Josh Scan For 5/31/23

by | May 30, 2023

NVDA – looking for 1st red day setup, looking for stock to open red and break opening range lows, would use 405-408 guide for your risk , 1st cover 388 spot but think we can retest that earnings gap

AMD- looking vs 126.70-127.20 for a short entry same thoughts as above think we attempt prior breakout levels in this case 122-121 – you want the SOXL/ SMH red for these trades to work better would use these charts as proxys

PLTR- im waiting till later in week see how it acts around 15 big level from April 22′

AI- this can be 45-50-55 i am not looking to trade this tomorrow but more so using as a proxy for how momentum is trading, earnings tomorrow post close, anything can happen could be an unwind before the number I am not here to guess

CVNA- watching trend join with if they come again for high short interest names,

UPST- same story as above if weak open vs 28-27.50 holds support this can be 30-33++ fast

SMCI- using 242 area which is a todays high for a look short, key thing here you want to see this name red on day and then risk hods, get some confirmation before guess the top, this is straight up 4 days in row with zero pullback

CXAI- small cap tiny float looking for higher Relative volume and looking vs 10 for a move higher, liquidity trap name volume went to near zero after initial run up

BFRG- another AI theme play recent ipo, looking vs 5.10 for another move higher and higher volume to come in,once again these are trading vehicles with AI, the head of the group

 

 

 

 

1 Comment

  1. you want the SOXL/ SMH red for these trades to work better would use these charts as proxys – good tip

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