TRUE MARKET LEADER

03/10/2024 analysis

Author

mkopi nyaumba
March 11, 2024

“I look for confirmation from the chart, the fundamentals, and the market action. I think you can trade anything in the world that way’’-MICHAEL MARCUS

MOVING AVERAGES USED

REDLINE = 50 DAY MOVING AVERAGE

GREENLINE = 10 DAY MOVING AVERAGE

PINKLINE = 21 DAY MOVING AVERAGE

This past week the nasdaq has made a retest to the previous support although the volume was slightly above the average on weekly timeframe.But as long as the index is trending above the 21 -moving average we can still have comfidence on the trend until it bend or break below the key moving average.

NB;ALL RAPH/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/UxNt0G

The S&P500 touched the 21-moving average with the volume being slightly above average on weekly timeframe ,i still have comfidence with current trend until the trend is broken into downtrend,staying above the 21-moving average this week will likely be the best thing although most of leader has made reversal handle lastweek.

HERE ARE LIST OF STOCKS WHICH I HAVE BOUGHT OR I’M LOOKING TO BUY ONTO THIS WEEK.

RATING: B I have a position on this inspite having huge reversal on volume lastweek ,the company has good EPS and Sales . it gas formed deep cup with handle as its shown with Marketsurge pattern recognition feature.

RATING : A I have a position on this stock i bought because it has formed nice cup with handle plus good technical and fundamental action.worth paying attention to.

rating; B I had a position on this but i sold due to the whipsaw action (up and down),Its a pass for me now ,

RATING ; B Idont have a position on this stock but i love it because it has positive earnings estimate,also i like how they are using their money i.e ROE IS 70% which is way higher than normal. if it can get pull back to the pivot point (blue zone) i can buy it.

RATING; A I do have a position on this as the stock has formed inverted head and shoulders . the company has consistence in delivering better EPS and sales plus it has positive estimated future earnings.it is was to pay attention to.

RATING; B The stock is currently ranging at the pivot point (blue zone) ,its normal for stock to do so before having upside move .i do have a position on this and i expect to hold it until it break below my pivot point.it has good technical and fundamental action.

TTRUE MARKET LEADER