How to Trade Flag Patterns, Earnings Pullbacks, and Crypto Stocks in Today’s Market
Hey traders, Kunal from Bulls on Wall Street here! Today was another exciting day in the market, with tons of opportunities presenting themselves in various sectors. We had earnings pullbacks, flag patterns, and crypto stocks leading the charge. In this post, I’ll break down the key setups to watch for tomorrow, so let’s get into it!
Market Overview
The indexes had a bit of a gap-up today but faded towards the end of the session. Even though we saw a bit of a reversal, strong stocks continue to show great setups. This is still a selective market, so make sure you’re focusing on the best stocks with the strongest themes, like nuclear energy, crypto, and tech.
Key Stock Setups
- NCL (Norwegian Cruise Line): NCL had a strong breakout recently and is now flagging out around the 9 EMA. First pullbacks after a major breakout tend to be the most effective entries, so keep an eye on this one. We got a nice flag pattern on this!
- Pure Cycle Technologies (PCYO): This isn’t your typical spin class stock! PCYO is breaking out, and I’ve got an alert set at around $11.80 for a potential strong move. Watch for continuation in this pollution control stock.
- TSM (Taiwan Semiconductor): TSM reported solid earnings and gapped up to $212. If we get any weakness tomorrow, I’ll be looking for a test of the 9 EMA as an ideal entry point.
- Nvidia (NVDA): After its big push, NVDA had a rest day today, which is a bullish sign after such a strong move. It’s still on my watchlist for potential continuation tomorrow.
- Coinbase (COIN): Crypto looks ready to break out, and Coinbase is the leader of the sector. I’m waiting for a weak open and a retest of the 20-day moving average for an entry.
How to Trade These Setups
Whether you’re trading flag patterns, earnings pullbacks, or crypto names, it’s important to stay focused on the best themes in this market. Be selective and wait for the right entries!
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