Top Trading Ideas for the Week: Focus on Tesla, Upstart, and Bitcoin Stocks

With a Shortened Trading Week Ahead, It is Essential to Have a Game Plan in Place, Thanksgiving will cut down on only three-and-a-half days of trading, quite a period when historical trends of major market moves have come along with outlier and Black Swan events.

Top Trading Ideas for the Week: Focus on Tesla, Upstart, and Bitcoin Stocks

While focusing on efficient trading in the market and minimizing exposure to risk, let’s have a look at some key items currently on this week’s trading watchlist.

Let’s analyze the key trading opportunities and strategies for this week.

1. Tesla TSLA – Multi-Day Swing Opportunity

Tesla remains the top trading idea now for several weeks in a row, showing resilience near the recent pivot high and 52-week high.

Market Setup

Tesla consolidated on contracting volume and range ahead of last Friday’s breakout with elevated relative volume. This could continue into the shortened week and present a very profitable swing trade.

Levels to Watch

Key levels:

  • Support near the $350 area — previously resistance that became support.
  • Resistance at $355 and $360.

Trading Plan

  • Await the retest of the $350 zone for a rebound into Friday’s range.
  • Long positions against the low of the day should be entered.
  • Add to the position on a clean breakout above $355.
  • Aim for $360 on partial exits while trailing stops with higher lows.

By targeting the multiple average true ranges, traders can profit from Tesla’s momentum-driven price action.

2. Upstart (UPST): Momentum Post-Earnings

Upstart is set up to continue higher after a strong earnings gap and multi-week consolidation phase.

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Market Setup

With this development, buyers have set a new floor around $70 with strong short interest at close to 30%. Further momentum would require a breakout above the $74-$75 range.

Key Levels to Watch

  • First resistance is between $74 and $75.
  • Potential upside target at $80.

Trading Plan

  • Ensure consolidation above $74-$75.
  • Enter long positions on confirmation of breakout with increased volumes.
  • Trail stops after an ATR move to $80 scaling out at higher highs.

This is a strategy leveraging the stock’s short interest and technical setup for a possible rally.

3. Bitcoin-Related Stocks: Keeping an Eye on the $100K Catalyst

Bitcoin approaches the psychological $100K milestone, setting up a number of scenarios for related equities like IBIT, MARA, and MSTR.

Possible Scenarios

  • A clean breakout above $100K might lead to a further rally.
  • A failed breakout could also result in sharp corrections.

Key Trading Ideas

  • IBIT and MARA: React to Bitcoin’s price movements.
  • MSTR (MicroStrategy):
    • Close short positions around the $450-$460 resistance zone in case of Bitcoin’s failure at $100K.
    • Cover shorts around $420 or $400 in case the downtrend extends.

Reactivity to the key levels of Bitcoin will be important to execute profitable trades.

4. Small Caps and Sector-Specific Plays

Among small-cap stocks and certain sectors, the following stand out for this week:

Graph trade forex business investment on screen mobile phone soft focus

Uranium Stocks

  • Names to Watch: UUUU, DNN, UEC.
  • Setup: Breakout higher possible as these stocks form bullish patterns.

Quantum Computing-Related Stocks

  • Names to Watch: INQ, QBT, QUBT.
  • Setup: Waiting for exhaustion to set up for mean reversion. QBT seems closest to extension but not ready yet.

Traders should also continue to keep a watch on these stocks to see further development prior to finalizing detailed plans.

Tips for Trading in a Shortened Week

  • Stay Flexible: History shows this week often sees unexpected moves, especially in small caps. Keep an open mind and avoid overcommitting to any bias.
  • Prioritize Risk Management: Lower liquidity equates to wilder price swings. Make sure stop-losses are clearly defined.
  • Watch Volume Trends: Confirmations on breakout or breakdown moves rely a lot on volume, particularly in this diminished trading environment.

The Approach of ABC Capital to Trading Success

If they want more from themselves and their trading, SMB Capital offers them a clearly demarcated way to achieve successful trading. They stress hardcore training, elite market analytics, and constant development — sculpting trading skills no differently than those of a pro athlete.

What ABC Capital Offers

  • Opportunities for in-house or remote trading using firms’ capital.
  • Broad training programs aimed at the development of a profitable trader.
  • A culture of ambition, determination, and excellence.

If you’re interested in joining the ranks at SMB Capital, take a look at their free online presentation that outlines the criteria to earn an interview with them.

Conclusion: Get Ready for a High-Impact Week

This week’s trading watchlist details prospects across higher and lower scenarios in various sectors. Be it Tesla’s momentum, continuation of earnings in Upstart, or the $100,000 catalyst for Bitcoin, the foundation of successful trading involves preparation and discipline.

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