Today’s Swing Trade Ideas
ATEN/Long (Technology) ATEN is no stranger to our trading room, a few weeks ago many from the room profited from this chart. On January 15 ATEN posted a low followed by an inside day (bullish Harami), followed by a high then a higher low. Friday printed and 8.27% candle and the chart appears to be on its way to a J-Hook breakout. I will be watching for 20% move or about the $6.50 area as the first target then price may climb through the window.
Possible entry plan idea: Inside day Below 5.37 or on a slight breakout
Possible stop plan idea: A close below The T-Line
Good Morning,
SPY: After a solid close above the 50-period moving average last Thursday, an inside day (Harami) was printed Friday still closing above the 50-day simple Continue Reading
Did you ever play with spinning tops as a child? Simple but amusing, these tiny toys have existed since antiquity. If they’re spun precisely and very quickly, they remain balanced on their tips due to inertia. In the world of Japanese candlesticks, spinning tops were the inspiration for the naming of the Spinning Top candlestick pattern. Similar in shape to its toy counterpart, with a short body and two long wicks, the Spinning Top is a common but important candlestick signal. To learn more about this unostentatious candlestick, please scroll down . . .
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Today’s Swing Trade Ideas
MCEP/Long (Energy Sector ) SX90/XLE led the way yesterday both with a hammer on January 14 and the follow-through has led them above the T-Line ready to cross the 20-period moving average. MCEP formed a bullish piercing candle on December 17 followed by consolidation and a bullish scoop pattern. Gapping yesterday and closing above both the T-Line and the 20-period moving average leads me to believe the next short-term swing target could be around $7.40 which is a 30% trade and another 30% on bullish follow-through to the 50- period moving average.
Possible entry plan idea: Inside day or breakout of yesterday’s candle
Possible stop plan idea: A close below $5.59
Good Morning,
SPY: It has been pretty obvious the market was waiting for the ECB announcement of the ECB-QE the last few days; so now what? Easy, and back to the Continue Reading
