Good evening StockBandits!
A morning gap to the upside set the tone for strength today, and soon after was followed by additional buying into mid-day. The indexes each pushed to new highs, despite the fact that the pace of the advance cooled a bit into the closing bell. And with the averages each having broken out today, the bulls now have renewed reason to build on the existing uptrends in the days ahead. Whether they will or not remains to be seen.
The benefit of the rest phases we’ve seen lately is that it has allowed many stocks to base and consolidate. That’s the best way to digest the recent advances, and it should create more setups in the days to come. There are several on my radar for Thursday’s session though, so I’ll take it one day at a time and stick with what the market’s providing now.
I’ll cover my game plan for tomorrow in the video, and as always, feel free to share your own thoughts, trade ideas, and questions down below in the comments section.
Here is tonight’s video:
The Bandit Broadcast Video – Click to Watch!
–
Video Stocks Discussed: ADTN, PVA, GES, ANF, MCP, APKT
Swing Trading Candidates:
APKT cleared the prior highs two weeks ago with a high-volume advance, and since then has been able to consolidate in a healthy way on quiet volume. This one is coiling just beneath a trend line here, so I’m looking to get long if it can clear the $61.50 level. As with all swing trades, my stop and target levels for this trade are found on the Hit List here inside the Hideout.
Bullish Watch:
LBTYA, KEM, CVH, MMR, FR, CVI, AGU, MGM, APKT, SLAB, VHC, VSH, CVG, PVA, ADTN, MCO, PHM, CCME, LNG, IGT, PL
Bearish Watch:
MCD, BVN, AEM, HMIN, GES, RCII, MCP, ANF, LO, REE, CPX, PVH, KSS
The Hit List is a separate post which contains discussion on open positions and swing trade stops and targets, so be sure to check it for further details on swing trades.
