Trade of the Week
ETF Sector Corner: Consumer Discretionary Group Breaking Out into Rate Cutting Cycle
Consumer Discretionary Select Sector SPDR Fund (XLY) – The ETF offers exposure to the consumer discretionary sector, making it an appealing option for investors looking to implement a sector rotation strategy or tilt exposure towards corners of the U.S. market that...
Bull Put Spreads in Software Growth Name Increasing AI Ambitions
Workday (WDAY) has now pulled back slowly to its 21-day EMA support at 250 and forming a bullish flag after the large earnings gap up last month and heads into the company’s Analyst Day this week on Tuesday. WDAY is also a likely earnings drift name after reporting a...
EV Leader Sets up Quick Breakout Trade with Bullish Gamma
Tesla (TSLA) shares are in a tight bull flag and sustaining recent relative strength off the August lows now closing above monthly value of 225 and a top bullish gamma name for this weeks large September expiration. TSLA has a open gap just above here that can see the...
ETF Sector Corner: Diversified Value Focused Fund Showing Relative Strength
Vanguard Value ETF (VTV) – This ETF is linked to the MSCI US Prime Market Value Index, which offers exposure to large-cap companies that exhibit value characteristics within the U.S. equity market. Investors with a longer-term horizon should consider the importance of...
Bull Put Spreads in Ecommerce Leader Pulling Back to Support After Strong Report
Shopify (SHOP) has now pulled back to the top of its 2023 yearly value area support near 65-66 with the market dip and lines up with a confluence of levels nearby as well. The 55- and 200-week MA’s at these levels with also anchored VWAP off the August lows right here...
Weekly Option Trade Setup in Fast Casual Food Growth Name
Cava Group (CAVA) is holding up realtively well in a sloppy market after it had blowout strong earnings a few weeks ago and is a earnings drift candidate as long as can hold above its trend at the 8 EMA it can push back over monthly value and retest the 122-125 zone....
Bull Put Spreads in Payments Name Forming Key Long-Term Base
Block (SQ) has now started to base near long term support at the anchored POC since 2020 Covid lows which comes in at 65. SQ has spent the past 18 months forming a long-inverted head and shoulders bottom pattern and could start to push higher similar to peers like...
Healthcare Name Coiled for Move Higher into Investor Day
Danaher (DHR) shares are coiled in a tight bull flag above all key moving averages as the healthcare name sees a bullish MACD cross with its Investor Day meeting this week on Thursday so nice potential in a name that normally would not look to play short term but it...
ETF Sector Corner: Infrastructure Group Build Higher Floor for Breakout
Global X US Infrastructure Development ETF (PAVE) – This ETF tracks a market-cap-weighted index of US-listed companies that derive the majority of their revenue from or have a stated business purpose related to infrastructure development. PAVE`s definition of...
Bull Put Spreads in Fast Casual Leader Basing at Long Term Support
Chipotle Mexican Grill (CMG) has now started to base near long term support of its one year anchored VWAP and value area point of control near 52 after correcting from highs after the split. CMG has formed a solid double bottom low at 48 earlier this month after it...