1 month ago
25
Trader’s,
I look forward to sharing several of my main ideas with you all for the week ahead. As is often the case, the ideas will span bigger-picture swing ideas, along with some intraday move-to-move ideas.
So, let’s get right into this week’s top ideas and plans.
Semis at a Junction: One chart/sector that stands out to me right now is SMH / Semis. SMH is tightly coiled between its 50-day SMA, which acts as supply, and its 5-day SMA, which acts as support. If it breaks above the 50-day, I think we could get decent intraday follow-through to the upside. The opposite is true if we break below the 5-day SMA. As a whole, I will be watching SMH for rel. strength or weakness around key levels. And if price action firms above last week’s high, a couple names stand out for potential follow-through to the upside – as examples for the long side:
AMD: Super action on Friday with a strong close above its 50-day, breaking out of its coil on the daily. If the sector and AMD show some strength next week, I like AMD for dip-buys / a buy on a hold above Friday’s high for continuation.
English (US)