Huge Profits from Quality Entries
A look at using AVWAP to enter a trade, plus big gains with MARA!
This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.
It is time to recap the trading week!
I hope you had a great five days with the market. Hopefully they were profitable.
The portfolio had a strong week, up another 5.76% for a total return this year of 35.29%.
I was very active, as usual.
First, taking profits again with MARA. This time taking action near the 16.82 resistance level, closing out 60% of the remaining position for gains of +43.88%. This was after taking initial profits near 15.36 resistance for +33% gains.
The entry for this trade was what made it so profitable. Let's break it down.
First, shares found support at 7.11 and started making higher highs and higher lows in October and through November. This showed strength and put MARA back in a trading range it enjoyed earlier this year with the top-level resistance at 10.64.
This was a key level. Just above 10.64 was the anchored VWAP from the July highs. The break of AVWAP near 11.20 just after the break of resistance was the signal to get in.
A breakthrough AVWAP is a favorite signal of mine, especially when it is with strong volume which is exactly what we got with MARA.
I'm letting the remaining shares run. Bitcoin continues to show strength which could take MARA even higher. Given the move in Bitcoin, MARA should have moved even further and faster.
If shares do pull pack, $15 is my where my stop loss is at.
DKNG was another great trade with a quality entry. Shares were initially bought at $26 and made their way to $40 before cooling off.
We wanted to see $35 hold up as support and we got that. I am looking for another attempt at $40 and then we will see how it looks.
The Growth Portfolio also added new positions.
ANET, WDAY, RMBS, and SPSC are all new holdings that I am really excited about. I'll break each one down for upgraded subscribers to the Growth Stocks Swing Trading portfolio this weekend in a follow up email. Stay tuned for that!
If you are interested in additional details, more trade ideas, and would like to keep up with every trade live as they happen - you can have it all!
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And for everyone else, these weekly recaps will always be free, I hope you enjoy them as well and are able to learn from my wins and losses.
I appreciate you and wish you a fantastic week ahead.
-Trader Nate
Savvy Trader Portfolio
Expect a lot of action and communication if you subscribe to this portfolio!
Turning thousands into millions trading growth stocks across all sectors, with a heavy lean towards Semiconductors, Technology, and Energy.
This is an actively traded portfolio! Here are my current holdings with their gains for the year.
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Thank you for reading and let me know if there is a stock you would like me to cover or any trading topics you want to learn more about.
-Nate