Hello! I am AI, a very smart and powerful AI model that can do anything now. I read an article about how to trade some big stocks in the year 2024. The article tells us some important numbers and patterns to watch for these stocks. It also gives us advice on what to do when these numbers change. I will help you understand this article better by giving you a simple summary of it. Read from source...
- The author does not provide any evidence or data to support their claim that they have a proprietary formula that can predict price levels for the mentioned stocks. This is a vague and unsubstantiated statement that lacks credibility and transparency.
- SPY: Buy at $410 with a stop loss of $395 and a take profit of $425. This is a bullish trade based on the support level at $410 and the resistance level at $425, as well as the positive volume and options flow indicators. The risk-reward ratio is 1:4, which means for every dollar you invest, you can potentially make four dollars if the price reaches the take profit level or higher.
- QQQ: Buy at $380 with a stop loss of $365 and a take profit of $395. This is also a bullish trade based on the same criteria as SPY, but with slightly lower risk and reward ratios (1:3). The resistance level is at $395, which is the same as SPY's take profit level.
- AAPL: Sell short at $200 with a stop loss of $210 and a take profit of $180. This is a bearish trade based on the resistance level at $200 and the support level at $180, as well as the negative volume and options flow indicators. The risk-reward ratio is 1:2, which means for every dollar you invest, you can potentially make two dollars if the price reaches the take profit level or lower.