Last September the market when through a correction as it traded in a range for a few months before continuing its climb higher It can be hard to remember the action from a year ago but we are starting to see the same patterns again What are your thoughts?
DIA Large Caps Shifting from Breakout to Range Bound Market We are currently seeing the large caps starting to trade in a 6% range at the moment and could continue to see this as they consolidate the gains they have had so far this year
UPS has been basing in a $10 flag between $190 and $200 After a few attempts at $200 and higher lows forming Could be a tight risk entry up off of recent support for a move back to prior ATHs ($220)
SFIX has recently pulled into support and held More recently it has formed a bull flag in a $4 range between $44 and $40 Above $44 looks good for a move higher the only downside is that as small as this range looks its still a 10% range in the current flag
MTB has been basing under $144 all summer While putting in higher lows first at $128 Then at $132 In time as the next higher pivot low forms the risk to be involved in this base breakout continues to get smaller and smaller Target $168
GL has been basing in this $98 for some time now With higher pivot lows first forming at $90 then $91 and now $94 The risk if wrong are getting smaller and smaller The 1st target would be a move to $104 then a retest of $108 in time
AFL put in an All Time High (ATH) back in May right under this $58 Level It came back and retested it in June, yet as we know the retest is often met with sellers trying to get out for breakout or selling because the stock cannot go higher (as they tend to think) Back in August AFL has worked its way back to this $58 level and has continued to put in higher...
As the market climbs to new highs It does so on a wall of worry The market has to crash! Are common thoughts when usually the opposite is what tends to follow With that being said for those that are nervous a simple approach to limit your downside can be by trailing your position by the recent pivot low Now you will at some point get shaken out and more often...
VNQ is setting up for a Blue Sky Breakout above $108 in time We can see the most recent pivot low holding around $101 With a mini pivot vs $104 We would look to entry above $108 with a stop vs the pivot low of $101
DIS has been consolidating for most of 2021 between $188 and $168 in a $20 range Over the last 5 months the range has started to tighten up with a few breaks of $180 but this soft level still acting as resistance We are seeing the buyers step up as they continue to form higher pivot lows ($168 to $170 to $171 to $172 to $176) Each time this happens buys and...
WDFC has bear flagged near its recent lows in a tight $6 range Not being able to trade above $236 While not being able to trade below $230 (for now) This is a text book short set up on tight risk down through $230
After ALRM gapped up on earning it was quickly sold off It continued to do so for 11 days in a row as it came into its major support area ($75) As It came in and held that major support area of $75 We started a position above the high of day Buying above $78 vs $75 ($3 risk per share) As it ran back to $84 and pull back to $80 We are seeing another low...
We started a position in MTCH up through $136 vs the low of major support vs $130, as it held, put in a higher pivot low, we will look to add above $142 vs $130 with the main goal of holding at least till $170
HON Swing Trade Set Up Bull Flag forming on the daily 3rd Times a Charm through the all time high level Target $200+ Entry $184.05 Stop $169.89 What are your thoughts on this swing set up?
We can see how over the past 5 years PPG has not been able to break $120 on this weekly chart We can see the clear level of resistance under $120 While we can see the buyers steeping up creating higher lows over the same time period We will be buying PPG above $120 vs $112 for now, looking for a move to $160 over the next 6-12 months
PFPT has been bull flagging under this $128 level since mid 2018, now that it is finally starting to breakout above these levels, we took a long position above $130 and will look to add above $132 vs $120, longer term we could eventually see this in the $160s+ in the next 6-12 months.
After a monster run up off lows with a doji at highs, time to start preparing for the turn.