Hey, traders! It’s Andy with Trade Ideas, and I’m here with some stock trading insight for you on the 21st of November, right in the run-up to the Thanksgiving holidays. We’ve seen some massive movements in the market lately, and we need to discuss this. There’s a slight gap down today, but like always, I’m sticking around, scouting for potential setups, unswayed by the temptation to chase stocks that are in full sprint, mirroring what we see in the SPDR S&P 500 ETF, known as SPY.

So, let’s take a swift dive into examining some of these setups!

The Eye-Catching Stock List

For those who are new here, “gappers” are stocks that show a significant gap between their closing price on one day and the opening price the next day. Here, I’m quickly sifting through some that caught my eye:

1. SYM — This little guy is straining to breakthrough what appears to be about a three-month high. Definitely one to watch.
2. HIBB — With a handsome pattern forming and earnings on the horizon, this is gapping up, marking it as another one on the list.
3. DKS — There’s something about DKS that’s drawn me in, with a massive gap to consider. I’m not expecting it to close this gap immediately, but it’s nudging very close to the 200-day moving average — a critical level worth keeping on the radar.
4. METC — If there’s one stock from this list that you set a price alert for, it should be METC. This stock had an impressive surge recently and tagging the ten day moving average, look for a reversal above the three-day high.
5. BIDU — This Chinese giant released its earnings recently and is showing a slight gap up. While not phenomenal, peeling above the 114.50 level might signal its ambition to contest the 50-day moving average — not sure it’s happening today, though. It’s been a bit of a rollercoaster with Chinese stocks lately, making Baidu an interesting earnings play to keep an eye on.

“I’m not willing to chase a lot of these stocks that have run very similar to what you see in the Spies.” -Andy

In A Nutshell

That wraps up today’s scoop on some stocks that grabbed my attention. These are just initial observations and not financial advice, so please do your own research!

Finally, remember to monitor these stocks closely. Recognize the trends, identify your spots, and pick your moment. Wait for the setups to form instead of catching up with runaway stocks. Remember to “keep it tight” and stick to your trading plan.

See you soon for more insights! Until then, happy trading!