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Followthetrend

MSFT March 15, 24: A Failed BreakoutOn March 12, 24, I wrote about NASDAQ:MSFT as it crossed the trendline with higher than average volume, which provides a buying opportunity. Later, on March 14, 24, the stock again broke out into the new all-time high, which provided an additional buy point. You can see these 2 posts below in the related idea section. However today NASDAQ:MSFT , although still looking good, moved down the previous resistance with very big volume which showed that the breakout on March 14, 24 was failed. I bought the stock on March 12. I also bought some on March 14. But as the breakout failed I sold what I have bought on March 14. I am ready to enter again if the stock move up to new all time high again. What do you think about NASDAQ:MSFT Please share your idea. Thank you
NASDAQ:MSFTLong
by longsonvn
SMCI March 29, 2024: A Head & Shoulder FormingNASDAQ:SMCI is a clear leader during this bull market. However, after a 260% run-up from a previous buy point as shown on the chart, the stock is struggling to move up further. Now it might slowly form a Head & Shoulders Pattern, and a breakdown through the neckline would signal a sell. Interestingly, the neckline is right near the 50-day moving average (blue line), therefore a breakdown there will be an even stronger sell signal.
NASDAQ:SMCI
by longsonvn
CELH March 27, 24: A Sell SignalWhile trading, I usually use MA-20 as a sell signal for stocks which already started running from a long base. It doesn't mean that the stock will go down further. When I sell a stock, I have absolutely no idea about what it will do after. It may indeed goes down further, or it may consolidates somewhere forming a new base. NASDAQ:CELH broke out of a long forming base on Feb 29 after earnings. That was a buy signal. After a month running up from a buy point the stock was sold down on higher than average volume today, crossing down its MA-21 and closed at the lowest. That is, at least for me, a sell signal. The longer-term trend? Still uptrend! I am looking for opportunities to enter it again.
NASDAQ:CELHLong
by longsonvn
SNOW March 24: Some Lessons LearnedNYSE:SNOW was one of a very good acting stocks from the low of November 23, at around $145, it increased to $236 on Feb 28, 24. A nearly 60% run. Its key moving averages (MA50/150/200) had been acting very well. On Feb 29, 24, NYSE:SNOW broke down hard violating its MA-50 on huge volume, after earnings. The big gap down of -18% made it looks like a bargain. However, in the stock market, cheap is not equivalent to a good buy. Even if we bought it on the low of that day, at the time of this writing (March 24) the stock went down another 12%. Never bottom fishing. Focus on the strongest stocks. Trade only the stocks which are above its rising MA-50/150/200 Scale down before earnings is a good idea.
NYSE:SNOWLong
by longsonvn
AAPL March 20, 24: The Come Back?We have written 2-3 posts about NASDAQ:AAPL to find entry, you can see them in the related ideas section. As the stock was (and still is) trading below its key moving averages: MA-50, 150, 200, we expected the stock to go down further from the price range $168 - $169. However it did not happen like we expected. On March 20, NASDAQ:AAPL showed a strong session, though volume did not pick up yet. The stock closed at high, crossed above the resistance AND its moving average MA-20. Therefore we started to enter the stock again here around the close.
NASDAQ:AAPLLong
by longsonvn
4
AAPL March 14, 24: A Comback JourneySince July, 2023 NASDAQ:AAPL has been a laggard during a huge uptrend powered by developments in AI. It definitely was not a place to put money in, at least for trend-following traders. Currently NASDAQ:AAPL form what is called dead-cross, with its MA-50 crossing down MA-200. I think, the stock might goes down further from here, although I never short any stocks. What I am doing now is follow the strongest stocks at their new high, those are outperforming the overall market. Regarding NASDAQ:AAPL I am definitely keep an eye on this stock to participate in its comeback journey. The stock is trading below all its key moving averages MA-50/150/200 right now. A move crossing up the lowest of these MA will be my first entry point.
NASDAQ:AAPLLong
by longsonvn