Stocks struggled late last week, unable to break out from the recent trading ranges. They’ve yet to break down though, so until we see one of the range boundaries crossed we can expect more back-and-f0rth.
I reserve my daily trading plan for members of the site, but I wanted to share 5 setups of interest with you as we head into a new week of trading.
Put them on your radar and keep assessing them daily. As setups are negated or fail, seek out some replacements. As setups confirm their patterns, observe their price and volume behavior closely to gauge whether or not they still have some gas in the tank.
By the way, I do not have any positions in the stocks listed and am only interested in entries beyond the highlighted levels. Should price fail to push beyond the levels listed, I’ll take no action. Here we go:
AAPL has been quiet of late while remaining beneath the multi-month descending trend line. A push north of $536.25 could free it up to move higher.
SODA has made higher lows in recent weeks but needs to clear short-term resistance. A rally through $43 would enable the recovery to continue.
HOT continues to channel lower but still isn’t far from resistance. An upside breakout could bring a quick return to the recent high.
ALJ is sitting in a tight bull flag and an upside breakout would pave the way for a possible test of the January high.
TSLA is testing support and a new pullback low at $227 could produce at least one gap fill, possibly two.
Through the nightly service, I share swing trade setups with members here including my planned entry, stop, and target levels. Check out the trial if you’d like to kick the tires.
Trade Like a Bandit!
Jeff White
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