Today’s Swing Trade Ideas
SPEX/Long (Industrial Sector Business Services) SPEX has been forming a fry pan bottom for the last four months and recently closed over the 50-day simple moving average on volume. It then consolidated for a few weeks and is now back over the 50-day simple moving average with the T-Line and the 20-day simple moving average following price. With the close of Friday, we have formed a rounded bottom breakout. With about 90% possible profit to the 200-day simple moving average, SPEX could be a profit maker. Back on September 30, I did buy and have continued to hold. As of Friday’s close with a 12% profit, SPEX is now set up to grab a good piece of that 90% possible profit.
My entry plan idea: (Already long) Buy or add more on an intraday pullback
My stop plan idea: A close below the 50-day simple moving average for now
Good Morning,
SPY: I would suspect that all eyes will be watching what price does with the…
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Today’s Swing Trade Ideas
XON/Long (Healthcare Sector Biotechnology) XON has formed a bullish J-Hook breakout within a RBB strategy along with a bullish “W” pattern. Keep in mind, with yesterday’s 11.5% day, we could see a little profit taking which would offer a good entry for about 17% to target.
My entry plan idea: Inside day buy
My stop plan idea: A close below the T-Line
Good Morning,
SPY: Admittedly, I was not expecting the bullish open yesterday on the SPY, but then again, it did close with a possible…
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Today’s Swing Trade Ideas
ISNS/Long (Technology Sector Software Application) ISNS is setting up to possibly be one of our Rounded Bottom Breakouts (RBB). It hasn’t broken out over the 50-day moving average yet, but if it does, it could easily run to the 200- period moving average which is about 15% from the 50-period moving average. ISNS has been trading in a bearish manner for a few weeks. A few days ago, a Bullish Engulf was printed followed by a couple of Doji’s and then another very small Bullish Engulf with a volume breakout, yesterday’s close over the T-Line and the 20-period moving average.
My entry plan idea: Below 3.33 and above the T-Line
My stop plan idea: A close below the T-Line
Good Morning,
SPY: Yesterday, a bearish dark cloud cover was printed on the SPY after reaching a new high into resistance. A bearish dark cloud cover does not necessarily mean…
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