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TRUE MARKET LEADER
01/29/2024 analysis
‘‘ God i love this job. it punishes the emotional and rewards the systematic. it humbles the arrogant and exalts the meek. it demotes the impatient and promotes the calm. In short, trading makes u a better HUMAN in general by taxing you for every negative character trait u possess ‘‘-ANONYMOUS
MOVING AVERAGES USED
REDLINE = 50 DAY MOVING AVERAGE
GREENLINE = 10 DAY MOVING AVERAGE
PINKLINE = 21 DAY MOVING AVERAGE
The Nasdaq index sits more than 5% above its 50-day moving average line and is slightly above its short-term moving averages (10 an 21 MA). Nasdaq stocks are up about 4% for January,However the index is approaching key resistance at around 1600.
The S&P 500 moved down 0.1% but remains near ATH after moving up 1% this week. Like other indices, this was the S&P's 12th weekly rise out of the past 13, and it too now sits above its moving averages (10,21 and 50 MA). The index also face resistance at around 4900,if we can get more volume this week we can breakthrough the resistance in all indices.
I USUALLY SELL LAGGING STOCKS AND ADD TO THE BEST MOVERS (LEADERS)
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 prefer to sell positions when the IPOs hit 20-25%,because most of IPO stocks are volatiles. i took my profit on this on tuesday seeing whipsaw action on the chart,its pass for me now.
RATING; A I still have aposition on this but will see how it will act around the pivot point,the stock is still have chance to perform well,40% of the stock will usually make a pullback to the pivot point.
RATING: B I do have aposition on this but we need more volume push this stock up,i think we need to give more time as long we approaching ER which may act as catalyst.
RATING: B I sold my position on this stock its look like the upside move its arleady finished,it need more time basing ,will continue to wartch how it will act.
RATING: B I sold my position on this i dont like its whipsaw action (up and down),will wait until i can get more tight action,otherwise fundamentals are good.
RATING: A I found this stock approaching buying point,the company has both technical and fundamental action ,will keep an eye on it, paypal has too much overhead supply,it need time.
RATING: B I still have a position on this stock,it had nice move in the last week,will wartch if we can get a consolidation so that i can add into a position,fundamentals are good and institutions fund are increasing.
RATING: A The stock is building cup with handle ,will buy when it wil cross buying point (blue zone) on volume,the company has good earning future expectation with triple digit this year.we need volume to move past the current resistence.
RATING: A I have a position on this stock,the stock is currently extended buying point after long consolidation.Triple digit EPS nd double digit sales company is worth paying attention to as BILL O’NEIL would suggest,its not an easything for the company to have such number as many companies strugling with their negative sales and EPS. the thing we need on this stock is more volume to move current line of resitence
RATING: A I do have a position i started when it moved above the redline,the company have good fundamentals including heavily investing in AI technology.its now most valued company in the world with a lot of reserve cash for investing and buying any companies.its worth paying attention to.
RATING: A I have a position on this,the reason i bought this stock is it has very good fundamentals eg 241% future earning estimate ,triple digit EPS and sales.Also its has good techinical action such huge prior move which shows the accumulation of shares by institution investors.the volume was way above average when it moved above the buying
RATING: A I have a small position on this, after moving above the wedge/pennant.the reason for buying stock is it has good previous move technicaly and also their whole industry group ( software security ) is strong group all stock moving up eg CRWD and ZS .Also i noticed the stock made a pullback with very low volume which is characteristics of true market leader point
RATING: A I saw the stock on IBD STOCKS ON THE MOVE ,the stock had huge volume (600+) as moved past the pivot point.then i st
arted a position on this and ended the day with nice move (20%) .the stock has both fundamentals and technicals. the stock is worth to pay attention I took some profit off the table on friday as my trading rule.
RATING: A I do have a position on this and added after moved above channel line on wednesday ,the company have good both technical and fundamentals items.the triple digit EPS and positive earning estimate can be the reason for the better performance of this company.the stock had nice rebound at 10-day MA last two weeks.
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
THANK YOU FOR YOUR TIME
NB;ALL GRAPH/CHART IS FROM MARKETSMITH APP WHICH IS IBD TRADEMARK. You can join here : https://t.ly/UxNt0
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