Welcome to the watchlist for Week 26 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 25 watchlist – Trend trading (overwi.se)
NVIDIA (NVDA) experienced a drop at the end of week 25, on June 21, 2024, influencing the broader market’s downturn due to its pivotal role. Despite the market’s overall slump, some stocks like Amazon (AMZN) stood firm. Considering its resilience, is Amazon on the verge of breaking out of its current range and initiating an upward trajectory?
Microsoft (MSFT) continues to climb higher and higher. Is this surge due to the OpenAI effect, or is there another factor at play? Regardless, I stay focused on the tape and adhere strictly to my trading rules
“During market downturns, I meticulously review my entire watchlist to gauge market behavior. As indicated by the charts, I’ve observed that the market is actively clearing take profits (TP) and stop losses (SL) with substantial volume. Based on this analysis, I’ve compiled a new watchlist comprising stocks that exhibit large downward bars but close near the top of those bars. ( 4 examples )
Ameriprise Financial, Inc. (AMP) is currently within a trading range and experienced notable volume at the end of the week, despite the broader market being in the red. Is it poised for a lift-off?
Williams Companies, Inc. (WMB) recently made a breakout but reversed on heavy volume. I’ll be keeping a close watch on this stock in the coming days
Argan, Inc. (AGX) has reached an all-time high (ATH) accompanied by significant volume. Consider trading at the pivot point
Mr. Cooper Group Inc. (COOP) has shown substantial volume during what appears to be a ‘dragonfly doji’ candlestick pattern. Could this indicate a time for reversal and a potential breakout?
Freshpet Inc. (FRPT) faces significant overhead resistance, yet it’s constructing a stair-step pattern upward, providing clear exit points for traders
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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