Hey, Ross here:
And let’s start off Wednesday with a trade idea that’s already bearing fruit.
Chart of the Day
Micron (MU) is a semiconductor stock riding some of the momentum from last week’s earnings beat at Nvidia.
Notice the textbook breakout pattern that has formed over the last three months – a series of shallowing retracements with resistance at $64.
The 200-day moving average is finally turning up and other MA’s are properly stacked and trending higher.
This is the first breakout into a new Stage 2 uptrend which is exactly where I like to buy. Look to build a position in the mid $60s if possible.
The trade sours if it closes below its 50-day moving average (red line on chart) which is currently around $62 and rising.
P.S. Would you like special trade prospects and potential market moves sent directly to your phone? Text the word ross to 74121.
Insight of the Day
There’s still time to get aggressive before the debt ceiling deal is confirmed.
Yes, we’re closer than ever to a debt ceiling deal.
But markets are still jittery – meaning the big “debt ceiling opportunity” I talked about last week is still there.
Once the debt ceiling deal is concluded, I expect markets to lift off.
You want to get in on high-potential setups before that happens – because that’s how you get the fastest and juiciest gains
And right now, you can use my time-tested system for spotting these opportunities for just 99 cents as part of our extended Memorial Day special.
We’re taking this deal off the table soon…So make sure you click here to take advantage of it while you still can.
Embrace the surge,
Editor, Stock Surge Daily