Trade Ideas for March! Trading HOOD & DIS
The portfolio is set up for a bullish start. The charts are telling us everything.
Yesterday I posted about the potential for a bullish start to the month of March. Be sure to check it out if you missed it.
I broke down charts for SPY, QQQ, SMH, and XLF. The signs are all there.
Today we are looking at the portfolio and two new trade ideas I’m considering. The first is HOOD off a retest and the second is DIS for a wedge break.
First, let’s get to some trading education by taking a look at the current holdings, starting with RKT.
There is a lot to catch up on!
RKT
There is a lot to like about this chart. Let’s break it down.
First, higher highs and higher lows. You’ll hear me point this out when I’m bullish.
Second, the candles are above the $13 resistance level after giving it a solid retest. They look ready to march higher in March!
The long lower wick on the hammer candle Friday gives me reason to think buyers stepped in to move the price from one volume shelf to the next.
Now sitting just above $14, I am anticipating a run to near $16 next. And then perhaps more if the volume holds up.
Profit targets, options contracts, and stop loss levels provided below for upgraded subscribers.
We have already taken profits on this trade and are ready for more through June!
PLTR
Keeping it moving, PLTR also has my attention.
The gap from the earnings report in February was quickly filled and the candle bounced firmly off of the anchored volume weighted average price (AVWAP) from the November 2024 earnings report (dark yellow).
It is a little early to get into PLTR and yet, here I am with a small position.
I’ll break this down with next steps and entry points. PLTR is not an easy trade but it can pay off nicely. I might be adding more this week.
WDAY
Nothing special about the WDAY chart. Just solid AVWAP support, RSI creeping higher above the midpoint, and the candles holding a higher low.
Profit targets provided a little later. Stop loss should be obvious. Its that big yellow AVWAP that’s anchored to the August lows. If that is broken, wait for the recovery before going long.
TWLO
We are in this trade for the same reasons we are in the WDAY trade. Look at the solid support at AVWAP, this time anchored to the gap up on Halloween earnings.
Literally, that was on Halloween.
TWLO needs to show us something but the stop loss again is very clear. Defined risk is the best risk. Set your stop loss at or just below this level which is at 115.75.
CCL
Here’s a trendline that appears to be holding up. Unlike its peer NCLH, which just reported holdings, popped higher, then sold off to close out the week below its trendline.
CCL reports on March 26th and the calls we are in expire on the 21st. It will be critical to take profits at each target ahead of earnings.
If the trade is working, leaving a few runners through earnings could be the strategy.
(Runners just refer to hanging on to a couple of options contracts after selling nearly the entire original position. For example, selling 20 of 25 contracts, leaving five “runners” to capture any big upswings following earnings.)
Ok let’s get to the good stuff. Entry levels, profits targets, stop losses, and options contracts for these tickers plus two new trades to consider!
HOOD and DIS are ready to rip and we have a chance to get in this week if the candles cooperate. First, we need to see each make the right move.
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