The broad market is a bit extended, but there are still plays on the long side setting up. It’s just a matter of staying selective.
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:
TWTR has pushed past short-term resistance and next could challenge $48, the July high.
JCP is trying to clear the November high but a break above $10.55 opens the door for a move back above $12, support from a year ago.
JD continues to trend higher and is currently resting. A new high at $31.90 sets it free to climb again.
CELG broke through $90.50 resistance and that has turned into support, providing a level to trade against on the long side.
LULU has formed higher lows since June and a push through $40.80 would invite a gap fill to $42.60 from early July .
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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