Best Stocks to Buy Now in August 2020!

published on August 2, 2020

Hey everybody this is ryan maurer and we're going to do some swing trades for the month of august we're going to talk about what i think are some of the best trade setups that are out there now the stock market has been rallying for months on

End now following a huge sell-off with the coronavirus and so there's a lot of slim pickings right now there's not a lot of great trades set up so we really got to turn over a lot of rocks here to

Find some really good solid risk reward trade setups that i talk about in all my videos it's not about just jumping into the most hyped up stock whether it's kodak or

Tesla or silver it's about finding those setups that are the best risk reward plays here because you can make all the profits in the world but one slip up and you're done

Four so let's go ahead and look for some good solid trade setups here that we might be able to find beneficial in the days and weeks to follow now there's a lot of talk about when is this market ever

Going to top i mean we just had earnings we had amazon we had facebook we had apple we had google they all blew out their earnings they're all trading higher it's mind-blowing after hours to see

This kind of price action to see the nasdaq continue to push higher to new all-time highs it's very reminiscent of the 1990s when the stock market pulled back about 30 and then went on a triple

In price before it finally had that 87 pullback so the hype is real there's actually earnings this time whereas in the dot com you didn't have that that doesn't mean that it's sustainable

The trajectory that the market is on across the board so the s p 500 it's looking at making a play to all-time highs the nasdaq's already done it the dow is not too far behind and the russell index which has none of the fang

Stocks are actually looking to go positive on the year so what kind of stocks can we look at i've got some unique setups here now remember none of these setups are guaranteed to be winner i'm not like

These other blowhards on youtube where they're going to talk about hey this is the stock that's gonna make you a million dollars or a thousand dollars a day i don't do that i give you the reality

Of the trade setups i tell you look this is your setup this is where i would find to be an ideal entry price but if the trade goes against you this is where i'll be getting out at this is the kind of trade setups that

You need to be seeking not after these get-rich-quick schemes that everybody seems to flock after no stock market is not easy if it was easy everybody would be in it everybody be rich that's not the

Case nor has it ever been the case yes there's some people that are doing really good maybe they've made a few thousand dollars maybe they've made a million

Dollars but in the grand scheme of things they're either a thousand here or a millionaire on paper it doesn't even matter because in the end they won't manage the risk and they'll lose it all what i want you to do is to be able to

Keep it all and you do that by managing risks so let's go ahead and jump into four long setups and one short setup we're gonna start that right now the first trade setup that i want you to look at

Cgc canopy growth now you have this very long-term inverse head and shoulders pattern which but check this out huge neckline now in order to get long on this stock i would need for it to break through about 2060

With a stop loss right below 1808 that's actually the lows from july 30th it needs to hold those lows and it's a little bit of a wide stop loss it's a little bit more than what i would typically use

A little bit more than a 10 stop loss but there's a huge opportunity here for it to get to 25 which would be the highest from january if it could break through that there's even the potential for a gap feel going

All the way back to august of last year so there's some huge opportunity here from anywhere of 3 to one to five to one in terms of reward to risk ratio and when i talk about the reward to risk ratio it's really talking

About how much money or profits can you realistically expect to make off of a trade for the amount that you're risking so if you can make

Five dollars for every dollar that you're risking that's a pretty good trade setup you don't find a lot of those very often not at least in trading investing yes but investing it takes a little bit longer to realize

Those gains and trading if i can get two to one or three to one that's usually a pretty good trade setup right there here on cgc you have about five dollars of upside

For about two dollars a downside so you have a reward to risk ratio of about two and a half to one if it reaches that gap and fills it around 30 then all of a sudden you got almost

Five to one not too bad now remember cgc reports earnings on eight twelfth i am not a fan of holding through earnings some of you guys may be but you gotta know that there's a lot of risk that goes into

Earnings these things can drop twenty thirty percent at the drop of a hat so be aware of it i don't hold stocks through earnings but i like to say in my videos that there is a lot of risk that goes into these

Earnings now a little bit less risky is the netflix nflx check out this rising uptrend off of the march lows now if you can get in under 496

That's ideal but it needs to hold this rising trend line but even more so the 50-day moving average check out the 50-day moving hours because like the last four times that it's tested this 50-day

Moving average it's held and bounced pretty well so if it holds the 50-day moving average that's a good thing even if that means dipping a little bit below the rising trend line but if it gets below 462

Which is where the 50-day moving average currently is then that's my exit out of the trade now let's say netflix makes a push back to its all-time highs more than a 10 percent

Move which is ideal and gives us a reward to risk ratio along the lines of about two and a half to one that's nice too you also have a little bit of a rising support level going back

To the april highs that holds at around 477 so you have three support levels you have the rising support level you have the rising trend line and you have the 50-day moving average

All three of those if they don't hold that's your sign to get out of the trade but if they hold there's a good opportunity for us to see new all-time highs again and netflix and if you look at the stochastics down

On the bottom it's coming off of oversold levels so it's primed for a bounce right now and with the fang stocks doing so well during earnings i expect that we'll see a papa in this stock now the next chart

Is a playoff of the bitcoin phenomenon gbtc check out the declining trend line here it's finally broken above it it's pulled back to that support level and it's trying to bounce

Now that's where you want to really be targeting your entry price here if you can get long somewhere between like 12 35 and 13 that's your ideal entry space right there

If it pulls back and drops below the july 30th lows that's where i would want to get out at because then all of a sudden it's breaking that support level that it bounced off of and that's not a good

Sign either now you also have a rising trend line going back to the march lows that has still continued to hold but it's so far away it doesn't make for a good place to put your stop-loss at

But the one thing that i really like about the bitcoin chart and i've been charting it for like the last two two and a half years now is that it behaves very well technically but now you've also got to remember

It trades 24 7 so there is a very good chance that you could wake up to a significant gap lower or higher obviously if you're long and it gaps higher that's a good thing but over the weekend it still continues

To trade it's just not reflected into this particular chart here but look at the volume that's been pouring in in recent days this thing's also rising in sympathy with like silver and gold so there's a

Good chance this thing continues to march higher as long as the commodities remain a pot sector now check out twitter again another inverse head and shoulders pattern that has confirmed it's

Broken out but it's pulled back to the neckline of the inverse head and shoulders pattern and it settled in here quite nicely now with facebook earnings being so positive i'm now looking for a rally out of twitter now you see there's

A four-day consolidation pattern here i want to get long on a break of that four-day consolidation pattern around 3760 if it breaks through that then we want to see it get through the 40

Level there's a potential for it to get as high as 45 dollars here and it's already reported earnings that's a great thing too now in terms of stop-loss if it breaks back below the neckline i'm outta here

That means that the trade fell apart it's not a good one to be in any longer that's going to be around the 3560 level those are the trading parameters that i'm going to be working with going forward

So you have a possible price ceiling of 4546 which gives you about an eight dollar per share reward versus about a two dollar loss so that's about a four to one reward to risk ratio again

Those are the kind of trades that you want to look for in the stock market now the last one is beyond me not beyond me beyond meat you have a head and shoulders pattern it hasn't yet confirmed but it's getting

Really close i'm looking for it to break the 120 level if it breaks that then that's where i want to get short at but i'm going to put a stop loss a little bit above 130 there because you have some consolidation a bear flag

Perhaps and if it can break back above that i want to get out of that trade but overall it's a pretty well formed head and shoulders pattern now the thing about shorting stocks is

That it's very difficult in this market you get some good short sets but they erode away technically that may happen with beyond meat because when you have a market that's constantly rallying it can pull up a lot of stocks

And sympathy that may happen with beyond me i'm not 100 sure but you want to be aware of it i still want to give you guys trade setups in both directions

Now right now it's predominantly to the long side but i still want to throw out a short set up there for you to take a look at also i'd encourage you support this channel buy some of the merch

That you see down below it helps me continue to put out some really great videos i appreciate that these are some of the softest shirts you've ever seen they're great i bought like six of them the

Other day they're wonderful there's other stuff down there too but it helps the channel it helps me grow i'd encourage you to go ahead and buy some of the sweet merch down below and

If you like this video make sure that you like it and subscribe so you get notified when i make more of these videos down below i want to hear about what stocks that you're targeting for the

Month of august which ones are setting up the best for you because there's a few of them out there they got earnings coming up so i'm going to wait for them to report their earnings and then make my

Move on them then but right now these are the trades that i'm looking at of course nothing's a guarantee in this market but these are the ones that i find the most attractive at this moment in time

Take care god bless

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