The Weekly Selection: 11/20/22
Volume 014
Introduction:
What’s up investors,
Little bit late on the selection this week, but with good reason. This weekend I spent at my family farm, disconnected from work, which sometimes feels like it encroaches on all my time. Here’s a photo:
The week behind us was a solid one, where myself and my trading partner David were able to keep up solid trading through tough action. Below is the SPY 0.00%↑ chart, showing quite a bit of life from a few weeks ago. With Midterms, Opex, and CPI behind us, It seems the door is now open for a larger move out of the range weve traded for a while.
As you can see, were approaching that trend we’ve not come in contact with 3 times during this downtrend. I’m expecting this to continue to serve as such until we get a full week close above.
Quote of the week:
“The biggest risk of all is not taking one”
- Mellody Hobson
This quotes speaks true in recent market action. Even though the price action sucks, its still wise to be investing, learning and trying. The information collected will ultimately serve a bigger purpose over the course of our journeys.
Past Performance:
Below is the individual stock performance from last week:
The data is a bit skewed: SGML 0.00%↑ and CAT 0.00%↑ were both indicated as shorts. So we actually had quite a respectable week of trades.
Charts:
CPRX 0.00%↑ up first. Love the look of this, almost has a cup and handle look to it, with a strong handle.
ENPH 0.00%↑ loving this setup again. Definitely one of my favorites to trade recently.
CLFD 0.00%↑ is a riskier trade, but one that I think has some room over the downtrend signified above.
GFS 0.00%↑ is an old friend of the watchlist. Appears to be setting back up for another run.
CELH 0.00%↑ is another watchlist favorite. Love this cup and handle look.
PSTG 0.00%↑ is in one of my favorite setups right now. Consolidation over may/june lows is signifying relative strength in this market. Other examples are FOUR 0.00%↑ and CROX 0.00%↑
RYTM 0.00%↑ nearly faked me out last week. Looks good above the pivot.
Thats all for this week guys!
I know this one was a bit shorter, and ill make it up by dropping the DCA education piece sometime this week.
If you made it to the end, Feel free to subscribe, and share with a friend!
Tanner