The Weekly Trade Plan: Top Stock Ideas & In-Depth Execution Strategy – Week of January 8, 2024 | SMB Training

Happy Sunday, Traders!

I’m excited to current three recent concepts at the moment, and two particular sorts of swing buying and selling methods. These concepts maintain substantial potential for vital directional strikes this week. Rest assured, as at all times, I’ll present my exact and actionable commerce plans, outlining my entry and exit methods.

But proper earlier than I do this, a fast facet notice:

You’ll discover that my concepts shared at the moment cowl each the lengthy and quick facet and a large-cap and small-cap / low float. This is not a fluke. It is by design. When I began, I targeted on the place I first had an edge – shorting small caps intraday. As I grew extra constant and worthwhile, I leveraged these expertise to develop and develop my playbook and sources of edge.

Today that features intraday buying and selling, each lengthy and quick, together with swing buying and selling. But keep in mind, all of it begins with mastering one setup and technique, with the proper basis, after which slowly constructing on prime of that to create a sustainable profession versus being a one-trick pony.

Now to the concepts!

The first concept and technique is a Consolidation Breakout in Nvidia (NVDA)

If you recall the setup I shared in AFRM with you again in November of final 12 months, it bears similarities from a technical evaluation perspective. The identical goes for the setup I shared in CELH and DKNG, to call a pair extra.

You have rising key shifting averages and a inventory buying and selling in a decent vary, with upward momentum, close to a important breakout and inflection degree. What I like most about this setup is the outlined danger reward it presents me. While every inventory’s technicals differ, they’re related from a charting and psychological perspective.

,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 components equivalent to liquidity, slippage and commissions.

My plan for NVDA is simple. It has displayed spectacular relative power vs. the general market on week 1. If the market catches a bid, NVDA would possibly enhance its relative power and probably blow previous $500.

I’m trying to get lengthy close to $500 if the inventory confirms a breakout over this important degree by way of endurance and quantity. Once I see affirmation, I’ll initially enter lengthy with a cease on the day’s low. Given the size of the consolidation, I shall be on the lookout for multi-day momentum. I plan to take off a good portion of the lengthy right into a 1 ATR up transfer, so between $510- $512, and path the remainder for as much as 3 days, utilizing the hourly chart and better lows.

The final two concepts are each day two quick performs, in small caps: AIMD and BNZA

Both shares traded irregular quantity and pale on Friday, leaving vital overhead resistance and potential provide. Therefore, I prefer to search for a pushback into doable failure ranges, the place provide would possibly enter the fray and overwhelm the tape, failing and an excellent danger: reward alternative to place quick.

Important to recollect: Always take note the float’s measurement, find availability, and the way that will affect the worth motion. Therefore, in the event that they pop and reclaim their multi-day VWAP, a brief entice and secondary squeeze would possibly happen, and consequently, it is important to attend for affirmation and never be too biased.

The Weekly Trade Plan: Top Stock Ideas & In-Depth Execution Strategy – Week of January 8, 2024 | SMB Training

,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 components equivalent to liquidity, slippage and commissions.

So, in BNZI, I’d be on the lookout for a push towards $2.80 – $3 and intraday failure to get quick for a one-day swing again towards mid to low $2s.

The Weekly Trade Plan: Top Stock Ideas & In-Depth Execution Strategy – Week of January 8, 2024 | SMB Training

,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 components equivalent to liquidity, slippage and commissions.

Similarly, in AIMD, I’d be on the lookout for the inventory to push towards the $3.5 space and stuff / fail to get quick intraday, focusing on a one-day swing quick for a transfer again towards the lows from Friday.

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