Every time the market dips it turns around and grinds higher. We saw the same pattern on Monday as the bullish market broke through all-time highs and pushed higher. Be patient, be smart, and size down now that the market is in an extended move. Wait to enter key setups until the market can reset itself, but also watch to see if it can continue higher.
Here is our focused list:
ROKU — Retreated after earnings, sitting in a 4-hour squeeze on Monday. Technology is spiking higher, but ROKU is still lagging and hasn’t made a move. Use the 4-hour squeeze as a compass. Since tech is extended, be patient for the move to take longer. Watch for ROKU to keep holding the $352 level toward the upside zone at $367. Be patient for it to break the 200 simple moving average (SMA) to boost higher.
MRNA — Down due to recent news, so keep a close eye for a move in either direction. If it breaks the key zone from $363 to $369, it could drop to $350 for a good short opportunity. If it keeps holding the key zone, we’ll look for a push up to the $390 to $400 range.
TSLA — Showing strength with the daily squeeze starting to fire on Monday and a weekly squeeze trying to release. Gapped out of the weekly wedge so it could explode higher. TSLA hit $730 on Monday and as long as it is above that, there is a strong chance that it will push higher to $753 (and up to $780).
GME — Starting to set up, broke the downside trend and 4-hour squeeze on Monday. If it can get through $217 to $227, GME could start to explode. Could be a great setup to allocate some lotto risk.
MSTR — Heavily relies on what BTC is doing, which is turning around after a pullback. If BTC starts to rally and retests highs, MSTR could also rally. MSTR is currently sitting in a wedge at the daily mean at $695, looking to pop and explode higher. If it can break through the wedge and holds $690, look for a push through $750 up to $800.
Stay Focused!