Things were spiced up last week with some more emotional moves in the tape, which should allow for much better trading if it continues – I’m excited about that!
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:
VDSI has pulled back for a few days but a break of the small trend line allows the uptrend to resume.
PANW has coiled for a few weeks now beneath the highs so I’m watching the trend line for a break to indicate it’s back in rally mode.
KSU is working on a bull pennant here and a turn up through the upper trend line would confirm the pattern. The trend remains up.
ALNY is facing another lateral resistance level and a new high at $80.10 would start a new leg up.
THRM could continue lower but if it turns back up and clears the trend line at $49, there’s ample room to bounce.
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!
Take a trial to our Stock Pick Service to get our trades.