*disclaimer: Not financial advise. This is my personal trade plan only. I am not qualified to advise anyone on their specific positions or trades, I am giving my personal opinions only. Always consult a professional for investment related advice and do your due diligence*
Happy Sunday everyone! I’m excited to be back to work. There’s a few interesting setups for the week. I expect a bit more upside across the board. From there I will be looking for a rotation out of big tech and into the names that have lagged throughout this melt up. Best of luck to everyone this week!
$ES_F
2H Chart(View Full Image)
I expect this melt-up to continue just a bit longer to complete wave iii of (iii). I want to take advantage of some long opportunities early this week. Big tech has been on fire the last two weeks while smaller names get crushed. With big tech overbought and small growth oversold, I expect a rotation to occur providing us some great opportunities. Below are the top setups I’m watching for this week, enjoy!
$NIO Long Setup
1H Chart (View Full Image)
ENTRY: $35.00 | TARGET: $39.00 | SL: $34.00
$NIO appears to be forming nested 1,2s here. I will be looking to take either 4/23 or 4/30 calls on $NIO this week upon a drop into the $34.50-$35.30 range to complete wave (2).
$BA Long Setup
2H Chart (View Full Image)
ENTRY: $242 | Target: $287 | SL: $231
$BA is working on wave c of (2) and appears almost ready for the next leg up. I will be looking to add 6/18 calls once the gap is filled at $245.
$HYFM Long Setup
2H Chart (View Full Image)
ENTRY: $58 | TARGET: $84 | SL: $55
I will be looking for a slight dip early in the week to enter 5/21 calls. Ideal entry for me is $57-$58; but if a break above $62 occurs first, I will enter there.
$AMD Long Setup
4H Chart (View Full Image)
ENTRY: $81 | Target: $93 | SL: $78
$AMD looks ready for an explosive move up. I will be watching for a bounce off the .618 at $80.23 to enter 6/18 calls.
$RIOT Long Setup
1H Chart (View Full Image)
ENTRY: $48.25 | TARGET: $55 | SL: $44
$RIOT has formed a symmetrical triangle with the classic wave E under throw… I will be looking for a bounce here, but with the crypto selloff this weekend I want to wait for for the break of $48.25 before entry. If/when the breakout occurs $55 can trade quickly.
$UPST Long Setup
2H (View Full Chart)
Lastly, I will be watching $UPST for a long entry. I expect wave (5) of (c) of iv to complete around $97-$100, and will be looking for a reaction out of this zone. I will likely take 6/18 calls.