Today’s Swing Trade Idea
FREE (Industrial Sector Shipping and Ports) Be very careful here; this trade is not for everybody and is meant to have a little fun with. It’s a cheapie that can be wild and crazy. FREE has started to construct a bottom starting July 23, laid some foundation and then started to rise Wednesday closing over the 50-day simple moving average yesterday. This has made FREE a rounded bottom breakout candidate with about 30% short-term profit potential. As mentioned above, be careful with this one as it can turn and be painful. This type of trade is not for everybody.
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In the days of yore, there were fur traders, spice traders, and textile traders, amongst others. These days, you’re more likely to run into a day trader, swing trader, or scalp trader. The question is: do you know how to distinguish between these different types of traders? If not, have no fear! Today we’re looking at swing trading vs. scalp trading. We’ll compare some of their pros and cons, giving you a glimpse into the world of investing. And if you’re interested in trading, this quick analysis might help you decide which type of trading best suits your personality and talents. Swing trading vs. scalp trading: let’s get started!
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<h3Today’s Swing Trade Idea
ZLTQ (Healthcare Sector Medical Devices) ZLTQ has formed a bullish morning star PBO and exploded with buyers yesterday. I am looking for a challenge of the January 16 highs which is approximately 22-1/2% of profits. ZLTQ is a chart that was discovered by one of our members 1973Hog a couple of days ago. Many of the members in the trading room bought near the $19 area when Steve posted it. Today it is a featured trade idea because of the strength that it’s showing for the target above. Thank you, Steve.
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Today’s Swing Trade Idea
CVLS (Healthcare Sector Biotechnology) CLVS has successfully formed a rounded bottom breakout after constructing a double bottom. Currently the last three bars are set up as a continuation pattern with about a 20% target followed by another 16% target.
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Today’s Swing Trade Idea
SPEX (Industrial Sector Business Services) There is 160% of profits to be had to the 200-day moving average and forming a rounded-bottom breakout, which, FYI, is my favorite chart pattern of all! SPEX closed over the big three yesterday after forming a higher low double bottom chart pattern. It pays to be in the Hit-And-Run Candlesticks trading room during the day. One of our members pointed SPEX out when it confirmed the rounded-bottom breakout. We went long at $1.73.
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