Watchlist for 5/6/22
Today was a rough day. I cut 2 fingers at 5am PST on the lid of a can, and pretty much had blood gushing out of my middle finger, but my pinky finger was luckily bleeding a lot less. I wrapped it to the best of my ability, applying pressure so it would stop bleeding out since I needed to get to my stocks before the market opened. That was probably a sign I should’ve sold everything and sat on my hands (lol). It was a bloody day in the market, so today was the day to respect stop losses and only get into trades with the proper setups. I ended the day red even though I had a few good trades, but not enough to make up for the other swings that I stopped myself out on; but that’s part of it. Friday, we shall see what the market gives us. Futures are showing red right now, so only time will tell.
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.
Main Watch for 5/6/22
If the market is red again tomorrow, consider respecting your stop losses. Stopping out doesn’t mean you’re unable to re-enter; it’s you giving yourself the best setup while managing your risks, and maximizing profit potential. Waiting for confirmation is crucial once it hits the dip zones; I would never just jump in and buy. It’s important they hold at the dip zone levels. If it breaks below, I typically wait for it to reclaim that dip zone before scaling in.
BBIG hit a low of day (LOD) of $2.49 and high of day (HOD) after hours at $4.18 following the PR I’ve been anticipating on over the last 3 months, which is why I’ve mentioned to keep an eye out on the news. “Vinco Sets Record Date and Distribution Date for Planned Business Separation of Cryptyde. Each Vinco stockholder of record as of the close of business on May 18, 2022 will receive, on the distribution date, one share of Cryptyde common stock for every 10 shares of Vinco common stock held.” The share dividend is expected to be distributed to Vinco stockholders on or about May 27, 2022. You can view the official PR Release here. The next 2 weeks will have bullish momentum for BBIG.
Whenever a stock runs greater than 20%, I give two dip zones due to volatility. If there is a pullback, look for the 1st dip zone to be between $3.50-$3.76. If it breaks below the 1st dip zone, then watch for the 2nd dip zone $3.20-$3.37. We are holding above $3.50 which is key level for us to move back above $4. Once we consolidate and reclaim $4-$4.25 levels, watch for the move above $5-$6. This may run well above $10+ just like in September when we hit $12.49
I’ll give live alerts tomorrow for dip zones depending on how high this goes. If you’ve swung BBIG long with me in September, October, January, February, and March, you know how the next few weeks will go since we have the biggest catalyst. Short Interest is 11.31% of float as of 4/15/22, although I do believe it’s MUCH higher than what is being reported. BBIG is now ranking as #3 on Webull’s Ranking, and sentiment is bullish heading into May 18.
AMD hit a low of day (LOD) of $92.17 and high of day (HOD) premarket at $98.67. If there is a pullback, look for the dip zone to be in the $87-92 levels. Short Interest is 1.70% of float as of 4/15/22. Based on 44 Analysts, the higher end of the Price Targets is set at $200, lower end $97, with an average PT $137.59.
CYN hit a low of day (LOD) $3.10 premarket and high of day (HOD) $4.75. If there is a pullback tomorow, look for the dip zone to be in the $3.17-3.36 levels. Short Interest is 1.53% of float as of 4/15/22. Based on 1 Analyst, the PT is set at $13.
TSLA hit low of day (LOD) $857.70 and high of day (HOD) of $950.73. If there is a dip, watch for the next dip zone to be at $829-$857. It will need to reclaim $930 levels for the move back up.
5/5/22 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.
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.
HYMC hit high of day (HOD) $1.93 and faded throughout the day due to the entire market being red. It hit a low of day (LOD) $1.50 after hours. It was unable to reclaim $1.97-$2 levels for a bullish move upward.
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.
RVSN hit high of day (HOD) $2.23 premarket, fading along with the rest of the market, hitting a low of day (LOD) $1.61 intraday and broke below both dip zones I planned for. After it hit the bottom, it bounced back up, reclaiming VWAP, however, it was unable to reclaim $2.50 levels for a bullish move up. Tomorrow it will be under SSR.
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+.
OST hit high of day (HOD) $3.82 premarket, and fading along with the rest of the market, hitting low of day (LOD) $3.12 intraday and fell below the first dip zone I planned. I added at the bottom to swing because I still believe there’s upside potential. Tomorrow it will be under SSR.
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+.
STSS hit high of day (HOD) $1.67 premarket and faded with the rest of the market, hitting low of day (LOD) after hours (AH). It fell below both dip zones and unable to reclaim $2 levels for a bullish run upward.
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.
TSLA hit high of day $950.73 premarket, faded with the rest of the market, hitting low of day (LOD) $857.70 intraday and falling well below the dip zone I planned.
Others to Watch/Trending
Oil Stocks to Watch for a Reversal
- UA, UAA
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