Several Trade Ideas for the upcoming week
Dearest readers,
What a great start to 2021 !!! I hope you have had a great trading week. Risk is a price you pay for opportunity and when you fail, don't forget to learn from your experience. Momentum trading is not for everyone, but it can often lead to impressive returns if handled properly. With patience and discipline, you can take much more from the stock market than you ever gave. Trading stocks is not easy for beginners or professionals, it is really very hard and requires a lot of attention and knowledge. If stock trading was easy, everyone would be doing it. You can be successful at the stock market, with patience, discipline and a good trade set-up. The key objective is to make money and not lose it. Let's start sharing more trade ideas for the upcoming week.
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The strong move in LM Funding America Inc (NASDAQ:LMFA) shares was something that I tweeted Friday as a potential big percentage mover after the company announces Filing of SPAC Registration Statement. If you were following my twitter account you would have gotten the tweet when the stock was trading around 90c. If you jumped in and booked your profits, congratulations. Looking at the daily time-frame chart if price breaks above $2.42 next week on a regular trading day, then we should probably see a significant move to the upside to test the June highs around $4.89 as I mentioned Friday. Any pullback to the pivot point of 1.75, should be considered a technical buy opportunity for another swing trade. The LMFA chart has a lot of upside potential, so watch it closely next week.
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Remember some of you might be long Borqs Technologies Inc (NASDAQ:BRQS) from my comments back on Dec 22. At the time I stated that the stock could be looking for another run to 1.50 If you bought, congrats you are doing well, currently it's trying to take out that resistance area. Patience always pays off.
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Qualigen Therapeutics Inc (NASDAQ:QLGN) has achieved a boost during Friday’s market as traders witnessed the oversold condition, driving shares up 2.83%. I would like to see a break over yesterday's high of 3.33 to indicate possible bounce is on deck. I feel that fundamentally, the stock looks attractive at least for the short term. I also would like to point out that insiders have been buying shares. Generally when insiders buy shares, especially in large amounts it is a sign that positive things are coming. Lets see if this one is my next APDN (+100% on Friday).
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Oriental Culture Holding Ltd (NASDAQ:OCG) closed strong yesterday under active bidding. The stock is on the verge of breaking out and it could happen very soon. At this stage it is definitely a wait and see if the resistance will be easily taken out by the bulls. If the price breaks above 5.48 next week, then we should probably see a significant move to the upside. This stock hit a record high recently well above $25 Watch the stock closely next week.
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SINTX Technologies Inc (NASDAQ:SINT) The stock has taken a strong support around the 1.55 area and reverted just after touching those lower levels last week also breaking out of a descending channel pattern on the daily chart. The closing of the stock seems attractive to the bulls, which are likely to continue in the coming session as well. Long setup on watch.
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DPW Holdings Inc (NYSEAMERICAN:DPW) is a stock I think deserves some watching over the coming sessions for a potential reversal. All key momentum indicators are in favor of an upward price movement. DPW will move quickly, so keep it on your screen next week.
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Sundial Growers Inc (NASDAQ:SNDL) As I have been mentioned in a few tweets over the past couple of days, I keep holding my long position in SNDL waiting for something BIG. At 68c this looks a lot like JAGX in the last trading week of 2020 trading crazy volumes before the big move and it has the potential to pull a similar move. Let's see if I know what I am talking about. NOTE: Penny stocks are risky but if you know what you are doing and exercise caution when necessary you stand to gain large returns on relatively small investments, so play accordingly.
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Tesla, Inc. (NASDAQ:TSLA) I took a short position on Tesla, against the grain and as usual I was victim of several insults from people that dont know how the market works. Look what happens every time the RSI indicator hits extreme overbought levels. The stock always pulls back to the rising EMA50 now located at 603. Regular price pullbacks are very healthy and an important part of the move to the upside. As I said yesterday I'm a long-term Bull, but a short-term Bear. It's what it's. As a daytrader I use these indicators trying to anticipate a trend before it becomes one. History is a key factor on the assessment on the stock market. The more the stock rises without a pullback, the more it attracts investors as the greed response takes hold. For now I have to be skeptical and the possibility of a big pullback to its EMA500 at $600 is very real here. Never forget what Warren Buffet says, pessimism is your friend in the stock market, euphoria is your enemy. The more euphoria the more panic will result.
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Kodak (NYSE:KODK) From a technical standpoint the stock looks poised for a possible trend reversal, after dropping to the $8 level forming a potential bottom pattern. This, along with oversold readings, could lead to the start of a short-covering rally. Significant jump above 8.85 can take the stock northwards to 10.30 or even to 12.5
A BIG THANK YOU TO ALL OF YOU: I just crossed 85000 followers on Twitter and reached 101000 followers on Stocktwits. The numbers of followers have grown tremendously over the past weeks. I'm especially grateful for your attention and interest. That's really nice and humbling to witness. Thank you so much everyone.
Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.
Thanks for visiting AC Investor Blog.
AC
Labels: BRQS, DPW, KODK, LMFA, OCG, QLGN, SINT, SNDL, TSLA
