Trading Watch List 03.30.2020 | Bulls on Wall Street

Trading Watch List 03.30.2020

Late day profit taking and repositioning after “V” shaped oversold relief bounce. The easiest part of the bounce is done. Now comes the hard part, does the market bases here for higher into next resistance? Does it form a bear flag, double bottom or “W” shape bottom ? or breaks down again following the bearish trend?
We don’t know given the Wild card , reaction to biggest stimulus package ever and news flows. But trend remains down below all the moving averages and bear market play book in effect. Again, just like topping, bottoming is a process too with higher high and higher lows.We will continue to trade short term price action via both short and long. SPY needs hold 8 EMA followed by  246/ 240 area and build. A break below might test or violate the recent low. On the upside 270 area still a huge resistance.

Business as usual for active day traders, buy ETF’s at intra day hard selloff for scalp, red to green ,green to red,sell/short the rips with defined risk/reward in mind.

 

 

6 Seats Left in Our Next Live Trading Bootcamp!

Our next Live Trading Bootcamp is around the corner! Learn the trading strategies we have been using for the past two decades. Only 6 seats left, and space will fill up fast!

Click here to Save Your Seat for Our Next Trading Bootcamp!

Follow me on Twitter for real time trading setups@szaman and on StockTwits @szaman

Get started on the right path to trading success. Get access to our accelerated day or swing trading course with over 20 hours of content, access to our trading chatroom, live market commentary,  and much more. Learn what it takes to succeed in the best profession in the world.

Sign up for our Day Trading Membership by clicking here       Sign up for our Swing Trading Membership by clicking here

Here is the watch list and game plan:

AMD 50 MA is clean resistance for now. See which way it decides to break
GSX Remains a leader stock. Watching 43.80 area for base breakout.
PTON Watching for this wedge breakout to 28.
FRO Watching back over 9.80.
ENPH See if 30 area hold else has a gap to fill.
UVXY Volatility ETF. Tight wedge here, see which way it breaks.
ZM Leader stock, breaking out of another wedge. Tough to day trade due to spread but long term trend is still great.
SPCE 18.39 resistance, 15 needs to hold else has a gap to fill.

 

 

Follow me on Twitter for real time trading setups@szaman and on StockTwits @szaman

 

6 Seats Left in Our Next Live Trading Bootcamp!

Our next Live Trading Bootcamp is around the corner! Only 6 seats left, and space will fill up fast! Learn the trading strategies we have been using for the past two decades.

Click here to Save Your Seat for Our Next Trading Bootcamp!