Monero (XMR) and Cardano (ADA)
By Thu, May 13, 2021
Last week, we shorted the Nasdaq.
So far, that’s working out well.
Stocks are messy at best…
Bonds are messy…
But cryptos are hotter than the sun right now.
That’s why today’s Chart of the Week is a two-for-one.
We’re looking at Monero (XMR) and Cardano (ADA).
Both are breaking out strong.
We are long in Monero above $470 with a target of $740.
For ADA, we are long only above $147, with a target of $340.
A ton of upside for both of these, with major upside and minimal risk.
Just how we like it.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
