Welcome to Austin's Smash or Pass Analysis, where we give Stocks the glorious "Smash" or dreaded "Pass". Austin, our CEO and Founder goes live every Monday 5PM EST and takes us through various stock picks called out from the live listeners, and I, your guide, Meta Matt, will provide you with a breakdown of these choices.
A Reflection on Life's Challenges and Trading's Purpose
In a heartfelt moment during the stream, Austin opened up about a deeply personal experience. He shared that he had to make the difficult decision to put down his 15-year-old dog the previous week. The emotion in his voice was palpable as he described it as "one of the worst experiences" he'd ever had. This event, although painful, led him to reflect on life's purpose and the significance of what they do in the trading community.
Austin emphasized that the situation made him grateful for the financial stability he has achieved through trading. He stressed the importance of trading and financial education in enabling individuals to attain a level of freedom where they don't have to worry about making tough decisions due to financial constraints.
As he recounted the painful experience of having to put his beloved pet down, Austin underscored that he didn't have to agonize over whether he could afford the procedure. This, he explained, was a testament to the value of financial freedom.
He then delved into the fundamental reason behind their trading endeavors: the pursuit of freedom. Austin shared that, for him, it wasn't just about trading for trading's sake; it was about creating a life where he didn't have to work for someone else, where he had the financial flexibility to do what he wanted without constantly exchanging hours for money.
Austin's passionate speech about the importance of trading and financial literacy served as a powerful reminder of the goals many traders aspire to achieve. It's not merely about making money in the markets; it's about achieving a level of financial freedom and security that allows individuals to live life on their terms.
He stressed that, ultimately, trading empowers people to make better decisions about money and that everyone starts from a place of not knowing. Austin's journey began with a desire to learn, and he has dedicated himself to sharing his knowledge and experiences with others.
Austin's message was clear: trading is not just about charts and strategies; it's about creating a future where financial concerns don't dictate one's decisions. It's about acquiring the skills and knowledge to navigate the world of finance confidently. And, perhaps most importantly, it's about a community that genuinely cares for its members' success and well-being.
As Austin concluded this heartfelt reflection, it was evident that, for him and many others in the trading community, the pursuit of financial freedom and the ability to live life to the fullest is at the core of their trading journey. Now let's dive into Austin's "Smash or Pass" picks!!!
SMASH OR PASS: Stock Market Edition
HOOD - Tasty Smash! Our first pick on the menu is "HOOD - Tasty Smash!" Austin's excitement is infectious, likening this stock to a perfectly seasoned burger. While the volume might not be ideal, sometimes you have to savor the flavor of a stock. Trading below the weekly trend support? No worries; keep an eye on the range between $8.83 and $10.22; it's a strong accumulation zone, like the secret sauce that holds it all together.
UBER - Pass, unstable and possibly toxic... Next up is "UBER - Pass," and Austin doesn't mince words. This one's as unstable as a Jenga tower during an earthquake. That ominous Head & Shoulders pattern on the weekly chart is downright scary. It might be best to steer clear of this ride for now.
CCJ - Smash! Super sexy above $36 Now, let's talk about "CCJ - Smash!" This one's super sexy above $36, reminiscent of James Bond – smooth, sophisticated, and ready to break out. With the RSI at 72 to 77, it's got the swagger to make it to $42.
MA - Smash up to $434! "MA - Smash" is spicier than a jalapeño. With Fibonacci levels, bullish momentum, and talk of reversion to the Golden Mean, it's a gourmet dish with a dash of magic. Austin's eyes are set on $434, maybe even $500. This one's a wild ride, so buckle up!
ET - Tasty Smash! "ET - Tasty Smash" is screaming bullish on the monthly. It's like a secret family recipe that always hits the spot. Going from $4 to $15? That's some serious flavor. Energy companies like this one are the future's gourmet stocks. It's time to dig in.
NIO - Pass, but you're hot and let's stay friends... "NIO - Pass" – it's like running into an old flame at a high school reunion. Austin's disappointed with the monthly chart, but there's still potential. As long as it keeps above $9.50, it might just rekindle the fire.
BBY - Pass...No, I don't want GeekSquad protection for a year... "BBY - Pass" – it's that tech retailer that's managed to evolve, unlike some. Earnings are on the horizon, but it seems like they're getting a bit rusty. Time to pass on the GeekSquad protection, I guess.
ROKU - Smash, baby! Austin serves us "ROKU - Smash" – it's an absolute banger, smashing targets left and right. It's like that chart-topping hit that you can't get out of your head. Testing support at $75? Get ready for the encore at $80.
MMM - Peaked mid-30s, Super Smash! "MMM - Super Smash" is like a superhero in the stock world. With a range from $99 to $178, it's got potential written all over it. Don't miss this long-term options trade opportunity.
And there you have it, a flavorful tour of Austin's Smash or Pass. Remember, Austin's live trading streams are every Monday at 5 PM EST, so join us for more entertaining and insightful stock market adventures.
Check out our "Smash or Pass" Channel in the discord fora full breakdown on all these and more: https://discord.gg/pennybois
Austin's Stock Market Breakdown
We've delved into Austin's lively "Smash or Pass" session, and now it's time to roll up our sleeves and dive deeper into his insightful analysis of specific stocks. Remember, trading isn't just about gut feelings and lucky guesses; it's a strategic game of observation and calculated moves. Let's talk about some of the stocks Austin mentioned during his stream, outside of the "Smash or Pass" section.
NVDA (NVIDIA Corporation)
Austin turns his attention to NVIDIA Corporation, ticker symbol NVDA. Here's his breakdown:
"We tested support today and closed above the crucial level. Our consolidation phase is in full swing, with NVDA trading comfortably between $450 and $475. As long as it maintains this range, we have a promising setup for a potential push back up to $500."
SPY (SPDR S&P 500 ETF Trust)
Next on Austin's radar is the SPDR S&P 500 ETF Trust, widely known as SPY. Here's what he observes:
"We find ourselves trading once again in the channel we've previously mapped out, ranging from $435 to $446. Today, we made a strong move back into neutral-bullish territory, marked by RSI convergence on the hourly chart. My outlook is positive; I anticipate we'll continue this trajectory up to $446. If we happen to open between $441 and $443, I'm keen on $445 calls, with at least a three-week expiration."
TSLA (Tesla, Inc.)
Now, let's shift gears to the electric vehicle titan, Tesla, Inc., with ticker symbol TSLA. Austin's analysis goes like this:
"We've witnessed a bounce off long-term trend support, extending from the beginning of 2023. TSLA is currently eyeing the reclamation of the $250 to $253 range. If this level is achieved, I foresee a rally that could take us all the way back up to $300. Notably, we're seeing decent volume and RSI convergence, accompanied by higher highs and higher lows. In the short term, it's crucial to push and maintain above $245 to pave the way for the $250 target."
AMD (Advanced Micro Devices, Inc.)
Advanced Micro Devices, Inc., or AMD, enters the scene. Austin provides a comprehensive analysis:
"Our attention now turns to AMD, where we're closely monitoring a price range we've previously outlined, stretching from $102 to $113. We've experienced a supportive bounce off the 200-day EMA on the daily chart. However, it's imperative that the price remains above $102. On the weekly chart, the situation presents a slightly different picture. We briefly dipped below trendline support but rebounded off the 34 EMA. As long as we stay above $100, I'm inclined to consider a trade that could reach $113, and perhaps even $125. The long-term trendline support resides around $97. Should we approach the weekly trendline support, I'd like to see consolidation between that level and $102 before a robust push upwards. We're also keeping an eye on volume – we need about 100 million, almost double our current levels, to really make things happen."
UAL (United Airlines Holdings, Inc.)
United Airlines Holdings, Inc., represented by ticker symbol UAL, comes into focus:
"While we still maintain long-term trend support, it's worth noting that we recently closed below the 200 EMA on the weekly chart, accompanied by lower volume. Despite this, I remain optimistic about this position, provided we hold onto our trend support."
SHOP (Shopify Inc.)
Shopify Inc., ticker symbol SHOP, also garners Austin's attention. Here's his perspective:
"We executed our plan well, hitting the $71.36 resistance level precisely as intended. Subsequently, we witnessed a drop to our lower support. I'm currently focused on RSI over the next few weeks; it's above 50, which is a good sign. To further bolster our case for a strong upside move, we ideally want to see RSI climb above 60. It's essential to remember that we're dealing with a robust liquidity zone spanning from $71 up to $136. In just six weeks, we saw it plummet to this level, which suggests that the price can exhibit similar velocity on the way back up."
LABU (Direxion Daily S&P Biotech Bull 3X Shares)
Austin completes his analysis with Direxion Daily S&P Biotech Bull 3X Shares, known by the ticker symbol LABU:
"We've got an intriguing Double Bottom setup on our hands. There's a notable RSI divergence on the daily chart, where RSI has bottomed out while the price remains slightly higher. As long as we don't violate the low at $4.25, I'm looking to execute half my position, potentially targeting $6.11. I'll take off some risk at that point while holding the rest with an eye on the $7.50 mark."
Empowering Traders to Find Their Direction
In his stream, Austin took a moment to address a crucial aspect of trading education: self-sufficiency. He emphasized that their goal was not just to provide stock picks or trading setups but to empower traders to become self-sustaining and self-supporting in their trading journeys.
He likened the process to putting together a complex puzzle. The first step is to gather enough pieces of information to draw a conclusion and set the right direction. Once led in the right direction, traders can start assembling the pieces to become self-sufficient in their decision-making.
Austin encouraged traders to actively engage with the educational content, treating it like a university class. He urged them to take notes, draw on charts, and capture screenshots to solidify their understanding. By doing so, traders could build a foundation of knowledge that would enable them to navigate the markets with confidence.
He acknowledged that many traders in the community had already reached a level of proficiency. With this proficiency came the ability to identify key elements in a chart or trading setup. Austin believed that the members, particularly those with experience, should be able to recognize critical factors and make informed decisions independently.
Using the example of AMD, he illustrated how traders could leverage their knowledge to anticipate price movements. He highlighted the importance of long-term trend support, emphasizing that even during harsh market sell-offs, these established trends often held strong. This, he explained, could present an excellent opportunity for traders to make informed decisions, whether it be taking long positions, buying calls, or betting against the trend with put options.
Austin's message was clear: self-sufficiency in trading is attainable through education and experience. By dissecting the charts, understanding price action, and recognizing pivotal moments, traders could enhance their decision-making abilities.
Furthermore, he emphasized the importance of considering options expiration dates, emphasizing that understanding how a stock typically moved over specific timeframes could guide traders in choosing the most appropriate options contracts.
Austin's dedication to educating traders went beyond just sharing trading setups; he aimed to equip traders with the skills and knowledge to navigate the markets independently. His commitment to empowering traders underscored the ethos of the trading community—a place where members help each other grow and succeed.
In closing, Austin acknowledged the role of grief in life and expressed gratitude for the unwavering companionship of his beloved dog. He spoke to the pure, unconditional love that pets offer—a love free from complications and drama. This heartfelt moment served as a reminder that, ultimately, trading is about achieving the freedom to live life on one's terms and to cherish the moments that truly matter.
