Welcome to the watchlist for Week 21 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: 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 20 watchlist – Trend trading (overwi.se)
NVDA is a key driver of the market. When NVDA performs well, the market tends to follow suit. Currently, NVDA is finding support at the WMA10. The WMA10 is flat right now. Earnings are this week, so be careful.
Semi-conductors are experiencing volatile earnings this season, making holding NVDA a choppy ride. Exercise caution and monitor closely.
Volume has dried up for Carvana, indicating a potential upward move from here. Set a stop loss below the last low. If trading within the range, aim for a 1:2 risk-reward ratio. A 1:3 trade is also possible.
GenDx has formed a flag pattern and we’ve seen a breakout, but it was not accompanied by significant volume. We need to observe whether the market will test the 123 Weak Hands pattern next.
BHE’s stock price is currently extremely extended.
Avoid succumbing to FOMO and resist the urge to jump into this trade. It’s best to wait for a pullback before considering an entry.
Currently, the stock is trading in a tight range and showing signs of action. So we may be good for trade it.
Nu Holdings Ltd (NU) is currently forming a classic cup and handle pattern. Make sure to read up on this pattern so you understand how to effectively trade it. Trend mode enabled for this stock.
Kyndryl Holdings, Inc. (KD) has reported very strong earnings. Keep an eye on this stock moving forward.
AppLovin Corporation (APP) has reported exceptional earnings and sales, suggesting that significant stock movement may be imminent. However, exercise caution and avoid acting on FOMO. The stock is currently in a tight range, showing signs of potential action
Google is using the 10-day moving average (DMA10) as support during this uptrend. We can utilize DMA10 as an entry point and as an indicator for any changes in character.
Google is testing a breakout. Will we witness some notable action soon?
Additionally, Google is featured on the big earnings list
Lantheus Holdings, Inc. (LNTH) has delivered surprises in earnings and sales. Following a breakout and a test of the breakout price region, will the stock now start to climb, or are we anticipating a shakeout of weak hands?
Weatherford International plc (WFRD) tested a breakout but then fell back below the breakout point. This resembles a ‘weak hand’ shakeout, though it hasn’t declined enough to be considered effective. Despite this, the setup suggests potential for a rise from here
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.
Tronox Holdings plc (TROX) is currently trading within a tight range. The outlook for future financial metrics appears promising, suggesting that entering a position in this stock could yield rewards. Only breakout.
Tidewater Inc. (TDW) is a growth powerhouse. Analyze it closely and look for entry points on breakouts. Currently, the stock is trading within a tight range
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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