Breakout of a Long Base
Big Gain Opportunities
Introduction
Dear Trader,
After Trump’s victory the market rallied hard. This caused many interesting setups to come up on our radar.
While the renewable energy sector got absolutely slaughtered, with stocks like Enphase Energy losing close to 20% on high volume. The stock already broke down a few weeks earlier but is now making new 52W lows.
Now without further ado let’s get into some of these Big Bases, these breakouts could potentially result in multibagger gainers.
IonQ Inc. IONQ 0.00%↑
This stock in the quantum computing space started gaining momentum in the beginning of September. The company is still losing money and generated just $12.4M in revenue last quarter. Nonetheless, the company currently sits at a market cap of $5.36B.
Does this matter as a momentum trader? Absolutely not.
The stock price is now at levels last seen in 2021. With the all-time high around $35 as a potentially big resistance level, this stock still has potential. As always with momentum trading one has to be cautious for turnarounds and make sure to manage risk accordingly
Zillow Z 0.00%↑
Another stock that absolutely soared during the 2020-2021 boom and bust market is Zillow. This online real estate stock broke out above a strong weekly resistance that first started in 2018.
Very strong breakout and one worth watching. Periods like these are the ones where money is made, both on the upside as on the eventual downside.
UP Fintech Holding Limited. TIGR 0.00%↑
TIGR is a Chinese fintech stock that broke out on huge volume a few weeks before. The stock broke above the purple line, which IMO was the most significant resistance for this base.
TIGR has now perfectly backtested this level again. It has earnings on Tuesday, which could add significant fuel to the fire.
Definitely a stock to put high on the watchlist as a momentum trader. The 52W-high made in the beginning of October is 133% higher than the current level. If the stock goes really crazy and moves back to its all-time highs that would be again of 525% from here.
Hims & Hers HIMS 0.00%↑
A stock I’ve been a fan of as an investor for a long ling time and have discussed a multitude of times. While the stock is now getting a lot of attention all over X, I still remember the days back in 2022 and even 2023 when nobody was talking about it.
Anyway, the chart is looking absolutely great now as well. The 52W-high broke the previous ATH slightly, if we break above it again soon, there is no resistance left at all. It is important to mention that I do have exposure to HIMS already.
A move above the current ATH could be very explosive.
Ending
Thank you so much for reading this article! I'm excited to share that I’ll soon be launching a Discord server where I can regularly share insights and trading ideas as I screen the markets.
It'll be a space where I can easily drop my charts and notes, and, even better, where we can have real-time, interactive discussions with each other. It’s all about building a space for open exchange and collaboration, so if you're interested, keep an eye out for more details—this could be a great resource for everyone involved and of course, it will be FREE of charge.
If this is something that would be of interest to you, keep an eye on tomorrows article, in which you will find a link to the discord.
In addition, tomorrow, I will release another piece with some strong potential breakouts, so make sure you subscribe for that one! I would appreciate it if you could share this article so we can reach as much people as possible.
Nice piece. And how about DOCU…