# A Cautious Strategy for Uncertain Markets (And Another Breakout)

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Hey, Ross here:

Here’s another actionable trading idea for you.

## **Chart of the Day**

![](https://stocksurgedaily.com/wp-content/uploads/2023/03/Screenshot-2023-03-30-at-9.34.25-AM-1024x634.png)

**Allegro MicroSystems** (ALGM) is the #1 semiconductor stock in the market. It ranks first among all 31 of its peers in both earnings and relative strength.

The stock put in a shallow base from mid-February to this week with three progressively shallower pullbacks.

It also made a textbook shakeout move on March 13 to run stops and consolidate shares further. Notice how that candle made a new low then rallied back to close the day in the upper half of the candle.

That is a textbook shakeout and usually a bullish sign.

This is a market-leading stock that has shown incredible resilience even in shaky market conditions. If the market is to rally here, ALGM should lead the way.

I have a position in ALGM with a stop loss near $43.50.

**P.S.** Want me to send you special trade prospects and potential market moves directly to your phone? Text the word **ross** to 74121.

## **Insight of the Day**

**The banking crisis could actually turn out to be a net positive by killing inflation without the need for higher interest rates**.

Markets seem to have no clear direction. Depending on what major news comes down the pipeline, it might rally or it might fall.

But over the longer-term period, it seems to have stayed mostly flat. We’re still lacking a clear and sustained direction.

In such situations, I believe the best move is to cautiously play short-term rallies in individual stocks.

Ride the rallies – but always be ready to get out when it starts fizzling out.

**[This “stealth breakout” strategy is perfect for doing that](https://pro.stealthmodeinvesting.com/?tambid=17551)** – so make sure you check out the details while you still can. 

And here’s more good news – for a limited time only, you can get your hands on it for just $5.

Embrace the surge,

![](https://lh3.googleusercontent.com/u1bkP1uK4S8G0S3HvULgVlf5Oo5Wbrv55mAknbfc5OR6vNHNjP1qlrqX2FKnCLs8y4Q5nWZ9PwfIVqxhz-34fL32yao8wdaoiXCbJJ58EmJQpGN3E4bEH0IN7idHTcKiHWk13J9JVX_wS94ti3GRsm8IvwDHfDXbLDoq3cBuIPLlVZxmB1XRqeqcQ7ou_w)

Ross Givens  
Editor, **_Stock Surge Daily_**