One of Today’s Featured Trade Ideas
ABMD/Long (Healthcare, Medical Devices) Over the past few months, ABMD has formed a symmetrical triangle flirting with the big three and the 100 SMA. This past week, ABMD has had a little run bringing price back over the T-Line and 20 SMA with a little flag at the end of last week and a Friday breakout. ABMD closing Friday at $72.33 puts it in striking distance of the $100 price target.
ABMD Trading Plan (Entry, Stop, Target) Click Here
Something to think about:
Rule #19 — Don’t chase a trade.
SPY: The Bulls definitely controlled the market as well as the SPY last week, rallying from a low $204.95 to a closing $212.48. Here we are back near 2015 highs and the question is: Will the Bulls be able to find a new high? Last week was certainly a powerful bull run. Let’s just keep our wits and common sense about us. Price is a little overbought compared to the T-Line, and we’ve not seen any real consolidation in the last six trading days. Let’s not let greed get the best of us and realize that all bull charts have profit-taking now and then.
IWM: IWM has consolidated the last three days of last week holding above the T-Line and the big three, what I consider a bullish move. Unfortunately, if it continues to form a right shoulder, we could end up with a confirmed head and shoulders. Only time will tell.
SMH: SMH is desperately trying to form a bottom pattern. We just need to see the confirmation and a close over the 200 SMA could prove to be that confirmation.
IYT: IYT is nearly up to the bearish downtrend line which would signal that the Bulls are starting to take charge. With a successful close over the downtrend line, the Bulls may want to attack the 200 SMA.
This Week’s Economic Calendar—> Click Here
Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (maybe more) within the next few days based on the charts. As you know some work and some don’t…Welcome to trading. Please follow your trading rules for entry stops and profits. Remember to check for earnings!
To see all of today’s trade ideas Click Here
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.
| Members only | Date | Long/Short | Try our Membership, Check out the Trading Room | |
| 7.20.15 | Long | BOPT above T-line | ||
| 7.17.15 | Long | BOPT above T-line | ||
| 7.16.15 | Long | BOPT above T-line | ||
| 7.15.15 | Long | BOPT above T-line/caution | ||
| 7.14.15 | Long | BOPT above T-line/caution | ||
| 7.13.15 | Long | BOPT above T-line/caution | ||
| 7.9.15 | Long | BOPT above T-line | ||
| 6.30.15 | Short | Watch price and T-Line | ||
| 6.23.15 | Long | BOPT above T-line | ||
| 6.17.15 | Long | Profit taking soon | ||
| 6.12.15 | Long | Manage your trade/BOPT | ||
| 6.11/7.1 | Long | BOPT above T-line | ||
| 6.9.15 | Long | BOPT above T-line/caution | ||
| 5.30.15 | Long | Caution | ||
| 5.21.15 | Long | BOPT above T-line | ||
| 4.28.15 | Long | No trade | ||
| 4.13.15 | Long | BOPT above T-line/caution | ||
| 7-8-14 | Long | Earnings July 21 |
VXX S&P 500 VIX Short Term Futures: A close above the T-Line ™ implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
Energy Sector: XLE, SX90, ERX, USO A close above the T-Line ™ implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
SMH: A close above the T-Line ™ implies the above short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
IYT: A close above the T-Line ™ implies the above short-term bullish swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
US Dollar Index: UUP, DXYO A close above the T-Line ™ implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. Learn more about the T-Line – Click Here
The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.
Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.
http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.
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