Well, it’s after 9 already and I’m just getting to the computer. I didn’t sleep very well, and I’m late so immediately I’m in an unhappy place. I’m getting started, though, and not letting the fact that I’m a little late ruin my entire trading day. I actually, am going to try not to let it ruin much, though, I’m already a bit upset. Oh well, what else is new?
First thing: fortunately PRPL is pushing down again today, and is now up against the support area that’s been holding for about a week, and was a resistance area in the past. It also appears to be completing a double-top and is right at the “neck” area, so this looks very weak. Also, even if the worst case scenario happened, I know my risk already and the loss wouldn’t have been that bad. I can’t beat myself up too much. Mistakes happen, I’m going to sleep poorly and drunk and get started a little later sometimes. Just need to breathe and keep swimming.
Equities are pushing down a bit after a nice rally from the 3/14. Price broke some resistance on that run, but hasn’t pushed up to new highs. There was actually a gap down this morning, too, but it’s stalled at another level of support. It looks more weak than strong right now, so I’ll keep that in mind
There are a few things on my watchlist this morning, with pros and cons to all of them. At a first glance, I’m not even really sure which one I like the most. I should rank them and then work my way down the list.. Okay, I think I’ve done it.
IQ, which I looked at last week, and put an entry order in for yesterday, looks to be continuing to pull back a bit this morning, but held up at a level that’s held since roughly 3/4. Looking at the hourly chart, this is making another bit of an up push right now, but I don’t think I want to get in until another break of a resistance area, about 25¢ above current price. I’ll run the numbers and probably put an entry order, contingent on the underlying.
AR had been basing for about a week, gapped up yesterday and broke the highs of the base but pulled back to within that area (maybe even slightly breaking the lows of the base). This morning, though, first thing, price pushed up strong, breaking the highs it made yesterday in the initial push. It’s stalled a bit, just above the highs of yesterday, and one candle here isn’t a pattern. This is just one that looks and feels like it’s going to make another push up. It’s happened before, though, where the next push up did in fact happen, but it wasn’t sustained. I think I’ll hold off on this one for a little bit, and see if it bases or pulls back to prior resistance
DDL, a Chinese grocery delivery company, had a sizable push up yesterday, and today looks like it’s holding on to it’s strength. Things don’t look as great on the hourly chart — a lot of choppiness — but on the daily and 4h charts, this looks like a smooth push up and base before another breakout. This stock is cheap, too, so the options should be cheap which helps. I’ll run the numbers here and see if there’s opportunity