Last week I saw more strength in several names from my watchlist with shows me the market is looking a little better for my strategy. Also more setups are following through carefully which might be a sign that the coming weeks can offer some nice trades.
Being cautious is still my advice. Personally I keep my stops a little shorter than I normal would. And I protect smaller gains faster by raising my stop to at least break even.
From last weeks watchlist there were some nice entry possibilities so I hope you learned to recognize them in time.
Personally I’m currently in ELY, RBLX, CRCT and BGFV.
For ELY and RBLX I added to my inititial positions after having some good gains (+15% for ELY and +25% for RBLX). By adding to an initial position that is showing a good gain, and more importantly a good next entry point, you can increase your position without increasing the risk on your account.
Let me know if you would like to learn more about how I do that and I’ll write a post about it.
CRCT I entered on the 20th of May and is now also showing around 25%. Doesn’t look like it is going to create a new entry point soon though. So I raised my stops to protect the profit and let it ride.
BGFV is a new position from my watchlist last week.
Keep in mind that Monday the 31st of May is Memorial Day so the US market is closed. Enjoy a long weekend, and a smaller trading week.
Depends what you enjoy doing most whether that’s a good thing off-course.
Watch AMAT for a big volume move through $138.67, with a sell stop at it’s 50MA. New possible entry if you missed the $134.10 pivot earlier.
Watch DFH for a big volume move through $31.98, with a sell stop at it’s 10EMA.
Watch DKS for a big volume move through $99.90, or wait for the $100.00 round number to break. With a thight stop at $96.35.
Watch DV for a big volume move through $38.28, with a sell stop at it’s 10EMA.
Watch HONE for a big volume move through $15.14, with a sell stop at it’s 50MA
Watch MGY for a big volume move through $13.35, with a stop loss at the 20EMA.
Watch OVV for a strong move through $27.53, with a sell stop at it’s 50MA.
Watch RCII for a big volume move through $138.67, with a sell stop at it’s 50MA. Possible more aggressive entry point at $62.14.