MU (Technology Sector Semiconductor Memory) MU has been forming a top with lower highs with a bearish evening star formed at the big three and T-Line leading down below $29.50. The 200-day simple moving average becomes the target.
TZA (Small Cap Bear 3X) Also featured on September 5, TZA has now formed higher lows and higher highs. Friday’s close is set to launch the higher high today. The bullish rising method painted in the TZA picture will try to launch price into the low $16 area and then maybe try to sneak to the 200-day simple moving average. This would be about a 12-1/2% swing trade from the featured date.
ARNA (Healthcare Sector Biotechnology) The candlesticks are showing a double bottom yesterday, and ARNA had a 9.49% move closing close to the 50-day simple moving average. This could be a sign that the bottom is starting to build, and the rally we are looking for is near. The potential trade is about 30%
FEYE (Technology sector software application) FEYE has the potential of a 35% move with almost a five-month base after its decline and appears to be taking control. Yesterday’s bullish morningstar signal over the big three is the indication of the possible rally and attack of the 200-day simple moving average.
REXX (Energy Sector Oil and Gas) REXX started its move in early August with a run to the 50-day simple moving average pulling back slightly and closing over the big three on September 15 and showed follow-through yesterday with about 17 1/2% to the 200-day moving average. REXX is looking like a chart we could profit from. Note the energy sector is forming a bullish morning star signal.
TZA (Small Cap Bear 3X) Featured on September 5th. Last Friday, TZA formed a bullish harami closing over the T-Line and 20-day SMA and looks to want the 50-day SMA. Over the 50-day SMA, we could see the 200-day SMA, about a 12% move.
My entry plan ideas: (Already own TZA) Buy over $14.22
My stop plan: $14.14
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
<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.
GALT (Healthcare Sector Drug Manufacturer) GALT is a chart setup that I call the “Pinball” strategy. It’s this particular strategy that personally took me from a want-to-be trader to a full-time trader. You may have heard me refer to this as my little ATM machine. GAL T has produced a bearish gap followed by residual selling and then buying. You can see the higher lows, and now price has crossed and closed over the T-Line as well as the 20-day simple moving average. With approximately 20% to our first target and then a possible 30% to the 50-day simple moving average area, GALT is a high-probability trade.
