Top Trade Ideas - May 22nd

A new week brings new thoughts and preparations.

Short sellers and bears felt pain on Wednesday and Thursday last week as the S&P 500 and NASDAQ rallied 2.1% and 3.2%, respectively.

This strong move does set up some good breakout plays, especially in tech names.

Our equity ideas played out nicely last week. Starting with Affirm, the stock hit our entry at $12.00 and quickly moved to $14, reaching a high in the week of $14.70.

SGML got a nice move from $40.70 to $42.70. Although it didn’t reach our target last week, the technicals look set for a further move. So keep that one on watch. Our other pick, RMLY, has also broken higher and looks good for continuation.

Wednesday this week brings us UK inflation figures and US FOMC.

If this is your first time seeing our trade ideas, we highlight several equity longs/shorts ahead of the week, three FX trades we are watching and some index and commodity ideas. You can view this article for free by going onto the website version and using the 7-day free trial.

Onto the ideas for the week…