TZA (Small Cap Bear 3X) Has formed a bullish engulf with follow-through closing over the T-Line. Today or early next week we could see a close over the 50-day SMA.
My entry plan ideas: Already own, buy over the T-Line
My stop plan: Close below the T-Line
UCTT (Technology Sector Semiconductor Equipment) UCTT was a featured trade idea on July 23, 2014. It could have been traded for about a 12% profit. After a profit taking pull back, UCTT has now presented a morning star PBO ready to take on the 200-day SMA and a 15-30% move.
My entry plan ideas: Buy on positive trading above the T-Line and 20-day SMA
My stop plan: Close below $9.65
Last week we discussed the very basics of candlestick charts: what candlesticks look like, what their shape conveys, and how you can begin to understand them. Today we’d like to take that lesson one step further. Now that you can interpret a candlestick’s meaning, let’s talk about the various formations and patterns you’ll encounter in candlestick charts and what they suggest. Understanding candlestick charts (both the logistics and complexities) will take some time, so for now, we’re sticking with the basics. Let’s get started!
<h4Today’s Swing Trade Idea
DATA (Technology Sector Software) DATA is forming a bullish “W” pattern that closed strong above the big 3 Friday. The 200sma and the July 1 high is the next logical target and obstacle then on to the races. Looking for about a 30% trade.
