Stock Market Recap 8/11 + Mid Week Recap
Hello everyone and welcome to another daily + mid week watchlist recap !
DAILY PLAYS
Didn't have to much action today in terms of day trades, We caught BA and HD swings from the day prior. Took a small scalp win on FB and TD, along with a small scalp loss on AAPL. Apart from that , the best setup came in the form of a TWLO short trade.
TWLO :
DAILY CHART UNTIL 8/11
As seen in the chart above , we were coming off a resistance rejection at 403. AFter which we bounced off 363 before starting to consolidate between 382 and 363 for a few trading days. The initial move before this consolidation was down , so we were looking for a continuation to the downside , to follow in with the "bear flag pattern". For a few trading days buyers were starting to hold higher at 389, but then we closed under that level yesterday , and opened today below that level as well. This level in itself didn't give me my entry opportunity but it began to show me the potential weakness forming for a short side trade.
5 MIN CHART 8/5
When we zoom into the intraday chart , we can see a continued lower hold after the initial morning rejection. This lower hold under vwap, and failure to get a significant bounce off 363 , began signaling weakness. As we based under vwap , a short entry could have been taken with stop at HOD. But we here always like to wait for confirmation to take trades. (Technically yes that lower base under vwap gave the initial sign of confirmation), but the real play took place once we broke 363. (First grey circle) we got a 5 minute break under the key 363 level , had a retarce , and continued holding under 363 , which add conviction to our short trade. Along with that it helped that vwap was down (down trend favored on day) , daly trend was down , and then we got the intraday break. Notice how all 3 factors where in our favor , and whit that was got a magnificent $10 flush . We took partial profits around 360 , and then held runners down towards 354-5.
https://www.truetradellc.com/post/market-watchlist-8-9-8-13
^^^ Check out the key levels if you haven't already in the post above ^^^
WATCHLIST OUTLOOK
1. MICROSOFT ($MSFT)
HOURLY UNTIL 8/11
Not much happening with this one this week. We opened over that 289.7 level , got a quick flush. Initially got a mediocre bounce off the 287.8 level, but then flushed. COuld take that Monday as a fake break into a rejection, which did hold true. Break under 287.8 ave the ideal short trade as the support was broken. But big picture 284 still holds.
➡️Plan for the rest of the week , can utilize the 290 and 284 levels still , buying the lower end , shorting the top end. Next time we get back towards 290 , we likely do get the upside breakout, so keep an eye out.
2. BOEING ($BA)
HOURLY UNTIL 8/11
The nice one for the week. We gapped down quickly to start the week , but recapture that 232 pretty quickly. A long trade could've been taken over 226 , we didn't get right to it , but a entry could've been initiated on an intraday reversal signal. If not , getting back over 232 gave an entry, and that entry followed the next day with a hold over the key level , giving us a nice double entry off the zone on 2 consecutive days. After that we just gradually pushed higher initially hitting 238 and then just falling shy of 240 today.
➡️➡️I would expect upside to continue for BA , it is coming into some important resistance around 240 or 244 , but until i see at least some hourly selling forming , keep looking for dips to stay long 👀.
3. DISNEY ($DIS)
HOURLY UNTIL 8/11
➡️Haven't traded this one this week , been pretty choppy for the most part. Had a hold over 177 today morning for a long trade. But I'll keep my eye out to see how we move after earnings for a potential trade attempt.
4. APPLE ($AAPL)
HOURLY UNTIL 8/11
Apple has maintained that 145.4 buy level very ll all eek. We got a move off the zon back towards 148 early morning on the 10th. But since then it just pulled back and began consolidating again.
➡️I would look to be a continued buyer off 145.5 , targeting a 148 break to push back towards those all time highs. Apple hasn't done much , mainly due to the lack of buying in the tech sector , but keep an eye out , it surely has one of the stronger bullish setups remaining.
5. SNOWFLAKE ($SNOW)
HOURLY UNTIL 8/11
Snow tried the breakout early in the week with a hold over 278 , but then failed the next day , and has struggled to get back over. We did re-visit the bottom end by zone around 270 , and started picking up bids again higher. Other than that just some ranged movement.
➡️ If we can recapture 278 , that can re-engage the breakout trade , and send up back towards 288. We have held the buy zone all week , now we just wait and see if the upside breakout formation can be re achieved.
If you don't know how to utilize the key levels presented this post below: https://www.truetradellc.com/post/market-outlook-3-15-3-17 ^^^here is a snippet of how the levels can be used ^^^
Check out past watchlist @ https://www.truetradellc.com/blog/categories/watchlists to see if any plays are still live or if the levels truly work 👀 ** THIS IS NOT FINANCIAL ADVICE** I can do this on and on for every stock , but the best way to get them live is by joining the chat ;) https://www.truetradellc.com/stock-signals-membership
Email: truetrade1313@gmail.com Instagram: https://www.instagram.com/truetrade_llc/?hl=en Website: https://www.truetradellc.com/ Twitter: https://twitter.com/TrueTradeLLC1