Game Plan for the Week Ahead

Jul 8, 2024

Game Plan for the Week Ahead

Recap and Context

  • Friday: Week ended with a bit of an unusual pattern due to July 4th holiday and early market closure on Wednesday.
  • C Koss: Provided a strong cushion for July, closing with $8,000 profit on July 3rd.

Market Context

  • Metrics provide context; Friday showed mixed signals with C Koss action being pivotal.
  • Market closed with a final red candle on Friday at 8:00 PM, suggesting a potential breakdown in the upcoming week.

Stock Analysis for Monday, July 8th

C Koss

  • Current Status: Double top around $18, rejected and rolled over.
  • VWAP (Volume Weighted Average Price): Critical to holding above for positive action but closed below on Friday.
  • **Volume Observation: **Highest volume candle of the whole run-up was on a half trading day.
  • Skepticism about further major moves without a news catalyst.
  • Conclusion: Likely to be out of play without a strong headline or move; potential rejection expected.

Zap Z (ZPP)

  • Chart Analysis: Closed above VWAP on Friday with a potential setup for continuation on Monday.
  • Support Levels: Ascending support is worth examining; trendlines need validation.
  • Daily Chart: Room to the 200 EMA with considerable potential upside.
  • Risks: Possible stock offering from the company could impact the stock negatively.
  • Conclusion: Worth monitoring on Monday; further research needed.

BNF

  • Performance: Up 122% on Friday with light volume and no significant catalyst.
  • Chart Pattern: Several rejection candles, making it volatile.
  • Float: 1.4 million shares
  • Conclusion: Cautious watch, but potential for further moves.

AMVS

  • Performance: Closed near highs on Friday.
  • Daily Chart: Shows room to $20; light volume hence volatile.
  • Trend Watch: Ascending support could play a role in future moves.
  • Conclusion: Good candidate for the side chart.

MDWD

  • Performance: Made some money on Friday but likely too expensive for continuous trading.
  • Conclusion: Not prioritizing this for the next week.

XHG

  • Observation: Likely a one-hit-wonder, focus on taking what’s available.

Broader Market Observations

  • S&P 500: Closing near all-time highs; positive overall market sentiment.
  • Small Caps: Lag behind large caps but will benefit from a strong overall market.
  • Strategy Reflection: Emphasis on discipline during a slow summer market.
  • Risk Management: Keeping daily goals achievable and avoiding overextension.

Personal Trade Management

  • Account Balance: Reduced to manage risk better during the summer.
  • P&L Trends: Focused on avoiding big red days by keeping the risk in check.
  • Summer Strategy: Lay low, focus on small gains with good setups, and preparation for peak moments.

Warrior Trading Updates

  • Sales: Fourth of July sales on different subscriptions and software.
  • Education: Encouraging new traders to start and benefit from the summer’s discipline-building environment.

Summary and Focus

  • Stay disciplined and focus on small, consistent gains.
  • Monitor highlighted stocks with outlined strategies.
  • Utilize educational resources and tools effectively.
  • Manage risk and ensure to practice with simulators before real trading.

Reminder: Trading is risky and results are not typical. Always practice risk management.

Have a great weekend and see you on Monday!