Merchants,
I stay up for sharing my high concepts for the upcoming week, together with my exact entry and exit targets, and explaining the precise setups and eventualities I’m on the lookout for.
This week’s define will differ from final week’s. Final week, my plans have been concentrated and remoted to the A+ imply reversion setup in a basket of Chinese language shares. My plans and concepts are extra unfold out for the upcoming week, with out a clear A+ alternative but.
So, with out additional ado, let’s bounce straight into it!
Consolidation Breakout in ROKU
The Plan and Thought: ROKU, set to report earnings on November 6, has spent over a month consolidating in a bullish formation after reclaiming its 200-day SMA. Given the inventory’s ATR and beta, I’ll use smaller sizes and a wider cease. If the inventory breaks and holds above Friday’s excessive, I’ll enter lengthy vs. the LOD. After that, I might look so as to add to my place above the $79.65 pivot excessive, indicating a better timeframe breakout. From there, I’ll search for an ATR up transfer to start scaling out of the place whereas trailing my cease utilizing greater lows on the 15-minute timeframe.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
Continuation in Small Caps
The Plan and Thought: As I discussed in my newest Inside Entry assembly, I shall be hands-off till the IWM reclaims $220. On Friday, it did simply that. Due to this fact, I’m now on the lookout for a better low and affirmation of consumers stepping as much as help Friday’s shift in momentum. If market internals stay favorable and the IWM can affirm a better low close to its multi-day VWAP beginning Friday, I might search for an extended versus the day’s low. After that, I might look so as to add above Friday’s excessive, holding for a transfer towards $225 resistance whereas trailing my cease in opposition to the day before today’s low. If the transfer builds momentum and holds above $225, I’d search for a longer-term swing commerce whereas trailing versus the day before today’s low and sustaining a core place.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
Continuation in Financials
The Plan and Thought: The homework I gave in my newest Inside Entry assembly, forward of the breakout in financials, might have paid off. As I discussed, It’s at all times a good suggestion to have a listing of essentially the most promising names positioned for additional upside / displaying relative power when a sector is close to a big inflection space. The sector broke out on Friday, buoyed by main names posting strong earnings, specifically JPM. Going ahead, I’ll monitor the XLF for a multi-day continuation alternative, ought to the sector ETF pullback intraday – reclaim vwap (lengthy entry vs. 5-minute greater low) and take out Friday’s excessive.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
Monitoring TWG for Bottom
The Plan and Thought: On Friday, the corporate introduced a big providing of 27 million shares at $0.4 per share, anticipated to shut on October 14. The inventory closed simply above $7 earlier than fading within the AHs. This isn’t one I’ll look to combat if it holds over VWAP / multi-day VWAP on Monday. As an alternative, I’ll solely concentrate on it if 1) it goes parabolic and exhausts cussed shorts, organising a imply reversion alternative intraday, or 2) it stays heavy sub vwap, providing momentum brief scalps for a possible liquidation setup.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
Extra Names on the Watchlist:
LUNR: Falling wedge sample. Strong shut on Friday above its flattening 5-day SMA. Watching this for a maintain above $8 for a possible lengthy entry.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
CELH: Strong bounce on Wednesday and Thursday. Monitoring this for sideways motion and a possible second leg greater above final week’s excessive and 50-day SMA for a transfer towards $40.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
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