Hey, Ross here:
It’s the end of the trading week, so let’s close it off with another trade idea.
Chart of the Day
Aurinia Pharmaceuticals (AUPH) is a biotech stock making a powerful move higher.
After more than doubling in just two weeks to start the year, its shares have consolidated in the $8–$9 range.
It has also held and respected its 10-day moving average beautifully.
A push above 9.50 to new highs could be the start of another dramatic rise for AUPH stock. Keep a lookout for this stock.
P.S. If you want special trade prospects and potential market moves sent directly to your phone from me – just text the word ross to 74121.
Insight of the Day
When rallies get overextended, pullbacks are normal.
On the surface market momentum seems to be stalling. But as I mentioned last week, the 2023 rally had gotten a bit too overextended – so I was already expecting this pullback.
In times like these, the best move is to keep a close watch on stocks that had previously demonstrated strong momentum and that are still close to their resistance levels despite pulling back. I’ve highlighted one such stock above – and you’ll see more next week.
And if you want to flood yourself with similar opportunities while everyone else is panicking, then make sure you check this out. It details my strategy for targeting stocks that could be about to see a torrent of institutional money pour in. They’re monitoring this pullback too – and when the time comes, they’ll send stocks surging.
Embrace the surge,
Ross Givens
