Built by Traders, for Traders

Ross Givens

Stock Trader & Educator

Watchlist Update: Looking for Low Risk Entry Points

Welcome to day 312 of the stock market bloodbath.

After peaking last November, stocks have been heading down for all of 2022.

Weekly Chart of Invesco QQQ Trust (QQQ) – Source: TradingView

Every time the doors of hope and optimism are opened, fear and selling slam them shut.

The Nasdaq Composite is now down 33% from its highs, wiping out a third of the value of all public companies.

Even worse, the heightened volatility surrounding these moves has created frustrating conditions for both buyers and short sellers.

Sell The Rip

Now, I told you last week how I was looking for the market to bounce from oversold conditions and then use that strength to sell stocks short against resistance.

That is still my plan of action.

If stocks continue to sell off rapidly, it is best not to chase the action.

Demand good entry points… Demand low-risk setups…

And if they’re not there, keep your powder dry and save your dollars for a better opportunity.

Remember… Cash is a position.

Knowing when not to trade is just as important as knowing when to.

And if you’re not getting odds on your money, why risk it at all?

With all that in mind, here are the setups I am currently watching and where I want to get short…

Lantheus Holdings, Inc. (Short Idea)

We added Lantheus Holdings, Inc. (LNTH) to the Watchlist last week, expecting a bounce higher.

It has begun to do that, but it’s not high enough yet.

Daily Chart of Lantheus Holdings, Inc. (LNTH) – Source: TradingView

After 7 days in a row of lower lows and lower highs, this stock is dead in the water, and it’s got lots of room to fall.

I would consider selling it short on a bounce up into its 21- and 50-day moving averages.

Array Technologies, Inc. (Short Idea)

Array Technologies, Inc. (ARRY) fell 33$ since August and now trades beneath its 50-day moving average.

Daily Chart of Array Technologies, Inc. (ARRY) – Source: TradingView

I will consider getting short ARRY on a bounce up to the $19 area.

Plug Power Inc. (Short Idea)

What was support becomes resistance. And for Plug Power Inc. (PLUG), that is the $25 level.

Daily Chart of Plug Power Inc. (PLUG)– Source: TradingView

A bounce up to that price would give an ideal short entry against previous support as well as the stock’s 21- and 50-day moving averages.

Fly Under the Radar

Institutional investors like pension funds, mutual funds, hedge funds and other large players make massive institutional buys that fly under the radar of most individual investors.

But if you know how to spot those buys in real time, you can potentially follow the big money to big gains.

This is what I focus on inside my premium Stealth Trades research service.

Look, if you haven’t been making money in these markets, it’s time to try something new…

Take a few moments to click here and watch my brand-new Stealth Trades video bulletin…

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

Brand New Strategy for Profiting from AI Stocks

There’s a brand-new strategy in 2024 for going after big profits in AI stocks. It has nothing to do with Nvidia, Microsoft, Meta – or any of the big AI stocks the media can’t stop talking about.

It has to do with a fast-moving “backdoor” that has opened in the AI market... A backdoor that could send a very special class of AI stocks rocketing into the stratosphere.

Leave a Reply

Your email address will not be published. Required fields are marked *

GET THE TOP 3 AI STOCKS
FOR THE AI REVOLUTION NOW

High profit potential… strong insider activity… cutting-edge AI technology…

These are the stocks every intelligent trader and investor NEEDS to know about.

Subscribe below to get your FREE report on these stocks – plus a free subscription to Stock Surge Daily, a newsletter that will supercharge your trading potential by handing you market insights you can’t find anywhere else