MarketSurge powers the charts in this video.
Deal, no deal; tariffs, no tariffs; sanctions, no sanctions – the market has been whipped around by headlines lately. It is normal to see it stall and consolidate its gains from the past few weeks. Most momentum leaders were very extended two weeks ago. Now, some are back to their rising 20-day simple moving average – a spot that tends to offer a better risk-to-reward entry in a bull market.
NVDA closed its DeepSeek gap last week, only to pull back to its base. Nvidia still powers the AI revolution, so dips are likely to be bought. The next potential level of support is around 130.
PLTR tried to break out on Friday after another government contract. The weakness in the general market kept a lid on it. Are we going to see a “what failed moves come fast moves in the opposite direction,” or will it continue to consolidate? It’ll depend on the overall market.
TSLA also had a breakout attempt in anticipation of its Robotaxy launch in June. It pulled back to its base on Friday. 330 is potential support.
BA also had a failed breakout attempt that fizzled. There were so many failed breakout attempts last week. BA is expected to be among the biggest beneficiaries of the new trade deals, so pullbacks to its 20 and 50-day moving averages would offer good risk-to-reward entry opportunities.
BROS remains among the current momentum leaders. It is consolidating in the tight range with a pivot around 72-73. The question is, do we want to chase it above its pivot with so many failed breakout attempts lately, or is it wiser to wait for its rising 20-day moving average, where we could enter with a tight risk?
Try my subscription service, which includes a Discord room and private X feed with options and stock ideas, emails with concise market commentary, real-time market education, the Momentum 40 list of market leaders, and much more. See what subscribers say about my educational service.
Check out my free weekly email to get an idea of the content I share with members. How my ideas/alerts did.
You can find my trading books on Amazon here.
Disclaimer: Everything I share is for educational and informational purposes only and it should not be considered financial advice. Read my full disclaimer here.
