The Nasdaq and tech stocks were under heavy sell pressure but did provide excellent, volatile, daytrading conditions and our team produced several excellent trade entries and alerts! It's all about knowing what to look for...
Market Heat Map from Monday 03/08/2021
Some nice setups and a few of the trades we took were $QQQ $GME $AMC and
$OPGN (congrats swing traders!)
Into Tuesday, 03/09/2021, our continuation scanner has picked up the following charts: $EXPR $ANCN $OPGN $CHS $YELL $MOXC $BSQA $RAVE $FNGO $ORTX $AMX $SALM $SLS $AMRX $CNSL $RWLK $ITI $RNWK $JAN
These are recommended to keep on a chart tomorrow. Over todays high/ah high, would be a possible entry with a 0.10c stop loss (for daytrades) and price targets to the upside using daily chart near term resistance levels.
We will be watching the overall $SPY $QQQ support and resistance levels as well. Remember to never force trades and always take profits when present! If $QQQ cracks todays low, tomorrow it may flush to retest last weeks' low $295.00; cracking that key pivot support would send us lower 292.50/290.00 PT. Regaining $300.00 pivot resistance level could give a small pop where shorts would most likely look to reload positions. Use caution buying on any market gap up - the opening 5-15 minutes are always most volatile! Let patterns develop and wait for proper setups! We teach this strategy and more in our chatroom daily! $GME - strong watch over TODAY's HIGH ON DAY!!! Can squeeze over $210.00 - price targets: $220, 225, 230, 250, 275, 300 *high risk daytrade only for options trading
Very strong daily chart - With market uncertainty continuing and downtrends short term - the 'stonks' tend to gain volume (as you see here 4 days in a row increasing daily volume). Tomorrow, over $210.00 we will be long and daytrading this to our price targets mentioned. GLTA
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