Happy Sunday, Traders!

I hope you all had a sunny week and the past week brought you success not only in your trading but moreover in other areas of your life. As the new week quickly approaches, it’s time to focus up once then and get the swing trading plans locked in.

Last week was dominated by a sea of red and a continuation in selling wideness the board, with only a handful of names outperforming the market. As it relates to the S&P 500, the standout performer last week was Nvidia (NASDAQ: NVDA), up scrutinizingly 6% on the week, while the QQQs sealed the week lanugo 2.21%, SPY lanugo 2.05%, and the semiconductor ETF SMH negative 0.05%.

While my top two swing ideas from last week, CVX and UPST, did not trigger or materialize, both remain attractive, potentially needing increasingly time to set up. Therefore, I will protract to have my alerts set in both stocks going forward, although I will no longer be watching them actively. As a new week approaches, my primary focus will shift to new swing setups, and without last week, there are a few.

However, as summer trading is still working and well, I am seeking wool confirmation surpassing inward a new swing position. As I mentioned last week, With the current trading volumes, the correction experienced last week in the market, and where the big picture trend stands for the overall market, it’s all well-nigh playing it smart and steady. Less is increasingly right now.

Three New Swing Ideas:

PulteGroup (NYSE: PHM)

PulteGroup, Inc. is a visitor involved in homebuilding, mortgage banking, and title and insurance brokerage. It operates in two segments: Homebuilding and Financial Services. The Homebuilding segment encompasses operations wideness numerous states, while the Financial Services segment focuses on mortgage financial and title operations.

Shares of PHM Tapped Its Uptrend

Year-to-date, shares of PHM are up over 74%. However, a notable shift in momentum took place last week in the sector as many homebuilding stocks tapped their uptrend. PHM tapped unelevated key short-term moving averages and its uptrend and sealed the week lanugo 4.19%. From a technical point of view, the unravel of the uptrend signals an important momentum shift to me, at least in the short term. Therefore I am looking for a secondary opportunity and potential leg lower.

My Trade Plan

As I mentioned above, due to the current environment and time of the year, related to swing trading, I am expressing uneaten patience and willpower and only looking to enter new swing positions if I get wool confirmation.

*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of unrepealable market factors such as liquidity, slippage and commissions.

I am looking to enter PHM short on a lower upper bounce, focusing predominantly on the hourly chart, between $80.5 and $81.50. I will be looking for the stock to stage a vellicate over $80 and for sellers to step when in and provide the resistance I am looking for as an entry signal. Once the lower upper has been confirmed on a higher time frame (hourly chart), I will get short with a stop whilom the upper of the lower high.

My first target would be last week’s low, $77.78, where I would squint to imbricate half of my position. If that target is reached, I will then trail my stop by 1 ATR and squint to imbricate the rest of my position into the next level of support, $75. My timeframe for this trade to develop and play out is 1 to 1.5 weeks. If there is unfurled weakness immediately off the open, I will not squint to ventilator the stock short. As I said, patience is vital in this environment, and therefore I will only enter this trade short if the plan materializes as outlined above.

Tesla (NASDAQ: TSLA)

Shares of TSLA have experienced immense selling pressure lately, lanugo 11.19% last week and 18.03% on the month. With shares rapidly unthriving and yet to find price stability, I am in no rush to get long. However, in the short term, the stock is unescapable oversold territory, in my opinion. With the stock firmly unelevated unthriving short-term key moving averages, like the 5-day and 20-day, there are still no signs of a bottom, but as TSLA fastly approaches a key support level, a short-term vellicate opportunity becomes likely, in my opinion.

My Trade Plan

$210 – $200 is a significant zone of support for TSLA, and with the stock lanugo double digits last week and on the month, I’m now looking for a sign to get long for a 2 – 3 day vellicate trade.

*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of unrepealable market factors such as liquidity, slippage and commissions.

The key here is that I will only buy the stock without it bottoms and shows signs of support. I will wait for buyers to step in and provide the support I need to see to get long.

So, in terms of getting long, there are two scenarios that I am prepared for. Firstly, I will get long if the stock trades near the $210 area, reverse off the lows intraday, reclaims the VWAP, and goes green, marking a bottom. In that event, I will get long upon red to untried confirmation, with a swing stop at the day’s low. If that triggers and the move plays out, I will imbricate my position towards the dispersal zone of last week and 5-day SMA between $225 – $230.

The second scenario in which I would get long is if Tesla held whilom Friday’s upper on Monday. If Tesla spends considerable time ( over an hour ), basing whilom Friday’s upper while the overall market remains over its intraday VWAP, I will squint to get long versus Friday’s low for a short-term vellicate trade toward $225.

T2 Biosystems (NASDAQ: TTOO)

This is certainly a variegated type of stock versus the whilom two and not everyone’s cup of tea. TTOO is a small-cap biotech visitor that has gained enormous sustentation lately and has been dubbed a potential meme stock. The stock has a market capitalization of well-nigh $151 million and a bladder of well-nigh 283 million shares.

In the past two months, the stock surged well-nigh 375% higher without receiving an extension from Nasdaq, reporting financial results older this month, and increasing short interest and online attention.

This is a stock I traded intraday last week. However, now that volume has begun to die down, and the top appears to be set, I would be interested in shorting a lower upper on the hourly time frame.

My Trade Plan:

After the stock topped out last week in the pre-market at $0.73 and faded to a near $0.40, I am looking to get short a lower upper bounce, using the hourly time frame. Ideally, the stock pops when near $0.60 and fails, which would be my entry to get short.

*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of unrepealable market factors such as liquidity, slippage and commissions.

If the stock confirms a lower upper near $0.60, I will get short with an initial stop loss placed at $0.05 (half an ATR) whilom the upper of the lower high. However, as the trade works, I will lower my stop to the upper of the lower high.

My first target for the trade is $0.40, a hair-trigger level of support for the stock. I will squint to imbricate up to 75% of my position into this level, aiming to imbricate the remainder of my position into $0.30.

Importantly, I will enter this position once a lower upper confirms. I will not get short if the stock reclaims higher prices and bases over $0.60. Small caps have a higher risk, so I will only get short if my trade plan materializes, and of course, I will have a nonflexible stop in place. If I enter this position, I plan on imposing a 3-day time stop on it.

Important Disclosures