How to Trade Flag Breakouts | Stock Trading
Join Hydra as he goes over the flag breakout setup. This one is a classic and a must know!
$NVDA $SPY $TSLA $QQQ $AAPL $META $AMZN $AMD
$ASTS very bullish, this one got a lot of momentum behind it right now, very strong volume breakout as well. Looks good to me. Bullish. Has potential to explode here.
$CORZ had a very strong breakout move today. Up 40%, this one should be on everyone's radar now. Huge volume breakout, potential accumulation happening here. Just now starting to pull back to 10 day
$TNXP active on news earlier today
Tonix Pharmaceuticals Entered Agreement With Defense Threat Reduction Agency For $34M To Develop Broad-Spectrum Antiviral, TNX-4200, Through Phase 1 Clinical Evaluation
$SMCI strong consolidation bar today after breaking out yesterday. Trying to make a realbreakout move. I like the volume on it yesterday, bullish sign. Currently putting in a inside bar for a nice play on Monday if it triggers.
$AMZN looks incredibly bullish to me here, just grinding higher. Looks like just consolidating now. bullish. Could be a good BTD play iff 20 MA. If it loses 20 MA, then it can see more of a correction
I'm waiting for breakout/breakdown out of this before I do anything, I have an alert set at the downtrend line for breakout. Maybe I should set one at the uptrend line too, $DELL
$ASTI on huge watch tomorrow. Reverse split is imminent in the future. Look at all those buys tonight in AH. This could be the huge explosion before the RS announcement. 100% speculative play but Iโm taking a decent sized position in the morning and letting it ride. ASTI
$QCOM also pulling back in, looks bearish (short term), very bullish longterm. A lot of selling in the semi's last 2 days like MU $AVGO $NVDA etc. I am currently short term bearish, don't like recent price action.
$BABA $BIDU JD KWEB HSI
Folks, I've been waiting for this drop. I believe this is the bottom. If not, I'm done with China for good
61.8% golden pocket OTE
Daily backtest
Daily trendline
We have a triple confluence. I call this a full stack. High conviction swing idea.
$HOOD still looks good here to me, slow grind down but consolidating well, healthy pullback. This is now forming a pretty nice flag setup and looks great. Bullish
$MARA looks very very bullish here. Another very strong breakout name. Key resistance is at that $28 level, if it can break that, this one is going a lot higher. Bullish.
$BTC
Can hit 63,847 then pullback.
This is forming an IH&S on the daily.
If so, this will be bullish continuation pattern needed for 68K or possibly 70K
$NVDA (but it's probably all random, nothing to see here) Taking a fib retracement off the liquidity print shows us a full fibset to the upside, targets are circled in essentially 25% increments all the way to the 2.618 which is 133.81
$CORZ had a very strong breakout move today. Up 40%, this one should be on everyone's radar now. Huge volume breakout, potential accumulation happening here. Just now starting to pull back, looks bullish
Q: So for COIN, if it's chopping between 220 and 265, wouldn't this be a good entry for calls? It's around the very bottom of an important support.
A: Yes good r/r here if you want to dip buy, I prefer to buy on breakouts or strength $COIN
$MU shaping u bearish here, this is now losing the 50 MA. This can get ugly quickly, so I wouldn't try to BTD too early. Semi's all in general look like are in pull back mode.
$CHWY looks like it lost its momentum here, this one can end up dipping hard. Very strong volume to the downside today tells me that there are a lot of sellers in this one. Cautious on it
$MU shaping up well here, holding the 50 day and looks like it is trying to bounce off it here. Overall very strong name and I am bullish on it. Key resistance at 140 level.
$AVGO - Right now there is no clear support level until 1420 lol, so don't have a good answer for you yet. Need to see it consolidate more first and form a base to fins good dip buy area. Right now I wouldn't dip buy.
$TSLA got a very strong breakout last 2 days, showed huge relative strength. Think this one has a lot more potential right now though, but extended at the moment.
$AVGO also pulling back in today, looks bearish (short term), very bullish longterm. Seems like a lot of selling in the semi's today like $NVDA $MU $ARM etc. I am currently short term bearish, don't like todays candle.
Top 3 Trade Ideas:
$NKE, already in Sept (Calls), KDJ starting to cross up, very oversold RSI & big gap above, look for longer dated stuff.
$NIO, breaking out shorter term channel, will need key break over 1D 50sma (Calls).
Well look at $NVDA. It's completed a 100% equal move from it's Wednesday afterhours liquidity print. Notice the overshoot in that afterhours session? It's 16 cents. Wanna see something spooky? There's exactly 16 cents of overshoot below the low of the liquidity print.
$COST offered a pretty nice a while ago, but since then it has just been trending up very nicely. This is one of the big advantages of trading big liquid names, they trade very smoothly. COST is a great example of this. It offered two easy setups (pink arrows).
$TSLA got a very strong breakout last 2 days, showed huge relative strength. Think this one has a lot more potential right now though, could see 240 easily in my opinion, but extended right now
Its very interesting that $NVDA going 10 times higher in 2 years in news all over but $META going 5 times higher in 2 years is not talked enough . They did not even have any big $AI mumbo jumbo bandwagon to go along
$HOOD still looks good here to me, slow grind down but consolidating well, healthy pullback. This is now forming a pretty nice flag setup and looks great. Bullish
$MU the current level is not too bad for a fresh entry but albeit a bit risky level, I would have loved to enter around 130 to 133 level for conservative play. My targets would be 150 round level and then new high based on Fib levels if it pushes higher
I liquidated my $NVDA shares at 137.7 this morning. Kept some of my call butterfly spreads and rolled out a couple to further dated diagonal spreads so right now its pinned right in there, need it a little higher to hit my sweet spot.
My primary concern for NVDA is the $OPEX
$CELH looks pretty weak to me here right now, currently no setup as it lost its base. Key resistance level is currently at that $60 level. Until then bearish on it
$AMZN still looks good here, looks like it wants new 52 week highs here. Bullish action. Key resistance will be around 190 level. Looks good on weekly as well, slow grind up.
SWINGS UPDATE
OPTIONS:
ARKK TLT TSLA DIA PYPL $META ETSY DJT NKE
SHARES:
$PYPL TLT $NKE
These are all to the long side & hold time is 1-3 months with a max of 6 months.
I'll take 8 for 12 but won't be mad if we hit all 12, TBH
2.) CORE PCE is next Friday & I expect the inflation moderation trend to continue before the FOMC meeting.
3.) $TSM $NFLX ER coming up & I expect them to do well, but we will just have to see.
$PANW. Building a nice base here, waiting for a decision. Retest and hold of 329 and Iโll enter calls, with a tight SL under. If not, Iโll wait for a confirmed close above 345.9 to enter positions. One to watch for the rest of this week.
$SPY - break down below support at 556.34, bearish towards 554.47, possibly 550.28. Rejection of a gap up at or near 560.89 or 561.90 may reverse bearish. SPY would need to break above 562 to consider a bullish break out.
$AUR looks pretty decent to me here. Had a very strong rally and made a strong breakout move, but now it needs to go sideways and consolidate so it can form a flag setup for next leg up.
$JMIA ORB Setup
JMIA offered a really nice opportunity this week. This was a great long candidate as it had a huge gap up, and then you could have bought this one on the 5 min ORB. So when the first 5 min candle high gets taken out, would have been the entry.
$DJT support has been established at 36, good bounce this AM to high of 39.20, current consolidation @ 37.35 in a Bull Flag pattern. Watching for retest of 39 or breakdown under 37
$INTC still looks really week compared to all the other semi's. It did get a nice bounce last week but now its losing all it gains. You want to focus in on the leaders like $NVDA etc. This is def an avoid, key resistance at 36