Daily stock charts of four items added
This is one of those non-priority updates, simply highlighting some charts to go with today’s trade log entries. Leaving aside some of the non-chart related rationale (some of which is noted in the trade log), let’s look at a few daily charts. My first love was, after all, charting individual stocks.
Another note is that there are plenty of other charts out there sporting similar looks. QCOM for one, that I recall looking at. There are several in the Semi space and Tech in general.
Why did I add a moderate position in AMD? Aside from wanting a bit of additional Semi exposure the stock burst above the SMA 200 and has been consolidating back down to it. Whether or not the flag is breaking upward today I’d like see it do so soon. Caveat: it never quite filled the gap up.
Why did I buy a moderate position in NXPI (AMD & NXPI = roughly the size of AMAT position)? Big shot well above the moving averages, a golden cross of said MAs (positive because an inevitable hard post-cross pullback already happened) and it is thus far holding the intermediate uptrend marker (SMA 50), which I obviously want to see continue.
PLTR made a hard spike on volume and flagged back down to fill the gap. I don’t like the chart as much as some of the others, but as long as it does not make a lower low to the post-earnings spike I’d like to hold on to it for fundamental reasons, Q4-Q1 rally willing of course.
Mister Softie was mentioned in NFTRH as a prospect and here is the chart that instigated today’s buy. I am sort of momo’ing it as it ticks above the SMA 200. This is the type of thing that can suck traders in only to reverse. But I am leaning on the intact broad rally view as much as anything else here.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
