Stalking Entries in FDX, DIS

#June 21 2024

My top 3-5 swing trading ideas for the week using Elliott Wave analysis. I might or might not make trades in these.  You must follow the RARE Swing Trading group feed chat regularly to participate.

I am not aware of your risk tolerance, financial position, or goals, nor do I know what level of risk you currently have on the table, and I am not a licensed financial adviser. Consequently, nothing I say should be construed to be personal financial advice. Take the time to read Using Shooter’s Swing Notes and our risk disclosures before making any trades.

Swing Trade Performance Week Ending 06/21

#Swing Trade Performance Week Ending 06/21

Swing Trade Set-ups

Fed Ex (FDX)

  • FDX has earnings after the close Tuesday. Just put in a Intermediate Wave 2 with a very bullish target of $320 for Intermediate Wave 3.
  • I like the July 19 $270 calls, volume, good spread, expected 6.7% move. Wait 5 minutes for the options price to stabilize on Monday and pick your poison.
#Fed Ex (FDX) Dailly Elliott Wave Chart

Walt Disney Company (DIS)

  • DIS is 50% back candidate, so we expect a bounce to at 38.2% shortly.
  • An aggressive investor puts a full position so here. A conservative Swing Trade puts 1/2 now and added the other 1/2 once we get close the breakout line. options price to stabilize on Monday and pick your poison.
#Walt Disney Company (DIS) Daily Elliott Wave Chart

Continuation Plays

Home Depot (HD)

  • HD my “Might be done” comment was spot on at $323.77. We’ve moved $32 since then and were building a flag just above the breakout line which implies we continue.
  • Add in tropical activity and Florida flooding we could see a perfect storm on HD this season with Cat 4 storm in the straights heading towards South Florida.
  • Were above my initial Swing targets and were in an Intermediate Wave B with a Target of $370.
  • I like the August $365 targets because I don’t want $900 a contract on a double gap up. Don’t let that comment demise my long bias. Home Depot have never under performed in a active hurricane seasn.
#Home Depot (HD) Daily Elliott Wave Chart

Shopify Inc. (SHOP)

  • SHOP has gotten decent flow in the August $65 and $70. Not huge, but solid after the move into the Gap.
  • So, a tag of 61.8% Fib extension around $73 is my bias here. Give it some time.
  • So, I like the August $70 calls, but $65 calls should also work they just cost more.
#Shopify Inc. (SHOP) Daily Elliott Wave Chart

Risk Disclosure & Performance Disclaimer Statement | Fundamental Trends

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