Stocks made new highs last week, but remain extremely short-term stretched to the upside. A rest or pullback would be very healthy at this stage, but the bulls just haven’t relented yet.
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:
AEO has again held rising support to keep the short-term uptrend intact. A multi-day high could pave the way for a new recovery high soon.
V is at a decision point here within this wedge. A push north of $227 would start a new leg up.
HOT could soon clear this bull flag pattern and resume its recent strength. The upper trend line stands at $81.50.
CZR is building the handle portion of a very large cup and handle pattern. A new high at $26.80 puts it back on the move.
LNKD is still correcting with lower highs and a break below rising support at $204 could invite more selling.
Through the nightly service, I share swing trade setups with members here including my planned entry, stop, and target levels. I also produce Charts on Demand for a special Thursday educational video. Check out the trial if you’d like to kick the tires.
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