Are these two multi-billion dollar firms set to breakout this week?
Making money in the stock market isn’t easy. However, there are steps that you can take to start putting the odds in your favor.
For example, before the trading day even starts, I’m armed with a list of stocks that I could potentially trade. My watchlist, which I send out to clients the night BEFORE has all the important trading details that you need to make an informed decision.
What kind of details am I referring to exactly?
I’m talking about the:
- Entry level
- Profit target
- Stop level
- Reason to be in the trade
That said, I want to give you two of my top trading ideas of the week. It includes bullish setups in a pair of multi-billion dollar companies… one in the biotech space…. And the other in the cloud business.
Today we’re going to be talking about two stocks exhibiting some of my favorite bullish patterns. Now, if you don’t know, my clients get my watchlists delivered straight to their inbox – along with detailed video explanations – every night when I’m conducting my scans (if I see anything worth noting).
For this week, I’m watching Mongodb Inc. (MDB) and Invitae Corp. (NVTA).
So what’s so interesting about these two stocks?
Well, MDB has a few bullish signs right now.
When I was conducting my scans last night, I found that MDB was actually right near a key support level… and the short-term moving averages are signaling an uptrend.
Here’s a look at the daily chart in
Now, if you notice the purple line… that’s the 200-day simple moving average (SMA). As you can see, this line acted as an area of support. Basically, every time the stock got to that SMA… it’s rebounded and traded higher.
We saw this happen last week… and it could be a signal MDB is ready to start running higher.
Not only that, we saw the 3 exponential moving average (EMA) and 8 EMA cross above the 20-day SMA.
If you know anything about moving average crossovers… you’ll know that when we see shorter-term moving averages (the 3 and 8 EMA) cross above a longer-term (20-day SMA), it’s a bullish signal… and it’s an indication the stock could look to start trending higher.
Here’s the plan that I sent out to my clients.
(Want to know exactly what you’re trading ahead of time? With my detailed watchlists, you’ll know exactly where to get in, stop out and take profits. Click here to find out how you can get them delivered straight to your inbox.)
Now, there’s another stock I’m watching with a bullish setup – NVTA.
I’m taking a page out of Kyle Dennis’ playbook and looking for a catalyst runup trade in NVTA.
[RagingBull Announcement: Don’t forget he and Jason Bond (my former trading coach) will be going live this Thursday, August 1 at 8:30 PM EST and unveiling RagingBull’s Most Wanted. This will be the RagingBull’s BIGGEST event in 2019… and you don’t want to be left out. Registration is still open, but closing very soon… all you have to do is click here and fill in the details, and you’ll have a spot saved.]
NVTA has earnings coming up… and I’m looking for the stock to break out and run up into the catalyst.
With NVTA right near all-time highs ahead of earnings… this stock could break above $26.03 ahead of the event and continue higher. The company is expected to report earnings on August 6, so we have some time for the move to materialize.
Now, here’s what I sent out to my clients last night.
(If you want detailed trading plans on my favorite stocks… there’s only one way to receive them straight to your inbox, along with video watchlists. Click here to find out more.)
Now, I’ll also be conducting scans for my favorite setups… and I’ll be letting my clients know about my plans and if I make any moves.