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.
GGC triggered and stop raised
Open Position Notes:
GGC triggered a buy today as it cleared the descending trend line at $26.30 to start a potential new leg higher. After clearing the trend line, it spent the next few hours in a high base on the intraday chart, which is a good way to consolidate the morning advance. Holding its ground and finishing above the trigger (despite a lack of market upside after triggering) are both positive from a technical standpoint, so I’ll be watching for continuation in this one in the days ahead. I’ve raised my stop tonight in order to reduce risk now that it has turned higher, as I wouldn’t expect it to retrace much on a pullback with this falling wedge pattern.
Closed Positions:
No closed positions.
