TSLA Pushes Higher as NVDA Underperforms
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
November 22, 2024
Market Action
QQQ – ending the week with a constructive inside day. Looks setup for higher
Short Term Expectation based on the close is consolidation or higher
Bulls want to see us start to trend higher above the moving averages
Bears want to see us reverse sharply down and close below the 21ema
IWM – Stronger again, follow through up
Bulls would want to us constructively trend higher, with pullbacks to rising short term MAs
Bears want to see a reversal back down to the 21ema
IBIT- still trending higher and getting more short term extended, odds of a sharp reversal increasing but still showing power. Be ready for anything.
Bitcoin approaching 100k level, logical spot for some profit taking/consolidation
Never miss a post from Richard Moglen!
Stay in the loop by subscribing.
Trends (4/4 Up)
Shortest – 10 Day EMA – Up Above Rising
Short-term – 21 ema – Up Above Rising
Intermediate term – 50 sma -Up Above Rising
Longterm – 200 sma – Up – Above Rising
Don’t Miss The Deepvue Black Friday Sale – Save $100
We started our Black Friday Sale for Deepvue early – You can save $100 off an annual subscription
- Top Trader Preset Screens and Data Panels. for quick idea generation
- Innovative and actionable indicators such Relative Measured Volatility and Relative Measured Extension
- Customizable Layouts and Dashboards including innovative Bubble Charts, Heatmaps, Risk Calculators and more
- Responsive support team
- Dozens of Tutorial Videos and Regular Webinars
“Amazing platform that is getting even better everyday. A massive amount of data available for stocks and excellent screening tools. The team is very responsive and keeps on improving. Cancelled my other platform subscriptions and only uses Deepvue now.”
Piet, Deepvue Annual Founder
You can join thousands of traders and sign up below – The Black Friday Deal is our best ever
Groups/Sectors
From yesterday’s close on the left, over last 20 days on the right
Performance Charts from Deepvue
Deepvue Leaders Heatmap
S&P 500
Group Ranks: 1 Day, 1 Week, 1 Month, 3 Month from left to right
Post Market Gap Ups and Gap Downs – not much of note
Key Stocks and Moves in Deepvue
NVDA some continuation down, it is actually beginning a negative RS phase. See if these week’s lows can hold it
TSLA strength off the open then tight action, see if this can push through highs next week
META inside day below the moving averages
AMZN weak inside day
MSTR inside day and holding the 10ema from now, high volatility still expected
RDDT Gap down and tight day, see how it acts next week
PLTR nice push from 10ema flag
HOOD strong action off 10ema area
Stocks Setting Up
SHOP earnings gap and inside day
ALAB looking for a tight area/upside reversal near 100
PODD post gap flag and upside reversal
SQ can wathc for pivot/10ema pullback
GME bit short term extended but holding 10ema
BE wanted this to hold in the flag but slight push out
COIN inside day as it forms a consolidation above the pivot
GLBE double inside and very tight
WIX inside day
CEG had been lagging other energy names but nice push and inside day, ideally flags into 21ema
BILL at the pivot, looking for tight pullback here
SNOW watch for a spot to form here
Themes and Leaders
Key Themes
Crypto, Fintech, Software, AI, Semis
These names have the top RS, growth stories
TSLA PLTR HOOD MSTR COIN RDDT APP DUOL NVDA AXON FTNT DASH SHOP GEV
Recent Earnings gaps and powerful moves
These names are good to watch for pullback spots
AAOI APP AXON BROS COIN GEO IONQ UPST TEM BILL DOCS FRSH LUMN ALAB PLTR SOUN LYFT TSLA HOOD POWL Z AX AMSC LUNR PLNT TOST CRDO COHR RDDT RKLB TRMB VST WVE CEIX LMND MSTR SOFI VRT FTNT MCK DFS MLI CADE HIMS MARA HUT ROOT CRS FHN HQY PODD UPWK GEV OKLO NTNX DOCU FN DUOL GDS FOUR SHOP RKLB SNOW ESTC
Market Thoughts
Small and mids outperforming to end the week. Looking through charts, not many “ready-to-go” setups for early next week. Ideally we get some consolidation which sets up the next low risk spots.
Crypto theme weakened a bit this week, see how that acts next week and how BTC acts over the weekend.
Continue to focus on the leaders – if in one with a great cushion, focus on the trend. Patience Pays in a strong market in a leader.
When having a good period I always visualize where the next pullback could come and how I will react. Always be ready for downside action.
Day by Day – Managing risk along the way
Recent Trade Lab Reports
-
-
-
Reclaim of the Level to End the Week. Space Theme in Focus
December 19, 202514 min read -