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Rossgivens

Long Trade in MSCStudio City is a Hong Kong-based resort and casino located in Macau. After finding support at the HKEX:2 area last year, the stock emerged from its slumber to advance in just two months. It has been consolidating since January and now appears ready to go another leg higher. This is a low-priced, thinly traded stock and as such, carries more risk. So, we want to be precise with our entry on this one. Active traders might consider buying near HKEX:7 with a stop loss at 6.30.
NYSE:MSCLong
by rossgivens
Pullback Buy in GBTC (Bitcoin ETF)Bitcoin had a painful 2022. But the digital currency turned bullish this year and is now marching higher. GBTC is an exchange traded fund that holds Bitcoin but trades like a stock. So regular investors can get exposure to crypto without the hassle of digital wallets or sketchy cryptocurrency brokers. The stock is currently wedging on decreased volume. This is the same pattern it showed back in February before a quick 50% surge higher. Volume is telling the story here again. High volume moves higher show accumulation while lower volume retracements indicate and absence of buyers. A buy was triggered on the move above 16.50. This pullback is giving trades a second chance to enter with the recent breakout area and 21-day EMA serving as support. My stop loss would be at 14.95 to risk just under 10% on the trade.
GLong
by rossgivens
1
Long Trade in ONONONON is the maker of the popular OnCloud running shoes. The company has experienced tremendous growth over the last few years. I even see it here. They are on the feet on every soccer mom in town. Last month’s earnings report blew away expectations and shares advanced almost 50% in a week. Since then, pullbacks have been minimal. This is a recent IPO, and it is quickly becoming a true market leader. I am writing this at noon on Friday, and the stock is currently trading near $31. I believe the stock is buyable here with a stop loss at 28.20 to risk 8% on the trade.
NYSE:ONONLong
by rossgivens
Long Trade in HIMSHIMS is an exciting new company taking the awkward discomfort out of sensitive medical issues for men and women. They have two sites – Hims and Hers. The sites are catered to each gender and offer hair loss medications, prescription skin cream, anxiety drugs, and sexual dysfunction treatments via quick, online doctor visits. The company then ships the drugs or product directly to the customer’s home. The company went public three years ago, and it has been a roller coaster ride for investors. Shares have been as high as HKEX:25 and as low as HKEX:3 , all in just the last couple years. But the stock is showing signs of a new breakout higher. The 10, 21, and 50-day moving averages are stacked tightly below the stock to form a launchpad setup. We have also seen price consolidate nicely over the last six weeks as investors digest the blowout earnings numbers. I bought some on Thursday near HKEX:10 per share and we issued this as a new trade idea on Friday, 4/14 just before the breakout. So far it is playing out well with a clean move on high volume. The stock needs to stay above $9.35, or I will consider getting out.
NYSE:HIMSLong
by rossgivens
Long trade in CPRXCPRX is the #1 stock in the biotech group by almost every metric. The table on the chart shows its ranking out of all 795 biotech stocks by 3 metrics from IBD's MarketSmith. Sales and earnings are surging and the rate at which both are growing has increased in each of the last 4 quarters. The stock made a false breakout on December 14 when the market gapped up on CPI data. It then put in a shakeout move to hit stops before rallying right out of its base. I am taking a small position in the stock here with a tight stop at 17.65. I want to see new highs in the next several days to confirm the breakout has legs.
NASDAQ:CPRXLong
by rossgivens
Long trade on HALHaliburton is setting up in a volatility contraction pattern trying to break out higher. There is supply at the $40 level, so I want to buy on a pullback off that level to create a profit cushion in case it fails there again. There is also a longer-term cup with handle pattern here with $40 being the top of the handle. Volume is drying up in the base which hopefully signals supply no longer coming to market and the stock becoming harder to buy. I am taking a small pilot position off the pullback to the 50-day moving average (red line) with a tight stop at 35.20. The fundamentals looks great with 4 consecutive quarters of big sales and earnings growth. Analysts also predict another 41% increase in EPS for 2023.
NYSE:HALLong
by rossgivens