly pivot area around 15150ish looks strong. It would be a retest of the recent base that it broke out of and would actually be healthy for us to test, hold, and then find some strength.
The weekly 20sma is still quite...
Last week we saw quite a bit of heaviness to the market. Last Sunday Prep called for pops back into the underside of the 20d to be treated as possible areas of resistance where we could look to get short. As you can see we breached this trendline that we’ve been holding since last year. I still don’t think it’s time to panic as there are still plenty of levels...
