The Weekly Trade Plan: Top Stock Ideas & In-Depth Execution Strategy – Week of December 18, 2023 | SMB Training

Happy Sunday, Traders!

I’m excited to share a number of new concepts with you right this moment, all of which may have important directional strikes.

But earlier than we get into these thrilling new concepts, I needed to share a commerce I took final week with you as a result of there may be a lot to study from it.

You’ll keep in mind that a protracted breakout in Tesla was certainly one of my concepts last week and is definitely on my checklist once more this week. While that concept gained momentum over the last two days of the week, and I made cash on the lengthy, I additionally went brief the inventory on Wednesday and profited.

Here’s the lesson I needed to share with you: As I mentioned last week, the lengthy thought was crowded, making me hesitate for a protracted figuring out seamlessly. However, I saved it on my checklist as a result of I appreciated it from a technical viewpoint.

But, by remaining open-minded and versatile, I may use the data gathered from the breakout thought, particularly, the concept not triggering and trapping keen/early longs, key ranges, potential cease zones, and areas of fast intraday influxes of provide to go brief for a momentum scalp.

Here’s the commerce:

,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 elements similar to liquidity, slippage and commissions.

So, I had a plan for a very long time in Tesla; nonetheless, it didn’t set off. Therefore, I didn’t go lengthy. Instead, I went brief once I acknowledged longs who didn’t look forward to affirmation had been caught, and help was about to giveaway, offering a wonderful alternative for a momentum brief.

The following day, I did the same commerce to the lengthy facet in Tesla, which is now arrange even higher than the prior week for a swing lengthy.

So, onto the recent concepts for the week.

My Main Swing Idea: Momentum Long in Tesla

After a fast transfer decrease, under essential help, operating stops, and shaking the tree, Tesla has now reclaimed key transferring averages and held above the consolidation’s resistance.

The Weekly Trade Plan: Top Stock Ideas & In-Depth Execution Strategy – Week of December 18, 2023 | SMB Training

,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 elements similar to liquidity, slippage and commissions.

So, from a failed transfer decrease comes a quick transfer larger? Let’s see…

I plan to search for dips, larger lows, and regular help above $250 for a protracted entry, with a cease positioned under Friday’s low. I’m concentrating on a transfer towards $260 to take danger off and lock in earnings, after which discretionarily leaving on a 3rd for a lofty goal of $270 whereas trailing my cease utilizing an hourly timeframe and better lows.

Backburner Ideas: Alerts Set for Potential Directional Moves

The Weekly Trade Plan: Top Stock Ideas & In-Depth Execution Strategy – Week of December 18, 2023 | SMB Training

,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 elements similar to liquidity, slippage and commissions.

UPST put in a powerful inside day on Friday, doubtlessly organising for a breakout. Alerts are set for a breakout above Friday’s excessive and potential continuation towards $50.

The Weekly Trade Plan: Top Stock Ideas & In-Depth Execution Strategy – Week of December 18, 2023 | SMB Training

,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 elements similar to liquidity, slippage and commissions.

CCCC noticed an distinctive quantity and value surge final week on the doubtless basically altering information. However, In the short-term, it seems to be on the bottom, and due to this fact, alerts are set for pops again into potential provide/failure ranges, similar to $5.50 – $6, to eye for failure and an intraday short-swing setup.

Lastly, MSS and GDHG had been the newest pumps to be liquidated. Both had been nice alternatives final week. They are dropping like flies recently. Therefore, I’ve quantity and value alerts set for a few of the final ones standing: EJH and ZJYL.

Important Disclosures

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