“Do something you love and you’ll never work a day in your life.” said Mark Twain.
I was extremely skeptical of this saying when I was much younger.
As the years rolled by, I discovered that it rings true.
I’m fortunate to meet many fantastic traders, some of whom are trading for a living.
Some of my students have also stepped into the world of trading full-time, especially in this highly volatile market condition. Their journey is awe-inspiring and motivational.
This weekend, I got to do what I love – coaching aspiring traders who seek to be consistently profitable, opening an alternative income source.
Though exhausted, I was deeply refreshed.
Before sharing this week’s #PowerStocks pick, let’s review last week’s stock pick: Toll Brothers (TOL).
Review Of Last Week’s Pick Of The Week
The share price of Toll Brothers (TOL) pulled back as planned, although the pullback was shallower than expected.
However, there’s an entry based on The Art of Explosive Profits framework, and you’ll be enjoying a return of ~4% and counting.
If you have not bought the shares of Toll Brothers, please wait for the next swing trading opportunity.
Shall we turn our attention to this week’s swing trading opportunity: Live Nation Entertainment (LYV)?
Why Is Swing Trading Live Nation Entertainment (LYV) Worth It?
Source: investors.livenationentertainment.com
Live Nation Entertainment (LYV) is this week’s #PowerStocks pick. It’s an entertainment company that produces, markets, and sells live concerts for performers.
Its share price had turned bullish and began outperforming the S&P 500 recently.
In addition, its shares have proven explosive, exploding as much as 17.9% in mere weeks.
I smell a pullback coming, so I will watch this stock for a spectacular swing trading opportunity.
Read on to find out the details that I’ll be watching for.
P.S.: What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short period of time?
My team and I have worked tirelessly to help you achieve results fast.
Click on the banner below to claim your stock course for free (limited time) now!
Performance Of US Stock Market vs Live Nation Entertainment (LYV)
After a bearish start to 2024, the share price of Live Nation Entertainment turned bullish and took off.
As its share price surged from Feb 24, it soon outperformed the S&P 500 in late Feb 24.
Because of these 2 points, Live Nation Entertainment’s shares are worth a deeper dive into for a potential swing trading opportunity.
How Explosive Is Live Nation Entertainment (LYV)?
At this juncture, you’ll want to assess whether Live Nation Entertainment’s shares have been explosive and worth your time and money.
Therefore, I’ve marked out the explosive up moves of its shares for you to consider.
From the chart above, you can see 13 huge up moves measuring between 5.2% and 17.9%.
Are up moves of this magnitude impressive?
For a market capitalization of close to $25b, moves of 5.2% to 17.3% are!
Here comes the golden question: Is it time to buy its shares for a swing trade?
Let’s analyze a little more.
Key Price Levels
Having risen by 17.3% in its latest bullish leg, I think a pullback could be near.
Thus, you won’t want to buy its shares now.
This conclusion is further reinforced when you uncover the key price levels of Live Nation Entertainment’s shares.
Do you see an immediate support area ~$99?
The coming pullback could bring its share price down to ~$ $99. If it bounces off this key price level, I’ll be keen to buy its shares for a swing trade because the chance of success is tilted in my favor.
Finally, this is for educational purposes. Please perform your due diligence.
All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.
Claim Your Free (Limited Time) Stock Course Right Now:
The stock market is full of traps laid out by professional traders.
Many new traders are often left confused by conflicting signs and signals.
Worse still, ~80% of traders lose money.
This is because trading isn’t just about skill alone.
It includes the mastery of your emotions.
But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market?
My team and I have worked tirelessly to help you achieve results fast.
Click on the banner below to claim your stock course for free (limited time) now!
