CoryMitchell-CMT

CoryMitchell-CMT

Stock is once again pushing toward new highs. Watching for a breakout above 191.50 on increasing volume. Will only take a trade once that occurs, as want to keep the stop loss relatively tight on this one. If this occurs, looking for a target between 220 and 240. Trailing stop loss can also be used. Disclosure: no trade yet, but may open soon if conditions favor it.

CoryMitchell-CMT

Dexcom rallied off the lows of the range and is now consolidating near the top of a year-long range. Watching this one closely. About a 3:1 reward to risk with a stop loss below the consolidation and a target between 196 and 200. Want to see high volume on the consolidation breakout to show there is likely enough conviction to break above the range high as well....

CoryMitchell-CMT

Watching for a breakout (happened) and close above $86 (hasn't happened as of July 18 mid-day). That could signal another advance after a consolidation period below $86. The shakeout/false downside breakout in June was a good sign for the upside. Swing trade target is about 8% above the breakout level, near $93. With a tight stop loss the reward:risk is greater...

CoryMitchell-CMT

The S&P 500 remains in a strong uptrend based on price action. The price has broken out to new highs, but a pullback to old resistance/new support is likely. This could set up a situation similar to 2016. On the other hand, a continued drop below about 2900 could trigger some panic and result in a larger decline. It is also worth remembering that, at least at the...

CoryMitchell-CMT

Currently long on a "front-running" trade for this triangle pattern. (vantagepointtrading.com) After a strong run higher prior to the pattern, looking for a continuation. Will be watching for confirmation with a break higher out of the pattern, and may add to the position at that juncture. There are two targets posted. One is very conservative just in case the...

CoryMitchell-CMT

I like these cup and handle type formations where the handle forms just below the prior high. The handle breakout can usually cause enough of a push to eclipse the old high. A move above the old high then tends to attract more traders which can further add to the push. The reward:risk on the trade is mediocre at 2:1. This is a second-chance entry based on a...

CoryMitchell-CMT

GC .TO is moving higher again after a flag pattern . That pattern also occurred near a prior swing high creating a small cup-and-handle-like pattern. Looking for a move back toward the 2018 high. Around $56 I will start watching it very closely. Any weakness and I will get out. While the reward:risk is about 2:1, the downside is that target is only about 6%...

CoryMitchell-CMT

Price has fallen to a rising trendline and is consolidating after a false drop below a prior low. IF (and only IF) it breaks higher out of the consolidation is this a potential long trade. I like the consolidation because it allows for well-defined risk control, with a stop loss placed below the consolidation or recent low. I also like that the Nov 20 low...

CoryMitchell-CMT

Watching for a consolidation breakout in Bausch. With the market downturn, I haven't taken many long trades lately. But this one popped up on the screener the other day. It is consolidation near a recent high. Prior patterns like this have seen the price run higher... if it breaks the consolidation to the upside. Expected profit is roughly 20%, while downside...

CoryMitchell-CMT

Strong stock is breaking out today on stronger than average volume early in the session. This is the second trade of this type in the last several months, with the last trade running about 40% after the breakout. Once again I am eyeing a target of about 35%, providing a reward:risk of almost 5:1. Disclosure: long

CoryMitchell-CMT

BHC recently broke out of a consolidation after putting in a rounded bottom. This pattern has played out three times over the last year, moving about 20%+ over the former high. This trade takes advantage of that same pattern with a target just under 20% away from the entry and a reward:risk of about 3.5:1. Disclosure: long

CoryMitchell-CMT

Consolidation breakout as the price once again approaches the highs in a long-term uptrend. Rounded bottom-style trade. Reward:risk of approximately 3:1. Disclosure: long

CoryMitchell-CMT

No trade yet. Stock in strong uptrend. Watching for upside break of small consolidation, and then a break to new highs. Decent reward to risk of about 2.75:1...Can also use a trailing stop loss. Target is based on catching the next major thrust only, as the price then tends to consolidate for a while. Trade only considered if the stock breaks higher. If...

CoryMitchell-CMT

ORBK is in a strong long-term uptrend. Multiple times it has consolidated near prior peaks and then broken out for a 10%+ advance. No trade yet. Letting the stock consolidate. It if does, then will consider a long trade on a breakout higher. Do nothing if the stock breaks lower first. High momentum stock, so could also use a trailing stop loss for exit instead...

CoryMitchell-CMT

The stock is in a long-term uptrend. It pulled back and found support near $19 on multiple attempts to move lower. With some recent strength, there is the potential for the uptrend to continue. Decent reward to risk. If we don't see follow-through strength in the next couple days, the pullback choppiness will continue until we get a definitive break, preferably on...

CoryMitchell-CMT

Interesting setup here in a relatively new stock. Pulled back from a strong trend. Has popped out of the pullback, and another pop from this tight consolidation could send it up and away. Beware of the low volume. Reward:risk is quite good...assuming we can get a similar rally to what has happened prior. Could also use a trailing stop loss, such ATR...

CoryMitchell-CMT

Generally trade stocks in strong trends, but the turnarounds can be good as well. Strong price action starting in March, with a cup and handle type formation. Provides for a decent reward: risk with a stop loss near $4.60/50. Price needs to break and hold above $5 to signal another advance. Disclosure: long.

CoryMitchell-CMT Updated 

Long-term uptrend. Generally, quick turnarounds following the pullbacks. Decent reward to risk, although expected percentage gain is not that high. Have had a quite a few trades in these timber stocks over the last couple years. Trade triggered on Friday. If not in, need to wait for a pullback to the entry area (only if it happens in next day or two)....