Stocks ended the week on a soft note, leaving the indexes right at some key short-term support areas. That could bring a (much-needed) shake-up this week, so stay on your toes out there.
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. Price provides the proof, then I make an entry. Here we go:
TSLA has been acting well and this high-level base is simply a rest phase (note the light volume). A turn up through $285 and it’s back on the move to continue its uptrend.
CTRP has pulled back within its rising channel but the trend is still up. It’s against support here with several points of room to rally, but a lower low at $62.50 would negate the bullish setup.
CSX is building the handle portion of this cup & handle pattern, but needs a breakout to a new high at $31.75 to confirm the pattern.
APC is holding the lower end of the range here, giving $104 a level to trade against on the long side with room up to $113 if support holds.
UHS is in danger of creating a lower high here and a break below rising support at $110.50 could invite more selling.
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