Trading DKNG & AAPL, Plus Two More Wins
Last week was rough for some, but trading the right stocks paid off.
It is no doubt my favorite time of year for sports as I am a huge college basketball fan and always enjoy the tournament.
And of course I am not alone.
With this enthusiasm we might see some attention shifted over to DKNG as activity ramps up for a space that continues to see growth. Sports betting is only getting bigger and more accessible.
You might have also noticed the chart for DKNG has been consolidating in the low $40’s, which sets up a nice trading opportunity.
Before we get into that and this week’s trade ideas, you might be interested to see how a few recent trades are playing out.
Starting with GOOGL, which made moves higher while markets drifted lower. Shares broke above resistance and powered to the first profit taking level.
It looks like a retest of anchored volume weighted average price (AVWAP) could be coming which would be the entry we are looking for ahead of more upside.
Here’s a link to last week’s trade idea details for the options contracts I am considering and where I look to take profits for both GOOGL and the second winner from the same post, SHEL.
Just like most of the names in the energy sector, SHEL made a move higher. It made a strong move.
Congrats to those that got in on either of these trades, I think there is more upside on the way!
And if you missed either one, there will be opportunities either on retests or a break through of the next level.
NNOX was another name mentioned last week and this bearish trade idea has not yet played out.
The week needs to start with a healthy rejection back below 10.00, showing that Friday’s pop was a fake breakout. The long upper wick gives a signal this could occur.
Watch for a rejection and close on the daily candle below 10.00. I still like this short trade idea if shares start the week off moving lower and we have until April 19th before the options expire.
I hope you are enjoying these weekly trade ideas. We have had some solid winners to start the year and look to keep things rolling through March.
Let’s get to DKNG and trade ideas for AAPL!
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