Today was a rough session for several stocks, but $SMR (NuScale Power) stands out because I’ve charted and traded this company. ***Lengthy Post Warning*** The stock experienced a meaningful pullback that was large enough to test traders conviction. To manage the volatility, I outlined a white box on the chart representing the trading range where I would plan my entry. More importantly, I wouldn’t enter at the very top of the box. Instead, I would try to make entry towards the lower side. This approach reduces the risk of taking maximum loss on any single swing while still participating in the setup (the box). $SMR remains trading above both its 9- day and 20 day moving averages. On the 2 hour chart, you can see the candle bodies consistently hovering near the 9 day MA, showing the stock is still finding some footing in that area. The pullback itself wasn’t surprising. As price approached a clear supply wall (what we can also refer to as a near-term ceiling), resistance was expected. That level also coincided with the 9 week moving average, adding another layer of potential selling pressure. Tagging multiple resistance areas at once often leads to exactly this kind of reaction. Meeting resistance is a normal part of trading. Especially in volatile names like $SMR. What matters now is how price behaves within the white box. I’m watching to see if the lower boundary of the box holds as support. There’s no guarantee, of course, but that’s the level I’m using to test my conviction. If the stock breaks and holds below that demand line, I would likely exit the position and look for a higher probability reentry later rather than holding through an invalid setup. Of course risk management needs to be said here and stop losses should be placed where you see fit.

bitcoin:native Bitcoin is falling out of the wedge. I’ve never removed the fibs for this reason. Yes, there’s still time for it to flip the script, but it’s guilty until proven innocent.

$STZ Constellation Brands: Is this a long reversal, or is it creating an inverted cup and handle? The first picture shows that, long term, it created a cup. The next picture shows that, short term, it had a nice reversal and started forming a wedge. Rising wedges typically fail unless the stock is not as bullish as it appears. Currently, it is right at the 200 day moving average. I would like to see if the 200 day acts as support over the next month. I would like to add that the 9/21 weekly cross hasn’t been crossed in over a year.

$COOK Traeger Another great setup playing out. I don’t have it marked, but $75 and $105 area are both walls for it. It doesn’t mean it won’t break those walls. I’m just telling you where to expect resistance and/or support.