merchants,
I’m excited to share some of the top swing trading ideas for next week. Like the successful ones I’ve shared in the past, such as the recent long-running SMCI hyperextension idea, these suggestions and ideas hold the weight to make meaningful directional moves.
So let’s get right into it as I share my plans for the top swing trading ideas for next week.
IBIT consolidation split
There are several different ways to express this idea, and various stocks could show momentum if Bitcoin breaks out of its consolidation. However, I will focus on IBIT because of the risk:reward and liquidity.
On multiple time frames, Bitcoin and IBIT are consolidating in a tight range, with $52 – 52.5k acting as key resistance and the clear level for Bitcoin.
So, anticipating and preparing for a possible Bitcoin boom, here is my reactive plan for IBIT.
*Please note that the prices and other statistics on this page are hypothetical and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and fees.
My business plan for IBIT
If Bitcoin catches a bid and breaks out, and IBIT starts to hold near $30 with authority, I plan to stop either below the exact breakout level or below the low of the day if the breakout happens intraday.
I will use IBIT’s ATR to set targets, aiming to catch over 2x ATR if the breakout is successful. I plan to hold it for several days if the breakout holds, targeting a move towards $31 and $32 to remove a third of the position in each target manually. As the trade works, I will also manage it by staying put using higher lows on the hourly time frame and selling pieces of the position as new higher highs are made on the same time frame. Of course, since it is reactive to Bitcoin, I will also use the discretion to exit or adjust my plan manually should the price action in Bitcoin change.
It pops up in short LUNR
After a nice multi-week run higher on LUNR, the 15m swing stock had negative breaking news on Friday in after hours. The analysis confirmed the short term back and now sets a lower high to be short term for a 1 – 2 day continuation.
*Please note that the prices and other statistics on this page are hypothetical and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and fees.
Here is my plan for LUNR
While unlikely, I would need the stock to push back to previous key levels, which should act as resistance going forward, to get the skewed risk:reward I desire.
As of Friday, two areas of interest are $9 to $10. The $9 lows acted as support on Friday. Therefore, I foresee a push towards this area that comes in big supply. If the stock attempts to push back towards this zone, I will look for intraday failure and lower high confirmation. I will shorten as close to this failure as possible, with a stop above it. I would then target a move back to $6 for 1 – 2 days.
Scope / Channel Opportunities at SMCI
Given the volatility and huge range of the SMCI over the past few weeks, I wouldn’t be surprised to see the stock in a wide range for several days now while it tries to digest the move and reverse some persistent longs and shorts.
So I have no directional bias here. Instead, I will mark key levels and look to react if the stock finds support near key levels for a long trading range or resistance near potential failure zones for a reactive short.
*Please note that the prices and other statistics on this page are hypothetical and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and fees.
Potential support areas I would watch for a reactive one-day swing are $800 – $750.
The resistance areas I will be watching will be the $850 – $900 midpoint and an outer $950 resistance zone. These areas, like the support zones, would also act as targets.
Important Disclosures
