Dear traders
I look forward to sharing my top swing trading ideas for the coming week. After Wednesday’s Fed interest rate decision, the market went through an 8-day consolidation and rest period to choose a direction, and my top ideas from last week worked very well, with the semi-sector breaking out and very much on the line.
I am focused on new breakouts and momentum trades as the market continues to soar to new heights. I’m being cautious here, but things are starting to get overbought and a little frothy. But until it stops working, my focus remains on the long term and within the setup that has been working for the past few months.
So let’s get straight to the point. This week, I’m sharing my top ideas and trading plans for stocks that have the potential to move in a big way.
Integration breakout on NTNX
This is a textbook consolidation pattern in stocks that have been on a steady upward trend for quite some time. This stock has a history of stable and sustainable breakouts and continuations, so my time frame here is up to a full week, including a trailing stop, as I look to see if history repeats itself. .
*Please note that prices and other statistics on this page are hypothetical and do not reflect the impact of specific market factors such as liquidity, slippage, fees, etc.
Here’s the plan:
From daily charts to hourly charts, time frames and important levels match, and that’s what we’re looking for with this setup.
$65 is confirmation of a breakout and I would like to see the stock break above it and hold above with authority. Once that is confirmed, I will go long with a stop below that day’s low or the most recent 15-minute low. We will manage our positions on a 15 minute basis.
The high goal is to reach $70. However, we plan to scale out the position as the stock price increases ATR. Therefore, we will cover half of our position towards $67.50 and scale out the rest as the stock makes a significant new high in the trading window. Final exit will be $70.
Integration breakout in ARM
Again, great integration with a much reduced range. While all the talk has been about the lockup expiring and the bias has largely shifted in favor of the bears, the stock price has been strong and continues to do well. I am unbiased and only want to react to price trends here.
*Please note that prices and other statistics on this page are hypothetical and do not reflect the impact of specific market factors such as liquidity, slippage, fees, etc.
Here’s the plan:
Once again, the key area of $138-$140 across multiple time frames shines as resistance. Therefore, if the stock gains authority and breaks above this zone with volume and significant support, I would consider going long.
Specifically, I would like to go long once I see that the stock is trending up during the day and is firmly above its intraday vwap. I reduce size and enter long, believing it to be a wide stop near the low of the day (that’s where I’m wrong). Therefore, it is small in size and has wide stops so that you can execute your ideas without too much control.
My first target area is a move from $145 to $150, which could cause some problems for the stock. We intend to cover up to half of the position there, thereby securing profits and removing risk. My stop is scheduled to rise to a higher low using a 15 minute time frame. The final target is a movement from $160 to $164, but I will manually scale out when the stock makes a new high on a 15-minute time frame, and manually stop out at my discretion if the price trend changes. intend to do something.
Two additional backburner ideas:
YTEN: Target a push back into the 0.55-0.65 supply zone for intraday failure and a short opportunity to push it back into the 0.30s.
Back: I’m keeping a close eye on whether the stock pushes back above the $3 resistance area from Friday, an intraday failure and a short to the day’s high, and a return to the low $2 range.
important disclosure