Welcome to the watchlist for Week 22 2024. This weekly compilation offers some ideas for you to analyze. Please note that the trades listed here are not ready-to-execute suggestions; do your own due diligence before trading. I dedicate many hours over the weekend to preparing this list, so instead of sharing it directly with friends, please recommend our site to them.
80% of my portfolio is invested in three stocks: NVDIA ( NVDA ), Novo Nordisk (NVO), Cava (CAVA), and Eli Lilly and Company (LLY). The remaining 20% is allocated for swing trades. I stick to trading from this watchlist to avoid succumbing to FOMO on other stocks.
Last week report : Week 21 watchlist – Trend trading (overwi.se)
NVDA plays a pivotal role in the market, often influencing broader market trends. Currently, it finds support at the WMA10. With NVDA at an all-time high and RS at 98, it’s driving the market upward. It’s crucial to remain vigilant and closely monitor developments.
Carvana – CVNA – has dropped below its last low. Will the stock find support at the SMA 50 and shake out weak hands, or will it continue to fall? I’ll wait and see
GenDx has formed a flag pattern, and we’ve witnessed a breakout. Currently, the market appears to be testing the 123 Weak Hands pattern.
AppLovin Corporation (APP) has found support at the DMA 50. Keep an eye out for a potential reversal from this level
Alphabet Inc. (GOOG) is using the 10-day moving average (DMA10) as support during its current uptrend. We can use DMA10 as an entry point and as an indicator for any shifts in the stock’s behavior. As Alphabet tests the breakout region, we have two ‘triggers’ that support its position. Additionally, Alphabet is featured on the major earnings list.
TransMedics Group, Inc. (TMDX) turned positive in Q4 2023, and Q1 2024 has confirmed that we are on the right track. The stock price is progressing like a staircase, a positive sign indicating that we are attracting buyers at each level.
Tidewater Inc. (TDW) is a growth powerhouse. Carefully analyze it and watch for entry points during breakouts or DMA50 support – more risky – . Currently, the stock is trading at the lower end of a tight range and is close to the DMA 50. Will it find support here and prepare for a potential rise?
This week, we should keep an eye on two stocks: Abercrombie & Fitch Co. (ANF) and Cava (CAVA). Both are approaching earnings releases and are currently attracting significant interest from investors.
Keep an eye on Fortress Transportation and Infrastructure Investors LLC (FTAI). It’s currently reaching all-time highs (ATH) and gaining significant traction.
Autoliv has experienced a gap up with significant volume, indicating potential for further upward movement. The question now is whether the market will close the gap before continuing to rise.
Atlas Copco is currently in a Darvas box and is bouncing off the SMA21. I recommend waiting for a breakout before making any moves
Investor AB is positioned just above the breakout region. This is a promising sign for potential upward movement in the future.
Saab is currently testing its previous highs from the upside. Let’s look for a potential rise from this point
Tobii Dynavox is perhaps my favorite setup among Swedish stocks this week. I’m hoping to see a strong breakout from its current box. Considering a trade from the bottom of the box is also viable, as the bottom has been tested more than once
If you have any questions, please feel free to contact me at henrik@overwise.se or reach out to me on Mastodon at @hekenberg@mastodonsweden.se.
There is no excerpt because this is a protected post.