Let’s discuss squeeze setups we’re watching and prep for the last week of the year before 2022. The market chopped into the holidays due to the market events over the last few weeks.
We’ve been focusing on the 2-day squeeze, and on Monday the market put in a reversal for a strong green day.
Regardless of how you trade, we want to focus on the big picture and focus on the best setups to trade in the market.
Here is our focused list:
GOOGL — Printing stacked squeezes on the daily, 2-day, and weekly charts. GOOGL could revert back to the $2,904 or $2,925 levels. Once it squeezes, it could push to $2,982, $3,000, and potentially to the all-time high at $3,019.
NVDA — Ripped through the trendline near $296 on Monday. If NVDA can squeeze and break through $313, look for the $320 to $325 range. NVDA could drop to $305 or to the trendline near $296 for a great potential pullback..
SHOP — Look for a pullback to its 200-day simple moving average at $1,380. SHOP will break above the Ichimoku Cloud if it can push through $1,400. If it can hold the $1,380 to $1,370 range, we’ll look for a dip buy toward its previous highs and potentially to $1,520.
Stay Focused!