Merchants,
It is rather related motion to the earlier week. I’d sound like a damaged report, but it surely stays an opportunistic surroundings for move2move / momentum buying and selling, particularly with day 1 in-play names and breaking information / headline-driven alternatives.
So, as outlined in earlier weeks, that’s predominantly the place my focus stays till the market shifts gears.
So, whereas my focus is totally on contemporary names in play on an intraday foundation, listed below are just a few concepts that I’m coming into the week with:
(NYSE: BBAI) Unbelievable mover final week, with two notable lengthy alternatives that a number of on the desk capitalized on: the breakout on Wednesday and follow-through on Friday. Going ahead, nonetheless, and contemplating each the mechanics of how the inventory trades and what drives it, together with its fundamentals regarding dilution, I’m extra centered on a possible quick setup.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
As you’ll know, based mostly on the factors shared earlier than, this doesn’t but qualify for an A+ reversion alternative. Nonetheless, if, and it’s an enormous if, at this stage, the inventory can lengthen over $10 on continued quantity and vary enlargement, it will enter potential A+ reversion opp. I’m enthusiastic about that, though it stays unlikely at this stage. Alternatively, for a lesser alternative, extra alongside the strains of a B+ commerce, I’ll have it on my radar for a FRD setup or failed follow-through on a gap-up on Monday.
(NASDAQ: AFRM) Glorious outcomes reported final week, and follow-through on the numbers taking the inventory to new 52-week highs and a breakout throughout a number of increased timeframes. Fairly easy setup right here in AFRM going ahead that might warrant motion.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
I’d wish to see this grow to be a possible earnings continuation swing. For that, I would wish to see relative energy proceed, together with earlier resistance flip into assist close to $73.50s, and the multi-day VWAP anchored from earnings maintain up. If that each one conforms, I’ll look to get lengthy on a better low OR pullback into multi-day VWAP and assist OR a 2 or 3-day breakout after an inside day or two, for instance, just like PLTR from final week. Like PLTR, I’d be focusing on ATR extensions above vwap to take income and path my cease utilizing increased lows on the 5-minute timeframe.
(NASDAQ: MGOL) Dilutive small-cap inventory with a historical past of pump and dump motion. Unbelievable reclaim on Friday on the finish of the day and squeeze out into the shut and AHs. These have been merely cussed shorts that had sized up aggressively for an all-day fade and have been getting squeezed out. Now, sadly, the inventory gave that squeeze again into the 8 pm shut, however I’m hoping for a gap-up on Monday morning. A niche up into $0.50 – $0.60 + would arrange the potential for an A chance in my books. Whereas I’d scale on the quick aspect, I’ll be in search of a transparent rejection above or beneath $0.55 and decrease excessive to quick aggressively towards, with a HOD cease, prepared to swing quick for a transfer again towards $0.20. Once more, ideally, this continues increased. The upper, the higher for the eventual fade again to actuality.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
And lastly, I’ll be protecting a detailed eye on nuclear names, particularly OKLO.
(NASDAQ: OKLO) Nothing I’m taking a look at performing on now, neither lengthy nor quick. Too prolonged for me to provoke any new longs and never but prolonged sufficient to go quick. Nonetheless, given the elevated quick curiosity, quantity, and vary enlargement on Friday, It’s now on aspect look ahead to a possible imply reversion alternative this week. Why? I’ve seen the quantity and vary have begun to broaden, extensions for a number of key SMAs at the moment are checked, and all I want now could be for the hole standards to be met, together with continued vol and vary enlargement. If that occurs, it could possibly be an A+ reversion alternative.
*Please notice that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market elements corresponding to liquidity, slippage and commissions.
So, as you’ll be able to inform, it’s a distinct tape and surroundings proper now. Quite a lot of potential eventualities and fewer on look ahead to the upcoming week. Once more, for me, consistency and success is coming from momentum buying and selling. Particularly, I’m in the best shares, figuring out in-play names on an intraday degree, with setups and alternatives that align with my playbooks.
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