Home » A Cautious Strategy for Uncertain Markets (And Another Breakout)

A Cautious Strategy for Uncertain Markets (And Another Breakout)

Published March 30, 2023

Hey, Ross here:

Here’s another actionable trading idea for you.

Chart of the Day

Allegro MicroSystems (ALGM) is the #1 semiconductor stock in the market. It ranks first among all 31 of its peers in both earnings and relative strength.

The stock put in a shallow base from mid-February to this week with three progressively shallower pullbacks.

It also made a textbook shakeout move on March 13 to run stops and consolidate shares further. Notice how that candle made a new low then rallied back to close the day in the upper half of the candle.

That is a textbook shakeout and usually a bullish sign.

This is a market-leading stock that has shown incredible resilience even in shaky market conditions. If the market is to rally here, ALGM should lead the way.

I have a position in ALGM with a stop loss near $43.50.

P.S. Want me to send you special trade prospects and potential market moves directly to your phone? Text the word ross to 74121.

Insight of the Day

The banking crisis could actually turn out to be a net positive by killing inflation without the need for higher interest rates.

Markets seem to have no clear direction. Depending on what major news comes down the pipeline, it might rally or it might fall.

But over the longer-term period, it seems to have stayed mostly flat. We’re still lacking a clear and sustained direction.

In such situations, I believe the best move is to cautiously play short-term rallies in individual stocks.

Ride the rallies – but always be ready to get out when it starts fizzling out.

This “stealth breakout” strategy is perfect for doing that – so make sure you check out the details while you still can.

And here’s more good news – for a limited time only, you can get your hands on it for just $5.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

Stocks within Article - PRVA

Market, Stock Charts, Stock Market, stocks, Stocks to watch, Surge Stock Indicators

Even Bill Gates himself has said that generative AI has “peaked” and that the next version of ChatGPT won’t be much better than the current version.

So where will the next wave of AI innovation – and profits – come from?

Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

STOCK SURGE DAILY

With Ross Givens

Looking for an edge? Ross has the inside scoop on top analysis that will help grow your portfolio.. Receive a new stock opportunity every day and get ready to see your investment SURGE!

Tech stocks are rallying – and Ross Givens’ #1 Tech Stock of the Decade has been making BIG moves you don’t want to miss.

Recent Posts

Réjean Roberge

November 28, 2023

I'm a new member of 'Insider Effect' and sent a support email and was responded to within minutes. It starts very well.

Philippe Rocher

I'm happy I recently opted in to the Ross Givens's Trading Club at Traders Agency (at the best and fairest offer I could possibly get). I'm new to trading U.S. stocks and options on a regular basis but it doesn't matter, Ross does all of the hard work for me while I'm trading at my own pace (he knows how to trade successfully most of the time and I know that I won't win every trade. Fair enough). He and his great team share a lot of their trading experience in live sessions. Great job. Thanks a lot!

CB Tudor

November 20, 2023

Excellent, very educative and honest service! Worth every penny and more.

Jay Herpick

November 11, 2023

I've found your buying of stocks and options very helpfull. Just wish I had found you folks five years ago. Your friend, Jay H

Ned Ewing

November 6, 2023

I've been working with Ross Givens and have learned a lot. Support has been very helpful and on top of response times. :)

donald macdonald

October 23, 2023

Great session! Ross explains everything well!

Jim Bowen

October 10, 2023

I started with Ross Givens and Trader's Agency GOLD in September of this year and have had some significant success on all but one of the trades he suggested. I have actually made 157% in profits over what I paid to join Traders Agency within my first 30 days. I am no stock expert and I want to know more about how to invest in the market. Ross's videos and strategy sessions are very insightful, and you can chat during the sessions to get his feedback. He's got all the tools at his disposal and has set up some good algorithms in order to help one understand the chaos and fundamentals to watch for in order to make a good investing decision. I have had other investment "helpers" that never yielded what I have within such a limited amount of time. I think Ross, and his team, is the "Real Deal"

Andrew O'Boyle

September 20, 2023

I have been a member of Traders Agency for 3 months. Ross is the real deal! I could not be happier with my results! Thank you Ross and the Traders Agency Team! I found my passion :)

Philip McElroy

September 14, 2023

World Class customer service and I would am really qualified to make this statement.