In the mid of Dec 2020, I subscribed a newsletter that sends me one stock per week to provide a briefing in the fundamental of the company such as how the company works, how it solves the problem, product, strength, weakness, growth prospects, financial numbers, etc…In terms of the information provided, it is more than enough for me as a trader, who only look at the price action and the volume.
What I find interesting for these stocks is they generally has something in common, which is strong momentum. This is certainly an attractive point for swing trading. Let's take a look this stock watchlist including OMXSTO:EVO (Evolution Gaming Group AB), OMXSTO:EMBRAC_B (Embracer Group AB SER. B), NYSE:FTCH (Farfetch Ltd), NASDAQ:MWK (Mohawk Group Holdings INC), NASDAQ:OPEN (OpenDoor Technologies INC), NYSE:SKLZ (Skillz INC), NASDAQ:UPST (Upstart HLDGS INC), and analyze from the price action trading and Wyckoff analysis aspects.
PSTG - is in a beautiful structure, huge causes built for two years. Sign of strength rally followed by shallow backup action. Yesterday strong push comes with rejection tail suggested some profit taking activities. Can look for ways to scale in.
awisecrackin
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@mingjong, thanks its really nice to have more knowledgeable people give me some thoughts on what they see on what i (potentially)see
mingjong
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@awisecrackin, You're welcomed. This is a nice catch! Good on you :)
Novice-PUNDIT
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Thank you. Really liked your detailed analysis. What do you think about MP?
mingjong
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@Novice-PUNDIT, welcomed. MP is looking bullish. So far potentially in a re-accumulation structure. Emergence of supply on 11 Feb and a reaction is unfolding. Look for possible bounce from the green box.