Good evening StockBandits!
For a holiday-shortened trading week, we saw plenty of action last week. The indexes didn’t make big net moves from the prior week, but we did get quite a bit of movement on a day-to-day basis. In the end, the action was pretty split (with Tuesday being the primary exception) between large-caps and small-caps, as the NAZ and RUT gave up some ground while the S&P 500 held up pretty well.
Overall, the uptrends in the big 3 indexes remain intact, but we’re getting some mixed signals at this point. That’s not a big problem, and particularly during earnings season when the market is so sensitive to daily headlines, it’s a reminder to us that it’s a stock-picker’s market while we wait and see if some more unified momentum will surface.
There are quite a few stocks which are setting up for plays as we enter the week ahead, so in tonight’s video I’ll not only run through my trading plan for Monday but also add several names to put on your watch list.
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!
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Video Stocks Discussed: NAK, GRT, ARW, SODA, OXY, VNO, VRTX, CI, SNI, FISV, IPXL, BWA
Swing Trading Candidates:
FISV is trending higher here and this brief dip on light volume offers a new pivot for a long-sided entry. I’ll be going long if this one can clear the trend line at $62.30 on its way back up. As with all swing trades, my stop and target levels for this trade are found on the Hit List here inside the Hideout.
IPXL cleared key resistance recently and has pulled back to test it. A turn higher from here would trigger a buy for me as this one clears the $22.25 level to begin another leg up. Please note: the chart below should show $22.25 as my buy point. As with all swing trades, my stop and target levels for this trade are found on the Hit List here inside the Hideout.
BWA trended higher for many months in a steady fashion, but a few weeks ago turned lower on heavy volume. Since then, the stock has carved out some short-term support, which it’s now threatening to break as the day-to-day moves become more volatile. I’ll be going short if this stock undercuts the $67.50 level, as that would open the door for lower prices. 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:
DIS, NAK, ADTN, MGIC, CVD, ATW, NXY, UTX, BRKR, WBS, REN, OXY, FISV, SYMC, VNO, GRT, AFL, VRTX, CI, IPXL, ARW, SODA
Bearish Watch:
SNI, AEM, GES, VFC, ANF, PVH, TSCO, DECK, APD, INFY, MLM, VRSN, NKE, BWA
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.
