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VCP

$SCCO Bullish Copper ChartSCCO is a nice setup in my opinion. After a nice +250% rally, SCCO has formed a solid VCP pattern with nice rounded base and appears to be ready for the next leg up. Started a position here and will add on a break above 80. For those looking for less, risk can alarm the breakout and go long there, as we may get one more dip to shake out weak hands before more upside. I'm long the JUN 90 calls to give this trade time to work , with 2,300 OI First price target $96
NYSE:SCCOLong
by FriscoTrades
Anthem, Inc. $ANTM flashing a VCPAnthem, Inc. is a provider of health insurance in the United States and is ranked 23rd on the Fortune 500. Fundamentals are very strong, it has an average YoY revenue growth of +14% for the las three quarters, and the last two quarters had EPS and Margin growth over the hundreds. IBD is giving NYSE:ANTM a #1 rank in its industry group and a 94 relative strength rating. That is synonymous of good fundamentals accompanied by very good technicals. Relative to the NASDAQ, the index has done three lower lows as NYSE:ANTM has done three higher lows. That is the kind of action a future leader does. Also, if you compare it against its sector AMEX:XLV , is doing way better. For the las 5 weeks, the price has been making a classic VCP with a pivot buy above $472. Today had a bad close but with low volume, that is a good sign. But, as the market is still in a correction, breakouts aren't working very well. Is time to be cautios so, if the breakout happens I'll buy 1/4 of my typical position sizing.
ALong
by dpuleo19
2