Another from the energy sector is Pioneer Natural. Decent volume and good range. We had a nice breakout, nice flag that busted above. We retested levels and reclaimed and kept going. I want to see this retrace back to the quarterly pivot (159.75) on a weak open and watch to see if buyers show up.
It may need to cool off after having quite the run, but I think pullbacks now are buying opportunities. If the $XLE were to pull back to the 48-49 area, I would be looking for strong energy stocks that were looking ready to get a leg higher.
Even though you will see me using trendlines in my charts, I always like to have a disclaimer that for me, trendlines are merely rough guides. I’m not delusional enough to completely ignore all the prior trendlines that could have been drawn that all would have been broken a dozen times over, only to be replaced by a new trendline when it made it convenient for...
So we finally did it! For the first time in over a year, we broke the lows of the previous month. Always keep in mind that that alone is not enough to cause concern. Remember, it isn’t the pullback itself that matters. It’s what happens afterwards. I’m fully focused on the weekly chart. The first challenge for this coming week is to see if we can break back above...
QuantumScape. I want a shot at buying this around the 24.00 to 24.70 area on a retest. If I get involved in this and it starts working I may have both a day trade AND a swing trade. That 24.50 area is both a monthly pivot as well as a retest of the breakout area.
DoorDash. May not get this on Monday but I want to get this around the 20d SMA as much as possible. If the 20d creeps up too much I’ll want to see this against last week’s lows (212.80 area). This name has been on a tear lately and I think it has more to go so I want to make sure I’ve got my eyes on DoorDash.
Earnings on Friday sent this big guy ripping back towards ATHs. 50% retrace of Friday’s candle puts us right into that quarterly pivot area. I would be interested in buying some early weakness in the name around that spot. This is the kind of chart where if the trade works and we close the day somewhere close to highs, I would be very inclined to swing a portion of it.
Palantir Technologies is another name from last week. It broke out beautifully and the chart is in tact. The pull-back was deeper than anticipated (but that came with the market imo) but it’s still strong and I want dips to buy. I’ll be looking for dips to buy.. like the 20d SMA but not sure I’ll get it. I may just start buying on dips risking against previous...
Airbnb probably wont be a Monday trade. This feels more like a Tues, Wed, maybe even Thurs trade. I want to see this find near-tern resistance right here before looking for a pull back. I want to be buying this as close to the 20d SMA as possible on a pull-back.
Last week in the Sunday Prep we pointed out that a break above 47400 that didn’t get back to the 53k area but instead rolled back over and then lost 42830 then to “look out below.” Well, that’s exactly what happened and the break of that level saw over 3k points more of downside. Bulls have some work to do here because at the moment you have all 3 major moving...
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...
