March 02 - 2021
Huge inverse head and shoulder that tricked bulls lately. Broke out, then bulltrap, then broke down, bear trap, with the market that also made the biggest bear trap in a while last week.. BUT pattern still there and broke out on bigger than average volume yesterday. Levels : 229.6 then 244
Huge ER beat yesterday and ran all the way up until the bell. Nice 8% move up AH to be around 444 as I write this. Growth in this one is unbelivable. If it can get 452 - It gets crazy to 483 to go to that gap on chart
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Running a lot lately as value continues to bring buyers. took a breat or two last week ans now sitting at the top of the gap fill from March'20. could consolidate here and set another run to test upper trendline around 29.50 and need 0.618 fib to be broken to upside at 28.86. Note the big accumulation volume going on this one lately. all MA pointing up on daily this one not done.
$QS can pull a move above 61 to 69 then hard trend line but if momentum gap fill to 84 as shown on charts.
$BA On FIRE finally broke the resistance of the IH&S break out line around 222. Very strong volume here and this is taking stock on a calculated move to 240. Levels are 234, 244, 248. Look for continues Option FLOW in to confirm the move and need to hold 50% of the yesterday move to be valid.
$TSLA : This one been pounded hard last several session as it lost its 9SMA ans 21SMA failing to break out higher on a diamond pattern break out. Both short term moving average a pointing hard south. It triggered big selling with the market fulsh on febuary 23th. It holded perfectly its 100 SMA to bounce hard on volume and reclaiming the important Alphatrend Anchored VWAP line from Nov 16th break out point. It closed at 698, but showing 728 pre market (up 4.17%) We have a clear path to 770 level (50 SMA on daily) then a big bump as the 9SMA about to death cross hard on the 50SMA. I expect some selling pressure there. Remember Cathy from $ARKK investment loaded 300 millions of dollars of $TSLA shares on the dip yesterday, thats huge ! When cathy load like this, stock goes nuts. Temped to load some leaps on the name, but will need 9SMA to flaten and curl up a bit before I do. Will play next week calls here if we dip at open and hold Alphatrend VWAP for a 750c strike.
$SNAP : Its has been flushed with the market (took long position @ 65 this week as chart was one of the hottest on the market) Did not took long for it to EXPLODE on the CEO notes that they see multiple years or 50% growth rate. Stock ran from 59 to 70 on volume. Next resistance sits at 71.50 ( 1.618 fib) then blue sky to 85. Loving this one and will trim when we approach 85. Will play April calls on a back test of the upper trendline that broke out on Feb 23th. Will alert to members strike.
$XLF (financials) and $XLE (Energy) been doing reallt nice lately and charts tells its not over. I do love Financials a lot and picked up THREE stocks here that could run nicely this week.
$BCH is the first just breached an important upper trend line (UTL) and made a beautiful back test to activate the support last week. Nice accumulation volume also. No volume shelf resistance and a break above 23.10 ish area (right at it on chart below) brings a push to 24.89
#TRADEIDEA Can go long the stock above 23.10 with a stop at 22.7 for a move to 24.8 (5:1 risk/reward)
The other one is $APO - Just about to break pre-COVID price at 52 then 54.85 comes. above that is the next fib extension (1.236) at 60.47. RSI not overbought yet so could move. No real resistance volume above this also.
#TRADEIDEA : Can go long the stock above 52 with a tight stop at 9D (51.25 or so) for a possible break out to 60 (need 54.85 to break also) its a Swing trade.
$AON another one I've been watching since May 2020, really broke an important trend line here and consolidated just above it coilling nicely around 225. Looking for a push into the green gap and a run to ATH at 238 pretty fast as long as financials continue to outperform. MACD about to death cross so really need to hold the trend line. above 229 no real resistance but 238 then 250 as mental
#TRADEIDEA : go long the stock at 228 with a stop under 226 for a move to 238 (5:1 risk/reward)
Good morning !
Levels to watch on $SPX are 3937 to see 3960. Then need to hold 3912 or we fold to 3881 then 3864
Stock on watch today :
- $WMT as it may bounce from its daily 200SMA alert is placed on a 30 mins time frame for 140 next week calls if it's bouncing
$HD again for a move to 292 on the TL hold and break out 282
Been calling this ne for days now - Its ready ! watch it blow to 94 then 101
$PRU Been consolidation for the last 2 weeks in a range 72-82 and looking to break out here as the price above 9/21 SMA and those just golden crossed on daily. RSI pointing up at 60 level and MACD about to cross. Volume shelf show no real resistance on daily here and voume is in accumulation mode. Break out imminent. Financials are very hot lately, must watch
#TRADEPLAN : If 82 holds we can aim 89 on a 4H time frame. So that means in a 2-3 days horizon. Would consider 03/19 82.5c ATM (At the money) around 3.4 for a possible move to 7-8. A move undder 82 ans close under would invalidate the play and stop us out.
$POWI Also looking vwery good here out of the green box. indicators pointing up saved by 9D and a break of 94.5 takes us to 101
#TRADEIDEA : Options not very liquid, but there is 200+ contracts sitting at 110 strike 04/16 expiry. Could be a nice play here and a 100% winner if we ssee 101 in a 7 days time frame. Otherwise, play the stock on a break of 94.5 to 101.
EARNINGS: Know that $WMT and $GOLD repost today BMO and $ROKU $AMAT $TTD $EHTH $CPRT all AMC
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Have a good trading day
Good morning traders ! A little red open today on major indices.
Watching today :
$WMT Printied a nice Blue Raindrop Doji candle (Trendspider scan) meaning same close and open price. Just above the neck of the inverse heand and shoulder pattern. Strong indicators all pointing up and look to break to volume shelf at 145 level. Loving 150c 03/19. A setup to watch for the next few weeks.
$COTY a smaller stock not perfect on weekly but loving the daily setup coilling into the resistance and just above major volume shelf this AM. Now 7.26. Possible move to 7.86 (8% move) then 8.20 (14% move) on deck. Would not be suprised to see a gap fill to 11.73 ( possible 62% move) . Remember this stock has a 5% short float. Not big to set a $GME type short squeeze but enough to trigger a gap fill if short covers.
Good morning folks ! Here is some name I will be watching for the day:
$BNGO Consolidate for 2 weeks now and broke out the wedge it was forming on daily. Closed just above the weekly fib extension 1.382 at 13.63. gapping up pre market 4% at 14.26 as I write this. the calculated move on this wedge up it 17. If we hold on a dip above previous fib we could see next 1.618 fib at 15.87 then 17.
#Tradeidea : will be looking at 03/19 17c around 2.5 for a possible move ITM at 3.5 (as you can see premiums are jacked on this one because of IV) Can also play common with levels mentionned above
$HYLN This one been pouded hard last year and looking for a reversal here on HUGE volume. Just in the volume shelf and not a lot of liquidity upside to block the move. Above major trend line and looking to go to the gapfill upside (21.50 to 23.81) I would like a break of the 0.236 Fib retracement ti get going but could be fushing here on any hold of the 9D curling up.
#TRADEIDEA : Longer timeframe on this onw with Jan 2022 leaps 25c around 7.5 and could ride them to 40 so that would be s great mover.
$HD out of the long bull flag from october 2020. Already backtested it and ready to move up ! Need a break of 282.40 level to confirm the move on a longer time frame. Look how that name printed higher lows all the way to the bullflag break out. Target is 292 then 300 mental resistance
$BHE Also keep an eye on this weekly Cup and Handle break out ~ Beautiful ! inside week and inaide day about to move 28.46 then 30 comes.
$NVDA been roaring for days and could be setting for another push above 611
#tradeidea : 630wc lottoaround 0.9 if lucky above 611. Could see 4-5
$DIS nice beat yesterday and trading 193 premarket went to 196 AH.
#tradeidea Could retrace that price today if we hold 190.65 on a dip. Would load some 200 next week calls there.
$LULU about to explode to 360 on everytime frame. Watch today's 350c if we hold 100SMA on daily at open (344.50)
#TRADEIDEA : 350c exp today above 345 at open for a quick push to 350 then scale out.
$ESS been ripping over 262 level now going to 276 on a very nice gap fill on 4H TF. RSI at 73 on daily ans 76 on 4H. So move needs to happen quick. A drop to 262-264 would be a gift to reset the RSI and back test the previous resistance than would become support.
#TRADEIDEA : BTO $ESS 270c 03/19 @ 6 for a possible move to 272 ans sell them around 12
$TLRY been pumped byt WSB - daily huge red hangning man on daily that screams sell. But today pre market stock stits at 73 while I type this. next big resistance at 73.81 that is 0.236 fib retrace on weekly chart from ATH L to ATH H. so a move above this take us to a price resistance of 102 then next fib at 116.
#TRADEIDEAConsidering some weekly lotto 100c (for now the biggest strike available) @ 2.5-4 (depending of IV pop) for a quick move ITM to 10. Can also buy time on this one as WEEKLY chows some strenght above 74 and go long ATM 75c 03/19 with a trailing stop.
$ZM nice comeback from low 400 and yesterday seen a huge come back too from the market selloff showing buyers are there. A breakout of 428 was a sign. reclaimed it into close ! also seeing a blue raindrop on this one that usually means big compressing move that leads to expansion. I see 432 as another resistance 20SMA on weekly. Then 440 comes (high of yesterday and huge past price resistance). Above this 462. I'm still in 430/450 03/19 debit call spread looking to close the 450 leg and let the long play materialize on a break above 432.
#TRADEIDEA liking the OI on next week 02/19 460c and could have them @ 6 for a run to 15. Wait for 432 to break then scale out at 440. Let some freebies run towards 462 level. Then call your wife and take her to restaurant.
$ACB pot stock on fire and this one could emerge from very low. Already up 100% in last days, still room to go ! Next resistances are 20, then 26, then 35, then free way to 48. Aboe that blue sky. Big volume been hitting this one.
$NIO added an alert on the possible pullback here to backtest the daily bullflag that fits with the 21SMA on daily @ 59. Then its a loading aread for a possible move to 75. Looking at 65c 03/19 for 7-8$ (now 8.2) could turn into 17-20) Stop would hit around 5 or if we cant consolidate around 58-59 level.
$ZM cleared the neck at 410 of this IH&S and also cleared 428 yesterday, as the chart show we have a path to 480. Not today but could be a nice swing. Opened some debit call spread 03/19 430/450 to benefit of the bullish pattern on it. Would also play little lotto into friday on those 440 on any dip to 410
$JNJ again if 166 holds gap fill to 167.50. Would like to buy 167.50 weeklies around 0.6 for a move ITM to 2 or next week calls could work also @ 1.5 for a move to 3
$DIS 190.64 triggers another run to 200 + Big momentum from ER, could see a major push. Look at the Doji inside candle from yesterday. Aiming next week 195c on a breakout around 4.5 for a move to 7-8
$MCD a break above 217 takes us to 221 then 223 need to hold the 216 level - Considering 220c 02/19 at 1.4 for a possible move to 3+