Every Tuesday we hunt for turning points. This week the scan flagged four strategic bottoms. A headline knocked each one down, and each now sits near the bottom of its yearly range with momentum pinned to the floor. The businesses behind them tell a better story than the price.
Before the new board, we grade last week’s.
LAST WEEK’S SCORECARD
We called four bottoms on October 6. All four moved higher after the call with a 100% directional hit rate. Three of the four reached a price target, and two cleared multilegged PTs in under a week. From the call to the high, the board averaged a 6.0% move. Lets take a look at last weeks trades in depth then move on to this weeks picks!
CMG 0.00%↑ led the board. We flagged it at $30.70, two percent above the 8,127-contract put wall at $30. On October 8, two sessions later, it ran to $33.40. This created an 8.8% gain through both the $32 and $33 targets, and it came three weeks before the expected move to these levels around October 28th.
CHRW 0.00%↑ gave us the washout bounce we called. We flagged it at $134.29, one day after the RXO deal sent it lower. It climbed to $144.13 for a 7.3% gain, cleared the $140 first target and stalled 87 cents shy of $145.
GILD 0.00%↑ was the top ranked set up of the week and did not disapoint, rocketing from the low $140’s into the low $150’s in a couple of days. We called it at $144.23, and it reached $152.22 on October 12. That’s a 5.5% gain through $145 and $150, with earnings still ahead on October 22.
$AXSM was the miss this week that started its reversal in the predicted direction but got cut short of the intended target before dropping lower. It bounced from $174.22 to $178.56, a 2.5% move, then fell short of the $180 target as sellers took it back down making it our sole loss of the week.
UNLOCK THIS WEEK’S BOARD
Last week’s board went four for four on direction, and three of the four hit our targets. This week’s four setups sit below the line: the floor, the trigger, the targets and the exit plan for each one. Paid subscribers get the full board every Tuesday, plus a scorecard that grades every call, wins and misses alike. If you want the institutional data for yourself, head over to Trader Matrix and use our link for a special offer!
We caught $ONDS at $0.67 before it ran +2600%, $LPTH at $4 before it ran +440%, and $UMAC at $7 before it ran +340%. Subscribe so you don’t miss the next one.
