The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.
NIHD triggered
Open Position Notes:
GRMN continued to base beneath $48 last week with a few attempts at the area each proving futile. The stock is still caught in a trading range, so it hasn’t yet stopped me out or lifted enough to warrant taking profits. I’ve been very patient with this one while waiting to see if it would turn higher after holding the upside gap from late-Feb, and it seems I’m going to have to just wait it out until there’s cause for an exit.
FBHS rested again on Friday as light volume left the stock in a narrow range with just a minor decline. Overall, this is healthy price action to see the stock resting after a nice multi-day run, so I’m staying patient here and waiting to see if it will either carve out a new level of support or head higher toward my Targets. So far, so good, I’m just staying put for the time being.
NIHD triggered a buy on Friday with a nice rally up through the upper end of the descending channel which had formed over the previous 6 sessions. The stock was able to close above the trend line, which I found encouraging, despite the lack of strong volume on the turn higher. I still like this setup for some continued strength, so I’m going to stick with my existing trade parameters heading into Monday’s session. It’s also important to note that the stock did mark a higher high intraday, as well as posting its best close in several weeks.
Closed Positions:
No closed positions.
