Hi everyone, I hope you had a nice weekend.
I was planning on shorting QQQ or doing a pairs trade with QQQ and SPY, but held off on it this week. A couple charts that look good to me are TWTR and XPEV for longer term swing trades (3-6 month or longer holds).
TWTR daily chart below. Last time we hit an RSI this low, we bounced hard. I will either buy a half position next week, or buy after a significant up day with a tight stop loss.
XPEV daily chart below. We are testing the previous “crash low.” Looks like a good time to buy with a relatively tight stop loss. I don’t want to buy now because earnings are in about a week.
I’m thinking of shorting QQQ or shorting QQQ while buying SPY for a pairs trade. I’ll keep you updated if I take any trades.