Watchlist for 5/5/22 & Long Swing Setups

Hope everyone made lots of money today! We’ve had amazing swings from last week including AMD, CYN, RDBX, ATER, OST, MDVL, DOGZ and AMZN. Swings since Monday that have paid off also include HYMC, FCEL, PIK, HCDI, RDBX, RVSN, and many more.

Major Events Today

Today, the FOMC meeting took place and the market reacted positively, with the S&P 500, DJIA, and NASDAQ flipping red to green. Federal Reserve issued the FOMC statement here. Plans for Reducing the Size of the Federal Reserve’s Balance Sheet can be viewed here.

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Manage Risks & Trading Plan

These are my trading plans, and many ask if I’m holding this or that. If it breaks any of the dip zones that I mention or if it breaks the trend line for a swing on the 5D/30D chart, I will respect my rules and I will respect my stop loss and wait for the setup to re-enter. Never bag hold, never average down on a loser unless you’re confident it will reverse, and never turn a day trade into a swing if you do not have a set plan. For those under PDT, be careful with setting up swings too early in the day; I prefer waiting until after lunch (EST) to set my swings up (unless it hit my perfect dip zone). Always make sure you have a day trade available in case you need to exit and reposition. It’s okay to be wrong, but it’s not okay to stay wrong. Hope doesn’t make us money; proper risk management does.

Many of these are great long term plays if one was to load up on red days while respecting the trend line for setting up swings. There’s nothing wrong with buying on green days if buying the BIG pullbacks. Best way to get burned is to chase while they’re ripping upward.

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Main Watch for 5/5/22

HYMC

HYMC hit low of day (LOD) $1.30 intraday and high of day (HOD) $1.88 after hours (AH). View earnings here. It needs to reclaim $1.97-$2 levels for a bullish move upward. If there is a pullback, look for the first dip zone to be at $$1.59-$1.69 and the second dip zone $1.41-$1.50. Short Interest is reported as 4.95% of float as of 4/15/22. Based on 2 Analysts, the Price Target is set at $13.

RVSN

RVSN hit low of day (LOD) $1.74 premarket and high of day (HOD) $2.55 intraday. It needs to reclaim $2.50 levels for a bullish and parabolic move upward into the $3-$3.50 range to break new all time highs. If there is a pullback, look for the first dip zone to be at $2.16-$2.29 and the second dip zone $1.94-$2.15. Analyst Upgrade sets Price Target at $7.

OST

OST, a new IPO, priced at $4 after debuting, hit low of day (LOD) $3.71. I took a position towards the end of the day at $3.80 to swing for tomorrow under SSR for tomorrow. This is a swing setup I mentioned to watch for a reversal last Friday. If there is another pullback, the next dip zone may be at $3.42-$3.58. Once we reclaim $4 levels, watch for the move back above $4.50-$5.00+.

STSS

STSS hit low of day (LOD) $1.36 and high of day of $1.94. If there is another pullback from these levels, the first dip zone may be at $1.64-$1.74 and if it breaks below that, the second dip zone may be at $1.41-$1.49. Once we reclaim $2 levels, watch for the move above $2.30-$2.70 and then the next leg up will be $3.00+.

TSLA

TSLA hit low of day (LOD) $885.28 and high of day (HOD) of $955.50. If there is a dip, watch for the next dip zone to be at $904-$928. Watch for it to reclaim $1000 levels.

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5/4/22 Setups Pre- and Post- Reviews

I’ll be posting pre- and post- charts to see if our plan worked. These will be used as archives so I can refer back to the chart year over year. This will also be used as learning tools to see where we went wrong so we can figure out the best way to maximize profits and manage risks. If none of these have moved yet, watch for the move to come in the coming weeks.

AMD

AMD reported strong earnings today after hours. See full report here. For those interested in investing long term, consider AMD in the coming weeks if you didn’t buy in last week when I mentioned to long it. You can also swing long, and play the momentum as they have many catalysts and strong guidance. It hit a low of day (LOD) of $89.01 and high of day (HOD) at $98.79 after hours (AH). The next leg up will be to reclaim $100-$115 levels. We will be looking for $150-$200 levels over the next few months. If there is a pullback, look for the dip zone to be in the $91-94 levels. Short Interest is 11.31% of float as of 4/15/22. Based on 44 Analysts, the higher end of the Price Targets is set at $200, lower end $100, with an average PT $145.88. AMD is currently No. 6 on the Webull Popularity List, so I expect great volatility with this one over the coming weeks.

AMD hit low of day (LOD) $91.70 (Check) intraday and hit the dip zone I planned, and hit high of day (HOD) of $99.69.

LCID

LCID hit low of day (LOD) $18.80 pre-market and high of day (HOD) $19.68. It needs to reclaim $21.87 levels for a bullish move upward. Watch for a dip in the $18.90-19.02 range. They have earnings on Thursday, 5/5/22 so I’m expecting volatility heading into Thursday. Short Interest is 6.98% of float as of 4/15/22. Based on 7 Analysts, the higher end of the Price Targets is set at $50, lower end at $12, with an average PT of $38.

LCID hit low of day (LOD) $18.71 (Check) intraday and was within $0.19 from the dip zone I planned, and hit high of day (HOD) of $20.39.

OST

OST, a new IPO, priced at $4 after debuting, hit low of day (LOD) $2.90 premarket and high of day (HOD) $5.20 after hours today. This is a swing setup I mentioned to watch for a reversal last Friday. Today it finally made the move back up. The dip zone I alerted during after hours (AH) was for $4.50-$4.68. IF there is another pullback, the next dip zone may be at $4.27-$4.49. If it hits $4.27, that would trigger SSR for the day and the follow day, Thursday. I’m looking for a day 2 run, with the next leg back above $5 levels. Once we consolidate above $5, watch for the move back above $6-$7+.

OST hit low of day (LOD) $3.71 (X) and broke below the dip zone I planned, with selloffs throughout the day. I took a position towards the end of the day at $3.80 to swing for tomorrow under SSR.

RVSN

RVSN hit high of day (HOD) $1.86 after hours (AH) after hitting its intraday low of $1.22. It would need to reclaim $2.11 levels for a bullish and parabolic move back above $3s, with the possibility of breaking new all time highs (ATH) over the new few weeks. If there is a pullback, dip zone will be $1.48-$1.67. Analyst Upgrade sets Price Target at $7.

RVSN hit low of day (LOD) $1.74 (Check) during premarket hours and was within $0.07 from the dip zone I planned, and hit high of day (HOD) of $2.55.

HCDI

HCDI hit high of day of $4.14 premarket. I alerted this one on 5/2/22 to swing long, buying up big pullbacks. I re-added back to continue my swing over the next few weeks heading into earnings on 5/12/22. Short interest is 20.40% of float as of 4/15/22. Analyst Price Targets sits at $8. SSR will be on 5/4/22, so it will need to reclaim $3 levels, consolidate, and then move back above $3.50-$4.00 levels for the next leg up. The week of earnings, I’ll be watching for the move above $6-$7+ levels.

HCDI was an overnight swing from the previous day’s lows of $2.55, and it hit high of day during premarket hours at $3.20 (check). It was unable to consolidate and form higher lows, therefore breaking support intraday, hitting low of day (LOD) $2.62. I re-added to continue swinging.

RDBX

RDBX hit high of day (HOD) premarket (PM) $8.42 and low of day (LOD) after hours (AH) $6.09. Dip zone may be $5.95-$6.05. I added after hours for a swing since it will be under SSR. I’ll be looking for it to reclaim $7 levels, consolidate and then $8-$8.50 levels. Short Interest is 11.31% of float as of 4/15/22. Based on 4 Analysts, the higher end of the Price Targets is set at $10. RDBX is currently No. 3 on the Webull Popularity List, so I expect great volatility with this one over the coming weeks.

RDBX hit low of day (LOD) $6.02 (Check) during premarket hours and within the dip zone I planned, and hit high of day (HOD) of $7.75.

NVDA

NVDA hit low of day (LOD) $191.33, hitting high of day (HOD) $201.67 after hours. Dip zone levels may be in the $193-$198 range. If it breaks support levels, respect your stop loss. Watch for the move into the $205-$210 range. Based on 48 Analysts, the higher end of the Price Targets is set at $400, lower end $160, with an average PT $329. NVDA is currently No. 30 on the Webull Popularity List, so I expect this to move up as we get closer to their earnings date towards the end of the month on 5/25/22.

NVDA hit low of day (LOD) $187.51 (X) intraday, falling below my dip zone by $5.49. It reclaimed the dip zone level, and hit high of day (HOD) of $204.

FTRP

FTRP hit low of day (LOD) $0.99, after hitting high of day (HOD) $1.68 premarket hours. Dip zone levels may be in the $0.99-$1.05 range. If it breaks support levels, respect your stop loss. Watch for the move into the $1.50-$1.75 range. If those levels are reclaimed, we can close the gap above $3-$4 over the following weeks. Based on 5 Analysts, the higher end of the Price Targets is set at $24.96, lower end $4.99, with an average PT $12.78.

FTRP hit low of day (LOD) $0.96 (X) intraday, falling below my dip zone by $0.03. It did not make any significant moves, so will continue to watch for volume to come over the next few weeks.

SBFM

SBFM hit high of day (HOD) $2.88 after hitting low of day (LOD) premarket. At these levels, it makes more sense to swing long or invest long term with everything in their pipeline as I’ve mentioned previously. In the coming weeks, watch for it to reclaim $3.50-$4 levels.

SBFM hit high of day (HOD) $2.87 during premarket hours and low of day (LOD) $2.51 during the morning flush, but did not make any significant moves, so will continue to watch for volume to come over the next few weeks.

Others to Watch/Trending

Watch these for the move up as well.

1. TSLA (green)
2. FCEL (green)
3. PIK (X)
4. BBI (green)
5. SQL (X)
6. BRQS (green)
7. BOLT (green)
8. AMC (green)
9. GME (green)
10. VERU (green)
11. NKTX (green)
12. LGVN (X)
13. ITP (Neutral)
14. DOGZ (green)
15. TKLF (X)
16. SNDL (green)
17. MULN (X)
18. HYMC (green)
19. GFAI (green)
20. NILE (X/Neutral)

Oil Stocks to Watch for a Reversal

1. INDO (green)
2. HUSA (green)
3. IMPP (green)
4. ENSV (green)
5. CEI (green)
6. USWS (green)
7. MXC (green)
8. MARPS (green)

Earnings

5/4/22

1. MRNA (green)
2. CVS (green)
3. MAR (green)
4. UBER (X)
5. ETSY(X)

5/5/22

1. SHOP (green)
2. CROX (green)
3. PENN (green)
4. W (green)
5. FUBO (green)
6. OPEN (green)
7. NET (green)
8. WISH (green)
9. DASH (green)

5/6/22

1. DKNG (green)
2. UA, UAA (green)
3. CI (green)
4. GT (green)
5. CNK (X)

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-Cheers

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