Hey, Ross here:
Let’s start with another actionable trade idea – followed by a quick warning.
Chart of the Day
10x Genomics (TXG) is a biotech stock showing signs of a potential breakout move higher.
After a nasty Stage 4 decline that saw shares fall 88% from their peak, TXG has carved out a bottom and is attempting a new Stage 2 uptrend as seen in the weekly chart above.
A closer look at the daily chart highlights the recent action:
A long consolidation period with tightening price action formed a base, and the stock broke out on heavy volume on Friday, March 31st.
Like other growth names, the stock has been pulling back, giving traders a second chance at what could be a perfect entry on this stock.
The first breakout of a new Stage 2 uptrend is where the biggest gains are made. So timing this entry well could be a profitable endeavor.
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
Don’t let yourself be overly influenced by “Fed speak”.
Markets dropped yesterday after recently released minutes from the Fed’s March meeting revealed that it believes that the US will likely fall into a recession later this year.
Guess what? Analysts have been predicting a 2023 US recession since April of last year (just check out Fortune’s headline from April 2022). It’s nothing new.
If you let yourself be swayed by this kind of talk – you’re going to miss out on the best opportunities, period.
For instance, I just gave a select group of my students a chance to pocket a solid 27% gain in just over two weeks. That’s over 8 times the return of the S&P 500 in the same time period.
I didn’t spot this opportunity by listening to the analysts or the Fed.
I did it by looking for one specific indicator that most people have no clue to even look for…
And today at 12 p.m. Eastern, I’m going LIVE to break down exactly what this indicator is – and how you can use it in your own trading.
I’ll also share 3 stocks this same indicator is telling me to be bullish on right now.
This is going to be a MASSIVE session with thousands of people already registered. So please click here to save your seat – or we won’t be able to guarantee you’ll be able to get in the room.
See you soon.
Ross Givens
Editor, Stock Surge Daily
