Tickers discussed: BHP VALE CLF BTU DDD PLL LEU SBSW SXC
Trades about to Happen features technical chart set ups that are close to actionable levels.
Inspiration – Do what you love
Juan Manuel Fangio is widely regarded as one of the best Formula 1 drivers of all time, and he had a passion for it! Do a careful examination of your motivations for trading. If you’re not absolutely passionate about it, do yourself a huge favor and please stop. Without the passion, you won’t do the work and without the work you’ll surely fail and lose a lot of money in the process. Have you noticed the “crayon eating” $GME / reddit crowd is largely gone? Generally speaking, they were a fly-by-night crowd, bored with life under covid and trading with free money. That money is probably gone. Trading is a grind. Passion is what gets you through to the other side when the water gets choppy.
Chart Set -Ups and Trade Ideas
In the charts below, I have identified key support / pivot levels and objective trade locations where traders can focus attention in the days ahead. I have found that setting a bunch of alarms, then waiting for them to trigger is a great way to re-focus on individual tickers. Once triggered, the trader can then evaluate whether to take the trade or not based on market conditions and current portfolio exposure.
Before taking any position, please confirm the earnings date
Trades about to happen
$BHP Weekly
Iron Ore producer BHP is pressing for a weekly breakout at $72.5. That is a perfect place to get long with a clear line to shoot against on the long side with a stop below. Blue sky overhead.
$VALE Weekly
Brazilian Iron Ore Miner $VALE is also going for a weekly breakout. Above $20.50 is blue sky. Another Iron Ore name not shown is $RIO. Traders may want to look at that name. I am long VALE.
$CLF Weekly
Cleveland Cliffs steel producer is also going for a weekly breakout. Notice that the PPO is just now turning up at the zero line and that RSI has broken out. Both bullish moves that support higher prices. While I am already long, I like new entries above $26. A very objective level to shoot long against. Other Steel names of interest are $X, $NUE, $STLD, $ATI, $TS, $RS. LONG X and $STLD
$DDD Weekly
Last Week Price broke key support at $15.50 and has moved into a big void of price / volume where I dont see much stopping it from falling toward $12. Possibly lower. If you arre willing to potentially take 50c to $1 of heat on a kick back rally, I like it short. I entered the April 15 Puts on Friday.
$SBSW Weekly
Gold and other Precious Metal miner Stillwater is breaking out on the weekly. I like it long against $19.50 w/ a stop just below.
COAL Group
$BTU Weekly
While some may feel they are late to the party on this one, do as I tell my followers…“Look for the next opportunity”. Here at $26 it gives you a clean line to shoot against for a potential move to $40. On Friday I rolled higher and will use $26 as my main pivot going forward. THe most exciting thing about this chart is the fact that the PPO momentum is just turning up from low levels. From experience I can tell you this is a volatile stock. 5% or even at times 10% intraday pull backs are frequent. Look for a dip to buy on this one.
$SXC Weekly
Not as mainstream as BTU but the chart looks just as exciting. A break above $9.75 on the weekly opens up $12.50 on the chart. I like it long above $9.75 / $10 w/ a stop just below. Other Coal Names. ARCH, CNX, ARLP, CEIX, NRP, HCC ( Met Coal )
Lithium Group
$LEU Daily
No immediate trade here , but do yourself a favor and alarm $46 for a recapture of the 50ema. THis can be an explosive stock. When this consolidative pull back is over you want to be ready to go. Set the alarm so you dont forget.
$PLL Weekly
The name exploded 16% this week as it re-entered the trading range from $50 to 77.50. Alarm $62.50. On a break above, I like it to make a run to the top of the box at $77.50. Looking ahead, on a break above $77.50, the measured move target would be $100.
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