Lift off? – 4/24/2021
The week ends with strong moves in the Stonks!
A great move in the Russel to trigger a slingshot. I had been concerned that this was setting up as a potential head and shoulder top. Continuation of the move would negate the H&S and position us for a power move to the upside.
ABNB – supply looks to have tried up as we had an undercut and rally followed by a slingshot trigger. Took the position at 172. Was strong during the day but faded towards the close. Remains to be seen whether it was a 21 ema rejection. I’ll feel good about this position when it establishes itself above $180
AMAT – sets up nicely at the 21 ema. Took the intial position at 119, trailed out through through 130s-140s. Reestablished the position 134. setups up nicely. now above the 10ema – Slingshot looks in play on Monday.
CCIV: reclaims support level after an undercut- slingshot triggers. Has a lot to work to do but this looks like a pretty low-risk entry.
DDD- Similar to CCIV. It either works or it doesn’t. Trade was taken on the reclaim of the initial volume burst level.
RAIL: Boom! It rarely gets better than this off an entry. I love instant gratification
$TDC – Fishhook – Just a matter of seeing how much interest the institutions have in bidding this up. Stop at break even.
UPST- Took the position through 100. It’s working. Stop at even
$VCEL – setting up as a more traditional breakout. My theory is that failed breakout and rebound was a shakeout. triggered a slingshot inside pattern. This one is a bit thinner than I would like but so far it’s acting okay.