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TRUE MARKET LEADER
28/05/2024 analysis
“I hate stocks. Stocks are bad. There are no good stocks. Even the so-called best stocks are bad. Stocks are good only when they make you money.“-Brad Koteshwar |
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MOVING AVERAGE LINES USED REDLINE = 50 DAY MOVING AVERAGE GREENLINE = 10 DAY MOVING AVERAGE PINKLINE = 21 DAY MOVING AVERAG BLACK LINE = 200 DAY MOVING AVERAGE“If you personalize losses, you can’t trade.” |
NASDAQ INDEX; The nasdaq index made all time high lastweek and closed week with inside day on friday.we can expect a small pullback in the coming weeks.
most of leading stocks such as NVDA and FSLR are doing great .Let focus our buying on leading stocks emerging from consolidation.
chart courtesy: marketsurge NASDAQ DAILY
Chart courtesy: marketsurge NASDAQ WEEKLY
S&P500 INDEX: The S&P 500 index ended friday with a 0.7% gain but treaded water for the week. It is clear of its 50-day moving average and the shorter-term 21- moving average. While the benchmark index now lags the Nasdaq, it is still up more than 11% for the year.
We can also expect some pullback the next comming weeks.
Chart courtesy: marketsurge S&P500 DAILY
Chart courtesy: marketsurge S&P500 WEEKLY
CAVA: This stock is currently one of the true market leader that is to say it has great fundamentals (Earnings and sales ) and technical action. I have a position on this bot when it crossed above the redline.
The stock has strong Relative strenth and Blue volume skyscrapers which is a sign of big institutions accumulation.
Chart courtesy: marketsurge CAVA DAILY
Chart courtesy: marketsurge CAVA WEEKLY
CELH: This stock has formed a cup without a handle with buying point around $100 .The company has best fundamentals and technical action around base area hwere the volume drying when the stock was making a pullback.
Will wait when it will cross the pivot point (buying point).
Chart courtesy: marketsurge CELH DAILY
Chart courtesy: marketsurge CELH WEEKLY
CRWD: I bought the stock when it formed the wedge which i shared on previuos newsletter ,this is leader on company in terms of performnce in cybersecurity industry group.
Will add to my position when it will cross above $365 buying point .
Chart courtesy: marketsurge CRWD DAILY
Chart courtesy: marketsurge CRWD WEEKLY
DECK: The stock is one of the best performing stock currently ,it has now made three gaps- up on volume which is a sign that big institutions are scouping up shares of the company.
I dont have any position on this will look for the pullback so thst i can get an entry.
Chart courtesy: marketsurge DECK DAILY
Chart courtesy: marketsurge DECK WEEKLY
ELF: This stock had nice day on Thursday and friday lastweek when it moved above all moving averages (10,21 and 50 day moving average) on volume.
Will buy when it will breakout the pivotal point (around $222) on volume.
Chart courtesy: marketsurge ELF DAILY
Chart courtesy: marketsurge ELF WEEKLY
FSLR: I do have a position this stock bought at the pivot point (blue zone).the company has triple digit earnings and sales plus Blue vome skyscrapers which is a sign of accumulation.
Chart courtesy: marketsurge FSLR DAILY
Chart courtesy: marketsurge FSLR WEEKLY
HOOD: With its free tradig platform ,the company has received alot of custumers from other brokerage company withits 1% welcome bonus for every custumer who transfer their assets from another brokers to Robinhood.
The company has best future earning expectations this .its likely that this perform better this current year and next year.will buy when it will move above the pivot point.
Chart courtesy: marketsurge HOOD DAILY
Chart courtesy: marketsurge HOOD WEEKLY
MNDY: This stock has recently started doing great after trading below 50-day moving for a long time ,it has finally moved above all moving averages and its currently sitting at the pivot point.
Will look to satrt a position this week around pivotal point.
Chart courtesy: marketsurge MNDY DAILY
Chart courtesy: marketsurge MNDY WEEKLY
NVDA: This one is one of the true market leader currently it has been outperfoming the indices for quit a long time since the end of the last year.
I do have a position on this bought after gap up on Thursday.will an eye on it to see we can get another chance to add a position.
Chart courtesy: marketsurge NVDA DAILY
Chart courtesy: marketsurge NVDA WEEKLY
THANK YOU |
TML FIVE TRADING RULES 1. Buy the stock as it break above base or trendline on above average volume 2. Sell -4% to 7% from buy point,intra-day 3. Take gains 20-30% above buying point 4. Use trailing stoploss to protect your gains 5. If you have three straight failure -4% to 7% ,stop buying and do postanalysis |