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
Today’s Swing Trade Ideas
TASR/Long (Aerospace and Defense) I could really kick myself for not buying TASR yesterday as it started moving up through the 20-period moving average. We talked about it in the trading room and several of our members did take advantage of it. Yesterday’s close produced a bullish morning star signal after a run from late October with a slight profit taking pull back starting in late December.
Possible entry plan idea: Inside day or breakout of yesterday’s candle
Possible stop plan idea: Below $29.50
Good Morning,
SPY: Yesterday’s close at $202.05 put us back in the symmetrical wedge that we had drawn a week and a half ago. Any trading within that wedge is simply Continue Reading
Today’s Swing Trade Ideas
EXK/Long (Basic Materials Silver) EXK had four days of consolidation after a Rounded Bottom Breakout (RBB) pattern. Friday printed a bull kicker-type signal and the combined overall pattern has the possibility of a 30% plus return.
Possible entry plan idea: Positive trading over $2.73
Possible stop plan idea: Below $2.49
Good Morning,
SPY: Friday’s bullish piercing candle, two cents from a Bullish Engulf and what appears to be no bad news over the long weekend Continue Reading
