Traders,
While I continue to have the most success with intraday move2move and momentum trading, which accounts for my consistency lately, I am beginning to see early signs of a shifting environment that might again favor swing trading. So, I’ll include a mix of intraday and swing setups in this week’s watchlist.
Starting off with a couple of swing ideas.
(NASDAQ: AMZN) Whether or not we get follow-through in several swing ideas will depend on the market’s ability to maintain its footing after Friday’s impressive close. AMZN presents a favorable R: R setup as the stock consolidated above prior resistance between its 50 and 5-day SMA. I’m looking for a breakout above its 5-day SMA for entry, with a LOD stop, targeting a move toward resistance 1 and its 20-day SMA to cover half and trail the rest versus the day’s low.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
(NASDAQ: RR) A small-cap robotics company that, despite SERV’s crash on Friday, maintained its bullish formation on a higher timeframe, which I like. As a result, I’ll be monitoring this closely going forward. One thing to be aware of is potential dilution. I’d need to see a firm breakout in price and volume over $3 to get excited and have a position versus the day’s low. Below $2.5 the idea is no longer valid and not worth watching.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
(NASDAQ: GRAB) Earnings end of next week. The stock has an impressive setup on the daily, and on a higher timeframe. It broke out of a significant base and found support above prior resistance. I like the overall look. It’s on watch for two primary scenarios. First is a breakout ahead of earnings over $5 on volume, which I’d look to swing long with a LOD stop. I would fully exit before earnings. Second, is a breakout following earnings, in which case, I would look for a gap, give, and go setup or hold of key extended hour levels to initiate a long swing following earnings for continuation.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
(NYSE: SNOW) and (NASDAQ: RKLB), Which have earnings later in the month, are shaping up similarly on a higher timeframe, and I’ll be keeping that on the watch for a similar opportunity as well.
Lastly, as it relates to swing ideas, AFRM worked perfectly from last week’s watchlist and continues to follow through with Friday’s secondary breakout. So, I’ll continue to look for powerful earnings gap continuation swing opportunities, like DOCS and HOOD, which are potentially setting up now.
Alright, here are a couple of small-cap intraday opportunities:
(NASDAQ: MGOL) incredible trader last week, and fantastic sell-the-news opportunity on Friday. After Friday’s move and a ton of overhead and bags that now exist, I’d love a push / dead cat bounce short opportunity into $0.70s – $0.80s for one last trade in the stock. After a number of solid trades in it last week, I’m not looking to overstay or keep coming back to the well. But if it pops on Tuesday or Wednesday, whilst there is still some interest in the name, i would be interested in a short into major resistance zones.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
(NASDAQ: AIFF) Finally broke the uptrend and sold off on Friday. Going forward, I’d have some alerts set for $11 – $13 in case it pops up in an unsustainable manner. If that happens, I would look for a reactive intraday short opportunity, not a swing.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
(NASDAQ: MBRX) If there are no additional offerings, then I will be stalking this for a potential liquidity trap and squeeze higher above Friday’s high.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.