Weekend Watchlist - Trade Ideas for Nov 17, 2024

Humbled Trader's day trading & swing trading ideas

Author

Humbled Trader
November 17, 2024

Hi traders!

My sincere apologies for missing a few of the weekend watchlist emails this month and in October. I unfortunately caught covid and then also pneumonia over the course of a few weeks… It’s definitely weeks like this that I truly appreciate swing trading so much more over day trading!

Thank you all for reaching out to me with positive messages during my absence. If you want to stay more connected, you can follow me on these platforms (free):

Have a great trading week ahead. And take good care of your body!

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DIS $115

  • The stock gapped up Thursday after beating earnings expectations.

  • Despite weakness in the overall market on Friday, the stock held strength well and rallied to close. This is a bullish sign, especially if the stock continues its uptrend next week.

  • The key level to watch for $114s daily gap level from May 2024.

  • If the stock holds its KL, look for potential continuation to the upside.

  • This is a potential day trading and swing trading idea.

  • Position Disclosure: No position

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AFRM $56.15

  • The stock is now broken to new 52-week highs after the earnings report last week. A lot of this breakout move could also be in anticipation of Black Friday sales.

  • The KL to watch is the $52.5 area, which is also the recent breakout level.

  • If the stock can continue consolidating said KL, look for possible dip buying opportunities around the range. I would avoid buying breakouts on this stock.

  • However, if its unable to hold KL, this stock would no longer be a good idea for longs.

  • Position Disclosure: No position

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IONQ $29.14

  • This is a quantum computing stock that was on our watchlist at the end of October. I personally took this swing idea and sold it for a very small profit. It definitely hurts to see where the stock is now.

  • The KL to watch for this stock is around $26’s recent pullback level.

  • Staying cautiously bullish on this name. I would not buy breakouts on the idea. If KL holds up and the RVOL stays consistent, we could see it retest Nov 2021 levels of $31 and higher again.

  • It’s very interesting that the short interest actually decreased since the end of Oct.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Palantir Technologies Inc. ($PLTR) Palantir Moves Stock Listing from NYSE to Nasdaq.
- How we traded: Gap Up Reversal Long

- BTC Digital Ltd. ($BTCT) BTC Digital signs major Bitcoin Mining deal.
- How we traded: Former High of Day Long

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