PEIX Long; (Basic Materials Sector – Specialty Chemicals) PEIX has been trending well from mid-June, with a pullback back to the 20 day simple moving average forming a J-Hook pattern and a type of bullish morning star. If you take a look at your weekly chart you can see there is a very profitable upside.
I have been contacted by many traders over the last few days, the concern about the recent selling. Some traders are confused or reluctant to place a short trade. The answer might be the Inverse ETF’s, you would trade them just as you might trade a long trade. I have prepared a list of Inverse I follow. You can find the list below.
No trade ideas today; it’s very important to manage what you have
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Long: XXXX (Healthcare Sector Biotechnology) Daily Trades Ideas and trade is is for members only, Please consider becoming a member
Long: PEIX (Basic Materials, Specialty Chemicals) PEIX has had quite the bullish T-Line run in the recent pullback has produced a hammer followed by a bullish continuation. PEIX is currently fighting a double top if the buyers can outnumber the sellers in the bullish trend breaks through in continues I’m looking for a 30 to 40% move, small consolidations along the way and then even higher.
Long: EGOV (Technology Sector Software) Chart pattern – rounded bottom breakout, after the Doji on July 10 the buyers stepped in with a bullish gap over the big three, followed by profit taking and consolidation walking along the 50 day simple moving average. The last three days we have seen a morning star type candle pattern.
Long: AAPL (Technology Sector Consumer-Electronics) Apple is forming a bullish continuation pattern above the T-Line. The pattern is over the last three trading days with a gap and bullish close on Wednesday of last week followed by an inside day Doji on Thursday and then Friday closing with a little Bullish Engulf. We have targets in the $100 area and higher. AAPL was also a featured trade idea on July 8, 2014.
Long: UCTT (Technology Sector Semiconductor Equipment and Materials) UCTT is a rounded bottom breakout with about 15% to the 200 SMA. UCTT broke through the big three on June 30 and has consolidated and pulled back to the 50 forming a morning star signal/confirmation pattern.
Long: PLUG (Technology Sector Electronic Components) After last week’s gap over the big three and a two-bar pullback finding support on the 20-day simple moving average, 34 EMA and T-Line and then Friday’s Bullish Engulf indicated that the buyers are still involved with PLUG. And with about 30% to our next target, PLUG is our featured trade idea today. Follow the candlesticks, the T-Line, and the 20-day simple moving average.
Long: (No trade Idea today) .
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Good Morning,
Our thoughts and prayers go out to the passengers, families and crew of the Malaysia aircraft that crashed yesterday. Innocent families, so sad and needless.
