Welcome to the watchlist for Week 27 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 26 watchlist – Trend trading (overwi.se)
NVIDIA Corporation (NVDA) plays a pivotal role in the market, often influencing broader trends.
Last week, NVIDIA saw a notable 7% fluctuation, ending the week with a close in the middle of its range. This activity formed a Long-Legged Doji on the weekly chart, signaling substantial indecision among traders. While some may consider acting based on this single candle pattern, others prefer to observe subsequent price actions to gauge its true impact. It’s important to note that a Long-Legged Doji doesn’t necessarily signify the end of a trend. Instead, it may indicate the beginning of a consolidation phase, or it could simply be a minor fluctuation within an ongoing trend.
This week, a significant spike in volume caught my attention in Ryan Specialty Group Holdings Inc. (RYAN). While it’s evident that something noteworthy is happening with this stock, I’ll continue to monitor it closely for further clues about potential developments.
Last week, I speculated whether Amazon (AMZN) would break out from its trading range. Now that we have seen this breakout, it’s crucial to manage the trade carefully to maximize potential gains
Costco (COST) exhibited a strong consolidation last week, presenting a favorable entry point for those not already in the trade
A few weeks ago, I highlighted how the bulls were rallying against the bears’ pressure in Vital Farms, Inc. (VITL). We can now see a robust uptrend following that struggle, indicating a positive shift in momentum
It’s crucial to discern trading signals from the tape, rather than relying on news reports. Focus on the market’s actual movements to find the most reliable clues for your trades.
I’m cautious about front-running the market, especially given the strong resistance observed in Tesla (TSLA) at its current level. I’ll wait to see if the bulls can push past this resistance before making any trading plans for TSLA
AMKR experienced significant volume last week. If it reaches a new all-time high (ATH), I plan to join in, adhering to my standard stop-loss (SL) rules
Alpha and Omega Semiconductor Limited (AOSL) is currently advancing towards a resistance level, accompanied by noticeable volume. Keep a close eye on this stock in the coming weeks. Should we observe a breakout, we’ll proceed with trading it in our usual manner
Oh baby! Take a look at how tightly Endeavor Group Holdings (EDR) is consolidating—absolutely marvelous. Definitely one to add to the watchlist and consider for trading
I can’t overlook the fact that Gannett Co., Inc. (GCI) is currently at a pivot point, with weekly volume on the rise. It’s a clear candidate for our watchlist
Hawkins, Inc. (HWKN) appears poised for a breakout this week. We need to stay alert and be prepared to act.
All-Time High (ATH) for Jefferies Financial Group Inc. (JEF): Confirmed. Volume at ATH: Also confirmed. Are we ready to enjoy the ride now?
Oh boy! We’ve spotted a cup and handle formation in Nu Holdings Ltd. (NU), and I know exactly how to trade it. Let’s make the most of our knowledge and enjoy the ride!
Roper Technologies, Inc. (ROP) is currently in a nice consolidation phase, and we’re on the lookout for a breakout. Have you noticed the long-legged doji on the chart? Indecision giving us the consolidation
RXO Inc. (RXO) experienced a swift price surge, indicating a possible FOMO-driven move. I will wait for a retest of the old all-time high (ATH) before considering entering a trade
Vertex, Inc. (VERX) is currently forming a recognizable pattern that we can track. Once the pattern fully develops, we’ll be ready to execute our trade
Willis Lease Finance Corporation (WLFC) provides a clear example of how one week can engulf six weeks of trading. I plan to refrain from trading it until it breaks the all-time high (ATH), but it’s beneficial to follow this stock to understand this pattern better.
Outside USA
ADS-TEC Energy plc (ADSE) experienced significant volume during its breakout. It has been added to our watchlist
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.
The monthly cost is super low, so many of you can dive into trading without breaking the bank. But here’s the deal: don’t go sharing our secret sauce with others. Instead, just point them to the subscribe button.
If members start spilling the beans, we’ll all lose our edge, and I might have to bump up the cost for everyone. So let’s keep it hush-hush, keep the cost low, and enjoy this trading rollercoaster together!
There is no excerpt because this is a protected post.