Each afternoon, real setups are broken
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This is today's best trade setups with
verified investing.
>> Welcome to today's best trade setups. My
name is Benjamin P, head trader here at
verified investing.com.
So, what we're seeing is a little bit of
selling pressure in the memory sector as
well as some of the um the chip stocks.
So, I have some key support levels. The
S&P 500 is coming into a really good
level. And then I'm going to show you my
watch list and show you all of the red
on the screen. And again, the S&P 500
isn't rolling over too much, so there
could be just some money rotation, but I
have some great levels for you. So
again, just hit that like button real
quick for me, and that would be a huge
benefit for our channel. All right, let
me go ahead and remove the VI chart um
cases or the uh course sales. Here's
this major support level on not major,
it says support level on the spy. If we
can jump drop a little bit more,
$74,44.78
is going to be that support level. If we
can get a continued sell, this is where
I'd be looking to pick up the spy for a
day trade today. Now, if it does drop a
little bit further than that, you have
this previous gap right here. However, I
would be waiting for this pivot top
previous gap right here at $742.
If it does close below $74478 on a
15-minute closing basis, now if it does
hit the secondary level before the
15-minute close, I would look to add to
this position there. And then if you're
a little bit more conservative, look for
this level at $7415.
Now, SOXX,
it's already gotten below this previous
or excuse me, this gap in the charts.
Look at the run from the um from the
downside. So, from this gap, it gapped
up 21%. So, now on the downside, we're
about an 18% move down. This is going to
be a great support level if we can
recapture it at $54,151.
The next level of support is a previous
gap in the charts. Look at this. How
beautifully it got through this gap and
then got a lot of support at $537.33.
So by 11 or 12:30 1:00 if it's heading
lower into this 53733 level, this is
still going to be a ton of support on
the chart of SOXX with additional
support at 53283.
So this is something that I wouldn't
mind dollar cost averaging down into
because you've got this pivot top
previous gap and this support candle
right here. So 53276
if it does close below 53733
Microsoft filled this gap. Now this gap
in the charts on Microsoft has already
played out. So what I would be looking
for is Microsoft to head up to $399.76
for a short level today. If you're a
little bit more conservative, wait for
that whole round number of $400 to
Pierce and that is your entry price on
Microsoft. Jump into AMD. AMD is coming
into a ton of support. Previous red bar
candle high is where it got support.
Anytime you see this in the charts with
an a pretty extended wide range red bar
candle to the downside, then all of a
sudden you can see this is support. Not
only that, but yesterday's video I'd
mentioned this upping trend line. Pivot
low here, secondary hit, third hit. So
50288 is still a really good support
level on AMD. So, if we get a continued
sell off, that is the level that I'd
look to enter it on a day trade basis.
AMAT is having this nice sell as well.
Got sub 530 bucks. My long level today,
it's a lot more conservative.
The reason I'm a little bit more
conservative, every once in a while, you
get these extended moves to the upside.
You get these pullbacks below an midline
of a parallel channel. The next level of
support is pierce of $500. So $49760
is that level that I would be interested
in going long on a MAT. If we get can
get a continued selloff and again this
is a day trade. If it does hit this
lower end of the parallel channel around
450 460 bucks then I would look to swing
trade long AMAT. Nvidia not really doing
a whole lot. I still have this gap right
here $189.31.
This is going to be a key support level.
Now, every once in a while, you get
these chart patterns that create these
um these patterns that a lot of people
recognize, and Nvidia has done that with
a head and shoulders pattern. Let's just
zoom into the charts. Got this uh left
shoulder, head, right shoulder. It's
already broken the head and shoulder and
neckline. So this on the probabilities
factor indicates that we should get a
continued sell off in Nvidia.
The thing that would negate this, if we
get above $2008,
then all of a sudden the bulls will take
back charge of Nvidia, but it has to
close with a continuation move. On the
downside, here is your basically your
max support level. If it does drop below
18,931 on a daily closing basis, the
likelihood of Nvidia selling off or
continuing to sell off is pretty
substantial. And here's an example.
SNDK
every once in a while, not a head and
shoulders pattern, but look at this
upswingbing trend line. Look at how many
times it's hit. Pivot low here,
secondary hit, third hit, fourth hit,
fifth hit, finally broke below. This
uptrend was still intact until it
finally closed below, made a
continuation move, and now look at the
selling pressure on SNDK. What I'm
eyeing today is this gap in the charts
right here at $1,477.36.
If we can get a continued sell, that is
the level that I'd be loving to go long
on SNDK. Not only that, but look at this
longer upswing trend line that we have.
pivot low here, kissed it here, kissed
it here, secondary hit. This would be a
third hit into a gap in the charts, long
level on SNDK. If it does start breaking
below this though, then all of a sudden
the bottom's going to fall out. We're
coming back down to about 12.84 and then
likely to head all the way back down to
about $961.80.
This is starting to be interesting if we
can get this continued sell for a
potential swing trade knowing that if it
does close below that, I could always
stop out of the trade. Micron had this
huge fall from this pivot top right here
at $1,253.94.
30% move to the downside. Gap in the
charts. Look at the bounce. It did get a
little bit more of a bounce. Um it had a
little bit more of a bounce. Now it's
selling off a little bit more. I still
like this gap right here knowing that if
it does drop below that, I could dollar
cost average all the way down to $86429.
So this is your support range on MU.
Once that support level breaks though,
you're heading all the way back down sub
$820 all the way down to $81867.
Starting to get a little bit more
interesting for a potential swing trade.
But right now, similar with S uh SNDK up
sloping trend line broke, finally broke,
made a continuation, and then the
selling pressure persists. Lit previous
gap in the charts, ton of price
consolidation, $700 level, got a nice
$30 bounce off this gap in the charts or
previous gap in the charts. Now we're
closing below it. I don't like this
trade as much for support because now
we're below it. What I would be looking
at is this level right here at $672.11.
If you're a little bit more conservative
though, you have this previous gap right
here and a previous gap in the charts
right here at $654.79.
So, if we do get a continued roll over
in LIT, that is the area that you could
look to go long. Now, before I continue,
let me go ahead and get the media
assets. All right. So, just a heads up,
we are doing a course sale 40% off all
the way through July 20th. Um, excuse
me, July 12th. Up to 40% off all of our
educational packages. You guys, if you
want to get ahead of the game or a leg
up, build a base for your trading
career, that is how you do it. That's
how I started my career with the
education. And each one of these pieces
of education are paramount. Whether
you're a day trader, a swing trader,
long-term investor, the support and
resistance levels that we have
identified and teach you guys how to do,
it's all in those courses. You guys
don't want to miss it. All right, let's
jump back right into the charts again.
Remove this. All right, Intel.
I have a lot of support sitting right
here at $109.33. I actually love this
level. So, I've got a lot of indicators
on my charts right now. So, right, um, I
was mentioning a head and shoulders
pattern possibility on the chart of
Nvidia. Here's an inverse head and
shoulders pattern. Shoulder, head,
shoulder. Look, we made a break above
it, made a continuation move, but got
below it. So, but here was a low pivot
point. I love it when the charts have
these low pivots. Price action gets
taken out, gets back above, and then
retests this support level. So, here's
the excuse me, here's the play on uh
Intel 10933 is that long level. If it
does close below that on a 15-minute
basis, you could look to stop out. And
then you zoom out in the charts, go to
the daily time frame, and I'm targeting
Oh, zoom into the charts right here. I'm
targeting this previous gap in the
charts, which is why I liked 10933.
The next level support is 10818. Look at
previous gap in the charts. So that's
your ne uh secondary level of support.
And then you have this major gap at
10704.
So if it does continue to drop, this is
going to be basically the line in the
sand. If it closes below this on a
daily, I mean on a 15-minute closing
basis, look to stop out because the
selling pressure on Intel can continue
to the downside. All right, I mentioned
I was going to show you my watch list to
see all the red on the screen. Let's
jump into ALAB. ALAB. My support level
was $374.68.
It's already below that. Your next level
of support on ALAB. It's going to be
right here at about 360 bucks. SNDK. We
already went over TER. I did have this
gap in the charts, but look at the
selling pressure. It's just continuing.
So, what I'd be looking for for a day
trade is price action to get into this
level at $321.75.
Ton of price consolidation in this area.
So TER would be the area of support.
ENVX. I don't really have any levels on
this one. Let's go into AAT. AAT. Um
I've already got covered AAT. Let's go
into CRDO. Lot of selling pressure.
Continued selling pressure on CRDO. My
only long level today would be right
here at 300 $234.31,
but that's too aggressive for me. So,
I'd wait for this previous gap at a
pierce of 230 bucks for a long level.
Um, WDC is another one that's making its
nice move to the downside. Here was a
previous pivot top gap in the chart.
Price action got into this level. So,
now that we've already filled this gap,
gotten price action back above it, I
would be looking for this um support
level at a break of 500 bucks on WDC.
Now if we switch to what's moving to the
upside, we have Asana, GoDaddy, Net,
LOV, the VIX is heading up a little bit,
but Glue Tam, FES. So there is starting
to become money or getting money
rotation out of the semiconductors into
some of these other beaten up names. And
that's just kind of how the markets
work. One of the reasons that we're not
having a continued sell off in the S&P
500 is because of the money rotation
into the stocks that were beaten up,
kind of left for forgotten, and that is
why we're getting these bids. So anyway,
that's what I have for you guys. Lot of
opportunities on the charts today. So,
let's see if any of them can play out
and we'll see you next time in the
charts. Um, oh yeah, lastly, if you
could do me a favor, hit that like
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launch or drop. Anyway, that's what I
have for you guys. You guys have a great
rest of your day. Take care.