Here is my personal trading plan for my trading account based on the weekly close of the market after analyzing the price action. I first opened a hedge short (and posted the chart here) weeks ago at around 47000 when the weekly candle close indicated a trend shift. But, then the S&P popped to a new all time high, which invalidated that idea momentarily. We were...
CLRO is nearing a zone of major support. Looking interesting for a long.
XELA is testing key support for a possible bounce. Volume looks decent. This is the level to bounce from if it's going to do it.
Last time price hit this level, it formed a new ATH. Risk/reward to first PT is 3.64. Volume increasing. I'm scaling in with the bulk of my orders at the bottom of the green box. This may take weeks to play out.
Beyond Meat BYND is holding nicely on the daily and weekly at key support. Risk/Reward to first profit target is good. I'm scaling in here with a relatively tight stop loss. This is the level to hold, and if it gets much lower, there isn't much price support south of this level.
Rite Aid has found solid support in this range. I'm looking for a re-test entry. Risk/reward to first PT is 5.03, which is good.
Looking good with a nice bounce from support. I'm looking to enter on a re-test at the green buy zone indicated here. I'm expecting a re-test and continuation up.
Risk/reward as shown is 4.63 to first PT, which is good despite the overall dumpiness of this stock. It would be extremely risky to attempt this trade without a stop loss.
Currently retesting local support for a possible bounce, as evidenced on the daily chart. My stop loss is very tight on this one, as I think there is a fair chance that it will get hit. But, this is showing early signs of bottoming, so we'll see. It would not be wise to take this trade without a stop loss IMO, and will be treating it as a scalp until it gains...
VIAC is holding support here with multiple daily buy-back wicks and is showing early signs of a bounce from this level. Risk/Reward to first PT is 4.62. I drew this level months ago, and to be fair, it would also make sense to have additional buy orders slightly below the green buy zone.
WULF is approaching a level of support for a reversal. Looking to do a daily gap fill. Risk/reward is favorable at 4.39.
Risk/reward to first profit target is 5.29. Currently holding support.
ASPU testing strong support here for a possible bounce.
This level should provide substantial support for a possible bounce. The risk/reward here is favorable for a long. Stop loss is essential, as always.
The risk/reward on a long here is pretty enticing. Otherwise it's a long drop to the next support zone.
BLIN looks to be holding key support for a bounce here.
I'm taking this trade as a quick swing trade, since I still think a re-test of $90 is quite likely at some point. But that daily candle close looks strong.
The S&P lost a key level on the weekly. A retest of that level and a selloff is quite likely, although we all know how shorts have fared over the past year. A short of the index via SPXU or other ETF would be wise to include a stop loss at ATH in case the bull train pushes ahead.