Many of you know what this post is about, the Week Ahead. In the past this post has been all about preparing you for the week ahead, thus the title was naturally should be ‘The Week Ahead’. However, I want to hold a more unique presence on the internet, therefore I have decided to rename this post to Banking On It, a play off my last name ‘Banks’. Everything about this post will remain the same, the video and the charts and educational analysis that goes along with it, simply just a slightly different name.
The SP500 had a stellar week, grinding higher almost everyday. Many like to attribute this to Santa and yes, seasonality does support this thesis but you would not want to strictly trade off of seasonality that likely will not be a big enough edge for you to make consistent money. Instead, simply being aware of the seasonality is good enough and then using that to add a little bit of extra conviction to whatever you happen to be trading.
Starting this week I am going to be doing something a little bit different. I am going to be providing you with my top set ups for the week ahead, the most actionable set ups on my watchlist. I will not be providing all of my watchlist like I have done in the past, simply just a handful that I feel like are of the highest quality. I will also be updating these top set ups on the next edition of the week ahead.
TOP SET UPS FOR THE WEEK AHEAD
This first stock (as seen below), has had a good run in 2013 and recently pulled back. the past couple of months have allowed the stock to cool off a little bit & set up a new base to break out from.
Great move this past week and nice bull flag in the making. Try it long over Friday’s highs with a stop under Friday’s lows, perhaps there is another squeeze in the making.
After a huge move a couple months ago, $MDVN has consolidated nicely to form an upper level flag. Look interesting over Friday’s highs.
After a MASSIVE move a couple months ago, similar to $MDVN, it has consolidated well and recently formed a hight and tight bull flag under resistance. This looks interesting over Friday’s highs for a swing trade.
Always take a look at the weekly charts as they tell the full story. This one’s weekly chart is poised to make an explosive move out of it’s base. Over $91.75 it gets in motion from a weekly perspective but it is already holding higher on the daily and a swing posistion could be put on versus the lows on Friday.
This set ups is really nice, similar to $GPOR in the sense that it broke the downtrend line and now is holding higher in a bull flag pattern (shows that momentum is still intact). I like this stock over $105.50 with a stop under Friday’s lows.