Market momentum remains strong, but potential game-changers loom on the horizon: the FOMC Minutes, Jobless Claims, and Jerome Powell’s address at Jackson Hole. These events could significantly impact market dynamics.

While many traders grapple with the stress of interpreting news and headlines, I’ve adopted a different approach.

My strategy?

Let price action guide my decisions.

This method helps me sidestep personal biases about the market or individual stocks. Admittedly, divorcing emotions from trading isn’t easy, especially when confronted with alarming headlines.

That’s where tools like the S.A.M. AI Scanner prove invaluable.

This scanner not only replicates the setups that transformed my trading account from $37K to $2.7 million in just four years, but it also uncovers opportunities I might otherwise overlook.

Case in point: today’s watchlist features Monday.com (MNDY), a stock that wouldn’t typically catch my eye.

Monday.com is a cloud-based work management platform that helps teams organize, plan, and track their projects and workflows.

It offers customizable tools for task management, team collaboration, and process automation across various industries and departments, allowing users to streamline their work processes and improve productivity.

Industry giants like Coca-Cola, Hulu, and Adobe trust Monday.com for their operations.

But it’s not just about the client roster – its stock performance has been amazing.

With a remarkable +40% gain this year, Monday.com (MNDY) has caught Wall Street’s attention.

The S.A.M. AI Scanner suggests more potential upside, identifying A+ setups including squeezes on 4-hour and 2-hour charts.

MNDY’s recent price action is particularly impressive:

• Strong earnings response: Shares jumped from $225 to $260 on August 13.
• Consolidation phase: Four trading sessions of stability post-earnings.
• Approaching 52-week highs: Potential for a breakout.

This pattern – an earnings pop followed by consolidation – often precedes further upward movement.

MNDY’s chart suggests it’s primed for such a move.

Moreover, with the stock near its peak, there’s minimal overhead resistance.

No underwater shareholders are waiting to sell on the next rise, giving MNDY a clear path upward.

Action Plan: Based on the S.A.M. AI Scanner's findings, I’ve opened a long position in MNDY. Given the stock’s relatively high price, I’ve opted for call options to express this position.

This strategy allows me to cap my risk while maintaining significant upside potential.

Ready to elevate your trading game?

Discover how the S.A.M. Scanner can transform your approach by clicking here.