If you’ve ever wished upon a star, I hope that that star was a Morning Star candlestick pattern. Unlike the Evening Star, an omen that hints at bad things to come (i.e., low stock prices), the Morning Star is a sign of good fortune. If you spot this bullish reversal signal, which is composed of three candles, you can expect stock prices to increase. Although the bears have been in control, the bulls are ready and able to take over. To learn how to spot the Morning Star signal, how to decipher its characteristics, and how to interpret its meaning, just scroll down.
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Today’s Swing Trade Ideas
BCOV/Long (Technology Sector Software Application) After Friday’s breakout on high-volume BCOV has become a rounded bottom breakout with about 45% profit measuring from the 50 day simple moving average. Notice the candlestick rounded bottom for the past two weeks.
My entry plan idea: On a pullback below 6.55 and above the 50sma
My stop plan idea: A close below the 50sma area
Good Morning,
SPY: At the close on Friday, the SPY printed a hanging man candlestick signal which implies the sellers may try to push price away from its Friday high. Continue Reading
Today’s Swing Trade Ideas
GALT/Long (Healthcare sector drug manufacturers) GALT Looks poised for a run positioned in a Rounded Bottom Breakout (RBB) and a Doji continuation pattern or Doji sandwich. $6.50 would make a good target which equals about 18 1/2%, then about $7.70 which is about 40% away. At that point, we will then consider the 200-day simple moving average.
My entry plan idea: Below $5.49 and above the T-Line would be my preference; buying above $5.49 would also work. Just monitor the pullback.
My stop plan idea: A close back below the T-Line
- Live Trading Room Password Change this weekend.
- FYI Tuesday’s Member E-Coaching can be found from “Member Blog” “Stock Chat Archives” – Login required.
- The leaves are changing colors again. It’s time to turn back the clocks. As you find yourself with an extra hour, I hope you find a little something extra to enjoy – a nap, a walk or perhaps breakfast with your family and loved ones!
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Today’s Swing Trade Ideas
APT/Long (Healthcare Medical Devices) APT had a huge run a few weeks ago, it’s now pulled back to the 50 day simple moving average and near a double bottom. It appears it’s gapping this morning and $4.15 will be an important area to hold. APT has the potential of a swing trade of 20% to the 20 day simple moving average and another 37% to the crown.
My entry plan idea: (Currently own @ 3.78) Buy on positive trading above $4.15
My stop plan idea: A close below $4.14
Good Morning,
SPY: Yesterday I wrote that if the bulls could defend the 50-day simple moving average and price close above it, I would remain…
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