$GOOGL | WEEKLY WATCHLIST 11/8Risk/reward here is quite low for upside. If you aren't already in from when I shared Google before, I would wait for a pullback to enter long.
Calls
$GM | WEEKLY WATCHLIST 11/8Potential weekly breakout here... Interested to see how we look towards the end of the week.
$ATVI | WEEKLY WATCHLIST 11/8Looking for a bounce off major channel support. Sitting in oversold territory.
LONG GoldI'm looking to get into SAND December calls.
~Gold Is looking really good and going off of past history, end of November is a big run for gold and silver.
~SAND has a nice looking inverse Head and shoulders going on.
~SAND also bounced off of the long term support
8 Bucks is my PT, as that will have the most resistance. I will also be watching if it breaks out above the resistance line.
$PYPL | REQUESTEDPayPal looks to be finishing up a regular flat for the corrective wave 4. They report earnings on 11/8 AH.
Things to note:
- Sitting on diagonal support
- Completing corrective wave 4
- Daily RSI showing a lower low (Seller Exhaust)
- Daily chart showing higher low/double bottom forming
- Possible hidden bullish divergence forming (Signals Continuation)
$NVDA | REQUESTED TAAfter an INSANE run today, Nvidia looks like it needs to cool down a bit. Going long at this region presents a lower risk/reward than I'd ideally like to take. Things to note are the extended MACD and 2.618% fib extension to potentially conclude wave 3.
Pullback into $255-270s would be ideal to build a base for the 5th wave higher!
$GOOGL | TRADE IDEAGoogle gifting us with a new ATH today. All eyes on the previous ATH level of $2973. Need a daily close over this key level to confirm continuation towards my wave 3 target of $3032!
$RTY | UPDATEAlmost at the wave 3 target, upside limited in my opinion. Wait for the wave 4 dip. It will be a gift in the market.
Thank me later.
$QCOM | UPDATEAll targets HIT and gap nearly filled after a monster move from earnings! Idea was shared when QCOM was trading at just $130 resulting in over 20% move in equity.
Congrats if anyone played this one!!
This Stock Looks to Much HigherNYSE:AER
Academy Sports and Outdoors has a really bullish chart and overall has gained massively. Not sure what's going with the fundamentals but the chart looks really crazy.
$AMD | TRADE IDEAAdjusted my AMD count and this one makes more sense to me now. Looks like a larger nested 1-2 count instead of a 3-4 from the falling wedge area. This makes the count much more bullish and aligns a bit better with current price action.
As long as $118 low holds, I expect $146 target.
$WKHS | TRADE IDEAThis one has LOTS of work to do and MANY hurdles to get through... but if the $6 low holds, I see $69 first.
$RTY | TRADE IDEALimited upside left on this wave 3. Wave 4 pullback to retest the breakout will be a GIFT. Targeting $2555 from there.
$OSTK | TRADE IDEAIt's probably nothing right...?
Looking for retest and hold of breakout to confirm higher!
$GM | UPDATELooks like we have a bit more consolidation to do inside of the wedge... Only a matter of time before we see a nice breakout.
Overstock is Ready, Are You?NASDAQ:OSTK
This stock came up on my option scanner and I have to say that I totally agree. This thing could just be getting started.
I looked back to see how price reacted at this level when the above indicator was this far extended. We got some pretty nice gains, most notably the first.
PT $125?
$MMM | Trade IdeaNice inverse head and shoulders forming on the daily. MACD also looks like it wants to flip too. One thing to note is the potential rising wedge pattern forming after quite a large drop. (bearish)
Must wait for confirmation before considering an entry.
$ROKU | WEEKLY WATCHLIST 11/1Make or break level for Roku here. We must see a strong bounce this week ($25+ bounce) or else it looks quite rough for the outlook of this one...
$QCOM | WEEKLY WATCHLIST 11/1 Didn't have time to do a full Elliot Wave Theory analysis on this one, I apologize for that. However, very clear supply/demand zones labeled, while trading within a wedge. Extremely attractive bullish inverse head & shoulders shown on the chart, looking to potentially confirm and breakout early in the week.
The only thing holding me back from this is the fact that Qualcomm reports earnings on November 3rd. Setup is extremely good on this one, so I may make an exception and possibly day trade this one before earnings. Not looking to swing until after earnings is reported.
$NVDA | WEEKLY WATCHLIST 11/1One of my better counts that I'll be watching develop. We have hit and rejected the 1.618 fib extension wave 3 target of $257.32. I anticipate some distribution to occur this week near this level before an ABC major wave 4 retracement takes place. This should take us anywhere between $226-242 (I know this is vague for now since not much clarity yet) and should expect a bounce somewhere in this price range. Once we can confirm all of this is correct thus far, I will then consider starting my long swing for the wave 5 target of $290-300. Patience is a must here and we will most likely be tracking this setup for 2-4 weeks.
$NIO | WEEKLY WATCHLIST 11/1After an extremely frustrating and long corrective phase, I believe we are nearing the end of this. Looking for a dip to complete the wave 2 retracement and a very buyable zone from $35-37 as long as it holds. I see this as a major bottom and wave 3 to proceed with minimum target at $48.57.
I still hold 2023 calls and will continue adding on dips (including this one if it plays out). My long term view of NIO is quite bullish and I believe it is lagging quite a bit against the rest of the EV sector. Don't be surprised to see this at new ATHs in 2022.
