$FB: Broken out of a pennant and had a healthy retracement/correction last week while maintaining bullishness. Entry on break of 319/320 with good volume/momentum will send this one flying quickly up to the 330's. We also saw lots of unusual options activity with multi-million dollar sweeps 1-2 weeks back betting on 330's for July for a swing trade. Setup is...
$TSM: Currently in a falling wedge pattern, demand zone at 103-109 has been key support for this name. Break above 114 with good volume/momentum will see this one move into the upper Fib extensions in the supply zone. Targets around 120-124 within the next 1-2 weeks. We are bullish on Semiconductors tactically with this inflationary climate. Setup is invalidated...
$PDD: Falling wedge pattern, this might take a little bit of time to marinade. We are tactically overweight on Chinese Tech as inflation is on the rise. China's economy is slated to rebound quickly and this stock is at a 40% discount from its highs! We think this is a high conviction name for recovery and have seen unusual options activity with this name the past...