Welcome to the watchlist for Week 25 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 24 watchlist – Trend trading (overwi.se)
NVIDIA Corporation (NVDA) plays a pivotal role in the market, often influencing broader trends.
Novo Nordisk is currently trading within a narrow range, presenting a potential opportunity to initiate or add to a trade. However, there is a cautionary note to consider: the Novo Nordisk CEO is scheduled to testify before the Senate regarding Ozempic pricing, which could impact the stock’s movement.
Apple achieved a breakout this week. Will Amazon also break out from the extensive range it has been trading in? Currently, there’s a tight range forming at the top of Amazon’s trading range, which might indicate an impending move.
Hims & Hers Health, Inc. has experienced a rapid ascent recently and may need some time to consolidate. Looking ahead, I envision two possible scenarios for the coming weeks
- Cup and Handle: Expect a normal pullback followed by a rise. This expected movement helps us prepare and remain calm during the pullback. However, how low can the handle go before it becomes a concern?
- Rounding Bottom (Saucer) Pattern: After forming a saucer, the stock should begin to rise and continue pushing upwards.
These two scenarios provide a framework for planning our trades methodically and without stress. Are you following the strategy?
Post about Hims
https://mastodonsweden.se/@hekenberg/112613373801418940
CrowdStrike Holdings, Inc. (CRWD) is advancing with significant volume. If you’re already in this trade, enjoy the upward momentum. If you missed the initial move, consider planning your entry around the $364 region. The market often retests the breakout region and the previous high.
Does the chart for American Superconductor Corporation (AMSC) remind you of another? Indeed, it bears a resemblance to Hims & Hers Health, Inc. Given this similarity, the same strategy applies to AMSC, and we’ve added it to our watchlist
ANF is displaying a well-defined cup and handle pattern on the H4 chart, which is also visible on the D1 chart. Let’s take this opportunity to deepen our understanding of cup and handle patterns and prepare for potential trading opportunities!
Vital Farms, Inc. (VITL) recently showcased an intense battle between bulls and bears, with the bears taking a hit! Let’s wait and see how it unfolds. We’re anticipating a move to all-time highs, hopefully accompanied by significant volume
Aspen Aerogels, Inc. (ASPN) experienced heavy trading volume a few weeks ago and is now exhibiting a tight weekly range. It appears that the stock is poised for a significant move. However, we will strategically act on a clear breakout and avoid any FOMO-driven decisions.
Freshpet Inc. (FRPT) tends to experience significant jumps around earnings announcements, introducing additional risk to your portfolio. However, adding this stock could provide valuable learning opportunities. Consider incorporating FRPT into your watchlist to gain insights from its performance dynamics.
My trading systems indicate some activity in Erie Indemnity Company (ERIE). I plan to execute some trades at the lower end of the range and will employ a tight stop-loss strategy
EUROPE
Clas Ohlson appears to be forming a cup and handle pattern. Have you noticed it? Within the cup portion, the stock has shown significant movement, jumping once during a downtrend and again on its ascent. Also, do you observe how the market is testing the upper boundary of the gap down?
Investor AB has shown some strength but experienced a fallback this week. I’m anticipating a ‘123 weak hand’ pattern setup and plan to trade based on this strategy
Atlas Copco is currently trading within a tight range, setting the stage for a potential breakout trade
3i Group has broken out of its range and is currently testing the breakout region. Will it be a ‘123 weak hand’ scenario or will the stock rise from here? I’ll keep a close eye on the market and 3i Group’s performance
Rolls-Royce Holdings (RR) is exhibiting a tight weekly range, punctuated by days of high volume. Prepare for a potential buying opportunity with RR
The Paris stock market experienced a very shaky week and is likely to face increased volatility in the coming weeks. I will be adding stocks from Paris to my watchlist and plan to take action once the market stabilizes. Here are the stock I will watch
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.
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