Tuesday, August 20, 2024

AI Spots Rare "Squeeze" in High-Flying Tech Stock

Trade of the Day Wake-Up Watchlist

"Hidden gem uncovered by AI could your next big win."

Nate Bear, Lead Technical Tactician, Monument Traders Alliance

Nate Bear

Market momentum remains strong, but potential game-changers loom on the horizon: the FOMC Minutes, Jobless Claims, and Jerome Powell's address at Jackson Hole. These events could significantly impact market dynamics.

While many traders grapple with the stress of interpreting news and headlines, I've adopted a different approach.

My strategy?

Let price action guide my decisions.

This method helps me sidestep personal biases about the market or individual stocks. Admittedly, divorcing emotions from trading isn't easy, especially when confronted with alarming headlines.

That's where tools like the S.A.M. AI Scanner prove invaluable.

This scanner not only replicates the setups that transformed my trading account from $37K to $2.7 million in just four years, but it also uncovers opportunities I might otherwise overlook.

Case in point: today's watchlist features Monday.com (MNDY), a stock that wouldn't typically catch my eye.

 

Monday.com is a cloud-based work management platform that helps teams organize, plan, and track their projects and workflows.

NEW RESEARCH: AI Trading Tool "S.A.M."
Could Have Found Profitable Trades
With as Much as an 82% Win Rate (Over 5 Years)!

Nate with dog at Computer
 

5-year backtest shows that a revolutionary new AI-powered scanner developed by legendary trader Nate Bear could have found as many as 7,286 profitable plays (an average of 5 per day).

See why traders who have early access can't stop raving about how powerful this new tool is.

See the LIVE demo here...

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It offers customizable tools for task management, team collaboration, and process automation across various industries and departments, allowing users to streamline their work processes and improve productivity.

Industry giants like Coca-Cola, Hulu, and Adobe trust Monday.com for their operations.

But it's not just about the client roster - its stock performance has been amazing.

With a remarkable +40% gain this year, Monday.com (MNDY) has caught Wall Street's attention.

The S.A.M. AI Scanner suggests more potential upside, identifying A+ setups including squeezes on 4-hour and 2-hour charts.

MNDY's recent price action is particularly impressive:

  • Strong earnings response: Shares jumped from $225 to $260 on August 13.
  • Consolidation phase: Four trading sessions of stability post-earnings.
  • Approaching 52-week highs: Potential for a breakout.

This pattern - an earnings pop followed by consolidation - often precedes further upward movement.

MNDY's chart suggests it's primed for such a move.

Moreover, with the stock near its peak, there's minimal overhead resistance.

No underwater shareholders are waiting to sell on the next rise, giving MNDY a clear path upward.

Action Plan: Based on the S.A.M. AI Scanner's findings, I've opened a long position in MNDY. Given the stock's relatively high price, I've opted for call options to express this position.

This strategy allows me to cap my risk while maintaining significant upside potential.

Ready to elevate your trading game?

Discover how the S.A.M. Scanner can transform your approach by clicking here.

Famous Trader Puts AI To The Test
(You're Not Going To Believe This)

Nate at Computer
 

Multimillionaire Trader just put a powerful new AI Trading research tool through the ringer and recorded it...

The results? Well, you gotta see them for yourself to believe.

See what he uncovered that will change the way he trades (forever).

SEE THE RESULTS HERE

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