Today’s Swing Trade Ideas

DGLY/Long  (Technology sector)  After forming a bullish kicker on December 2 and a small rally, profit taking took over pulling the chart back to its 50-day simple moving average where it started to create a bottom.  Tuesday formed an inverted hammer followed by yesterday’s gap above the 20-day simple moving average and the Doji.  In the recent past, you can also see a bullish “W” pattern.

My entry plan idea:  In the buy box – between $13.22 and $17.03
My stop plan idea:  A close below $13.19

• WRES was a quick day trade for +30.77% along with SN +12.4%
• On Friday, December 19, we have a special guest (one of our own members) that will present at 2 PM Eastern and you are invited. No password needed; we will post the link tomorrow morning.

Good Morning, 

SPY:   In yesterday’s morning email I posted a pretty picture of what I thought yesterday would end up (bullish morning star).  We had the bullish inverted hammer in place; we just needed the bullish candle follow-through and like magic, it appeared.  It wasn’t magic; it was reading the candlestick signals.  Continue Reading

Today’s Swing Trade Ideas

UBNT/Long  (Communication Equipment) UBNT has formed a double bottom with a Doji Bullish Engulf in early December and a Doji continuation pattern in the last three bars.  A close over the 50-day simple moving average yesterday has set up the rounded bottom breakout pattern.

My entry plan idea:  Ideally buy above $30.74 and below $32.77 or buy on positive trading above yesterday’s high.
My stop plan idea:    On a bearish candlestick signal below 30.74.

Good Morning, 

SPY:   Yesterday was another day where the SPY closed below the T-Line after attempting a monster one-day rally but gave it all back before the close.  I don’t believe the SPY has reached its low; Continue Reading

Today’s Swing Trade Ideas

GMCR/Short (Defensive sector packaged foods) GMCR is forming a dreaded “H” pattern after a lower high failing the 50-day simple moving average. The 20- period moving average has now crossed below the 50-period moving average. I’m looking for GMCR to drop close to another 10%.

My entry plan idea:  On an intraday bounce inside yesterday’s candle or on weakness below yesterday’s close but with caution not to chase.
My stop plan idea:    $136.80

Good Morning, 

SPY:   The overall market remains controlled by sellers in the SPY below the 50-day simple moving average yesterday showing no signs of a true bullish reversal and only possibilities of an Continue Reading