Welcome to the watchlist for Week 24 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.
I base my trades on market action, so positions can open or close within minutes. It’s crucial to consistently follow your trading system.
80% of my portfolio is invested in three stocks: NVIDIA (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 23 watchlist – Trend trading (overwi.se)
NVIDIA Corporation (NVDA) plays a pivotal role in the market, often influencing broader trends. With a stock split scheduled for Monday, June 10, 2024, it’s crucial to monitor how the stock reacts. Will there be selling pressure as investors take profits, or will more buyers emerge due to the lower price point?
As I wrote last week, GenDx has formed a flag pattern and we’ve witnessed a breakout. I noted then that the market seemed to be testing the 123 Weak Hands pattern. This pattern has now been confirmed.
Last week, AppLovin Corporation (APP) experienced several shakeouts, accompanied by noticeable stopping volume. Considering a trade at the low end of the range could be viable. Always remember to use a stop loss (SL).
Here is the text from last week “Keep an eye on Fortress Transportation and Infrastructure Investors LLC (FTAI). It has reached all-time highs (ATH) and gained significant traction, subsequently forming a ‘Weak Hand’ pattern. The buy point is now set above the ATH”
You should not be in the trade at this moment. The market is once again testing the weak hands.
Abercrombie & Fitch Co. (ANF) is showing an interesting setup currently. After a quick rise, it experienced a drop but has begun climbing again. Notably, the decline was less than 50% of the previous ascent.
Refer back to what I wrote about Saab last week. We observed two instances of the 123 Weak Hands pattern in Saab. Have you noticed them?
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.
@overwi.se Great list! Could you elaborate more on the 123 week hands pattern. Great to see more example of this setup 👌
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There is no excerpt because this is a protected post.