When I make trade plans for large-cap earning plays, I think of them more as swing trade opportunities. But you can day trade them too if you have smaller gain expectations.
I form a thesis based on my 15 years of experience. And I look at the range the stock has traded with high volume. Look at the AAPL chart above for example…
If it can trade almost $10 per share in one day on high volume, then can it trade $10 per share in a few days? Probably.
Then I wait for the right pattern to get an entry with a clear risk level. I could enter a red-to-green move with risk on VWAP or low of the day.
Or wait for more consolidation, then enter on a breakout risking the low after earnings. And look to take profits near resistance on the daily chart, in the $165 range.
Upcoming Earnings to Watch
Most of the big tech earnings are behind us, but there are still some big earnings to look forward to this week…
Pfizer Inc. (NYSE: PFE) reports earnings tomorrow and Moderna, Inc. (NASDAQ: MRNA) reports earnings in premarket on November 3.
And while there aren't many low-price tech stocks we can trade in sympathy to big earnings — there are biotech penny stocks that could jump in sympathy to the large biotech names.
But like any trade, we wait for a reaction. We don't anticipate.
I'm excited about winter and the next year. It was a choppy and slow start to last week. But I'm excited, things felt different on Friday. Like there was a momentum shift in the markets.
So now's the time to study and get ready for what the market has in store. I can see it ripping back in full force like in 2020.
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*Please note that these kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.
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