Merchants,
It is rather comparable motion to the earlier week. I’d sound like a damaged report, nevertheless it stays an opportunistic setting 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 recent names in play on an intraday foundation, listed here are a couple of concepts that I’m coming into the week with:
(NYSE: BBAI) Implausible 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 word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
As you’ll know, based mostly on the standards shared earlier than, this doesn’t but qualify for an A+ reversion alternative. Nonetheless, if, and it’s a giant if, at this stage, the inventory can lengthen over $10 on continued quantity and vary growth, it could 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 traces 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) Wonderful 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 greater timeframes. Fairly easy setup right here in AFRM going ahead that might warrant motion.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
I’d prefer to see this turn into a possible earnings continuation swing. For that, I would wish to see relative power proceed, together with earlier resistance flip into help 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 the next low OR pullback into multi-day VWAP and help OR a 2 or 3-day breakout after an inside day or two, for instance, much like PLTR from final week. Like PLTR, I’d be concentrating on ATR extensions above vwap to take earnings and path my cease utilizing greater lows on the 5-minute timeframe.
(NASDAQ: MGOL) Dilutive small-cap inventory with a historical past of pump and dump motion. Implausible 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 on the lookout for 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 greater. The upper, the higher for the eventual fade again to actuality.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
And lastly, I’ll be conserving an in depth eye on nuclear names, particularly OKLO.
(NASDAQ: OKLO) Nothing I’m appearing 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 growth 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 develop, extensions for a number of key SMAs are actually checked, and all I would like now’s for the hole standards to be met, together with continued vol and vary growth. If that occurs, it might be an A+ reversion alternative.
*Please word that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.
So, as you’ll be able to inform, it’s a unique tape and setting proper now. Lots of potential situations 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 correct shares, figuring out in-play names on an intraday stage, with setups and alternatives that align with my playbooks.
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