Hi everyone,
I hope you are having a great Friday!
In this article I’ll concisely share my thoughts on the day’s action. And share a bunch of stock charts that caught my eye.
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Now let’s dive in ↓
QQQ - More new highs. continued trend above the MAs
IWO still weaker
Shortest - 10 Day EMA - Up - Above Rising
Short-term - 21 ema - Up - Above Rising
Intermediate term - 50 sma - Up - Above Rising
Longterm - 200 sma - Up - Above Rising
NVDA trending
CRWD flagging post gap. would like the 10 ema to catch up. CYBR setting up
PINS strong reversal off the 21ema and back in the range
PLTR building a spot here up the right side
SIMO secondary semi name setting up
FORM double inside
APP trying to hold here after the secondary
NFLX strong follow through and great move from RMV signal
TMDX tight
We remain in a strong trend. Semis flagging to end the week.
Risk Management is Paramount
Refuse to enter randomly without managing risk and wait for the spots to develop, they will. Stocks during strong moves always pull back to the 21 ema, 50 sma multiple times. Look for a tight and logical entry point.
Have patience, focus on the best stocks with the greatest potential. These will telegraph the rest of the market.
Take it day by day and manage risk along the way. Be ready for anything
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Cheers!
Richard
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