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“I think to be in the upper echelon of successful traders requires an innate skill, a gift. It’s just like being a great violinist. But to be a competent trader and make money is a skill you can learn.”-MICHAEL MARCUS
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The Nasdaq reached all-time intraday and closing highs as it ended the session up 1.1% at just under 16,275. The fact that it finally topped its November 2021 high of 16,212 is an encouraging sign. It has now gained in 16 of the past 18 weeks and sits clear of all its key moving averages (10 and 21 MA). The tech-heavy index is now up more than 8% this year.
The volume increased as it was moving into new hoigh ground which is a good indicators that investors are buying shares nd have comfidence with the market.
It was also a good day for the S&P 500. The index rose 0.8% and closed above the 5,100 mark for the first time. It is more than 5% above its 50-day moving average and nearly 14% above the 200-day line. The benchmark index holds a gain of nearly 8% in 2024.
i expect more upside move as the index retested its support with breaking below it which is the sign that the market is still have strong to the upside .
HERE ARE LIST OF STOCKS WHICH I HAVE BOUGHT OR I’M LOOKING TO BUY ONTO THIS WEEK. |
MY STOCK PERFORMANCE RATING IS A+,A,B AND C WITH A+- BEING THE TOP AND C-BEING NORMAL. |
I HAVE MORE THAN ONE TRADING ACCOUNT SO WHEN I’M SAYING I HAVE A POSITION THIS MEANS IN ONE OF MY TRADING ACCOUNT. |
MOVING AVERAGES USED |
REDLINE = 50 DAY MOVING AVERAGE |
GREENLINE = 10 DAY MOVING AVERAGE |
PINKLINE = 21 DAY MOVING AVERAGE |
RATING: B I do have position on this bought after gap-up,the company have good fundamentals and technical actions.the stock is currently extended from the buying point.
RATING: A The best company in terms of fundamentals and technical actions.I have aposition and will add if it will break above the pennant/wedge .massive volume on the right side of the chart,worth paying attention to.
RATING: B The stock is trying to emerge from the cup with handle ,its currently trading at the buying zone .will look into buying this stock tommorow morning .
RATING: A I do have aposition on this stock bought after gap up,the company has good earnings and sales ,plus volume spikes at the bottom of the chart which means investors are scooping shares.
RATING:A I have a position on this too,,it had huge volume after ER on Thursday,triple digit earnings and sales which are far way better than its competitors,will more shares if we can get tight areas or pullback to the key moving averages.
RATING:A The company is currently trading slightly above the buying zone,,its fundamentals is recently started to improve due to crypto bull run .will buy if it will toiuch pivot point.
RATING: B Most of the biotech companies move upside regardless of the currently fundamentals ,this one is one of them,but its currently trading above the pivot point.we need tightness to get an entry.
RATING:A I have a position on this bought after gap up ,I love its current improvement in earnings and sales,triple digits in both earnings and sales.you can start a position because its now trading at pivot point .
RATING:A I suggested in my previous newsletter to buy it above the drawn horizontal red line.its currently approaching pivont point where you can add or start a new position.pay attention to it.
RATING:A I do have a position on this and its still trading at buying range ,the company has good fundamentals and technical actions.think about start a position on this one too.
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NB;ALL GRAPH/CHART IS FROM MARKETSURGE“I think to be in the upper echelon of successful traders requires an innate skill, a gift. It’s just like being a great violinist. But to be a competent trader and make money is a skill you can learn.” APP WHICH IS IBD TRADEMARK. You can join here : https://t.ly/UxNt0 |
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