Hey everyone, welcome back to another Sunday Scan. We have a busy week with several key movers and lots of setups.
The key to this market is patience and selectivity. If you’re trying to nail everything at all times, you will likely get chopped up. Narrowing down your watchlist and focusing on clear setups with key levels and great potential range will be more effective than chasing every mover. We will likely get some wild action into the upcoming election, so focusing in for the next few weeks will be key.
We will run through some charts, and then Stan will join later on for the main watches. Let’s get right into it.
Video Scan and Game Plan
The Playback
GNPX multiple setups for the trappy action on the long side to go back and review. Low float, high volume, and looks like its going to break down but catches itself and ramps the other way.
IBRX example of intraday parabolic and mean reversion. When the chart speeds up relative to prior action enough to clear out all the shorts and volume capitulates, that’s when clean fades take place.
PHUN great example of a sympathy name (to DJT) running up with the main name and collecting all the weak handed longs in there, and then finally a catalyst with the CEO retiring and the stock disconnecting from what it was “anchored” to (DJT). 40% fade with no real headaches along the way.
DJT grinded up and saved every dip leading into the big interview with Rogan and the election coming up. Waiting for the day it acts different and longs get off sides. Zoom out to put the trend into context.
TVGN trappy action all week within a chanel / trend collecting more shorts.
IONQ leading the quantum sector theme with a clean trend that’s just starting to speed up from prior legs.
Main Watches
DJT & PHUN amazing opportunity on PHUN on Thursday, no bids all day, just pressure. Ideally action continues into next week and elections. Looking for big moves/big range and staying away from sideways chop
IONQ reminds me of ASTS, OKLO style/type of ticker. Daily range is expanding, so looking for gap up parabolic and fail. Careful if not below vwap and holding.
SMR on watch vs 19s-20 next week or continued pressure sub 17s. Ideally it breaks out of the channel and offers an opportunity either direction.
NUKK, GNPX, ZENA all on watch for a potential liquidity trap setup in the coming days.
China basket on watch for a potential bounce. BABA PDD JD FUTU TIGR etc – just pick whatever you are more comfortable trading and look for opportunities there.
TSLA episodic pivot type situation after its earnings release. Many of the key factors that have made it so choppy the last few years with robotaxi, margins, and growth are all turning in a positive direction, so a revaluation process higher with periods of consolidation along the way is what I expect.
VKTX recent positive news and conferences coming up from obesity week have boosted this name higher. Possible it stuffs into some key resistance points looking left but not one to fight if it grinds higher.
OKLO plan for two scenarios, either reject the recent highs and head lower or they start to base above highs and have the next leg.
DRUG liquidity trap on watch but taking a while. Lots of funds in this stock holding large pieces so either a plan to lock it up and take it higher or they use a headline to spike it and they dump into it.
MCD issue with people getting sick from the onions from one from one of its suppliers. Plan for two scenarios. If it’s an isolated problem and resolves then no big deal, but if any other ingredients have issues or if bad reports of more people getting sick surface then it could hit sales and it could move the stock lower. Chipotle CMG years ago had perpetual issues with people getting sick and it killed the stock for a long time before it was resolved.
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