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The market is looking zesty, and it’s time to dive into the best setups for the week ahead. After a strong and sneaky close on Friday, there are plenty of opportunities brewing, and I’ve got the game plan to help you navigate the action. In this post, we’ll break down the key stocks to watch, the technical patterns setting up, and how to position yourself to capitalize on the market’s next move.
Key Market Overview
The market had several chances to break down last week but showed incredible resilience. We’re seeing bullish setups across multiple indices, including the QQQ and SPY, with high potential for a continuation of the upward trend. A weak open could set the stage for a perfect red-to-green move, so be ready to act fast when the market opens.
Top Stocks to Watch
Here are the stocks that are setting up for potential breakouts and strong moves this week:
- Netflix (NFLX): Netflix is showing a classic high tight flag pattern, with the 9 EMA curling right underneath. If it breaks through resistance, it’s sitting in a prime position to move higher with minimal risk. This one is at the top of our list!
- Adobe (ADBE): Adobe continues to build momentum heading into earnings. It’s breaking out of a solid base and has the potential for a strong run-up into its report.
- Qualcomm (QCOM): With resistance at $176, Qualcomm is poised for a move up to its 50-day moving average. If it clears that level, the upside potential is significant.
- Roku (ROKU): Showing signs of strength with a reversal candle and a flag pattern setting up. A move above resistance could trigger a quick rally.
- DocuSign (DOCU): Coiled up and ready to break out, DocuSign has room to run up to $64 if it clears its current resistance levels. The setup is tight and primed for action.
Game Plan: How to Trade This Market
- Look for Weak Opens: A weak open can set up the perfect opportunity for red-to-green moves, especially in high-potential tech names. Stay nimble and be ready to jump in when the market shows strength.
- Focus on Key Setups: Stick to the names showing the best technical patterns, like flags and breakout setups. These have the potential to provide the cleanest entries and most explosive moves.
- Be Patient: Don’t chase. Wait for the right setups to develop, and use tight stops to manage your risk.
Conclusion
The market is set up for a strong week, with numerous high-potential setups across various sectors. Stick to the plan, focus on the best technical setups, and be ready to act quickly when the market opens. For those looking to refine their trading skills, don’t miss out on our Labor Day Sale for exclusive deals on our trading programs.
Watch the full video here to see the complete breakdown of our watch list and game plan, and get ready to make the most of this market!
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