Today's swing trade stock chart of the day is HD (Home Depot). In the Trade Report we have been watching residential real estate stocks for a few weeks now and of course, building material and home improvement stocks move in line with real estate.Subscribe to The Market Speculator by EmailHome Depot broke out on strong... Continue Reading →
MNST broke out on heavy volume a few weeks ago and has been forming a nice post breakout base ever since. This consolidation sets it up for a leg higher and a "trading the post breakout range" setup. Look to enter either 1) on pullback to bottom of the range or 2) breakout of the... Continue Reading →
Salvador DaliHave no fear of perfection, you will never reach it - Salvador Dali As swing traders we all know that a market pullback is our friend. If we go back and look at any market index chart, we will see that the best time to enter the market was on a pullback after and extended... Continue Reading →
Often with explosive stocks and leveraged sector ETFs like NUGT, pullbacks off parabolic breakouts can be volatile, and difficult to enter. So just how do we figure out our entry level?There are two ways to do it. The safe route is to wait for a confirmation move. For instance, a positive candle pattern. The riskier... Continue Reading →
One of my favorite swing trade setups is the breakout-pullback setup. Recent IPO Virgin America broke out over it's 5 week range and has now pulled back to the old high. This high converges with the new 20 day moving average, offering two levels of support. Entry in the $38-40 range, with a stop under that... Continue Reading →
One of my favorite swing trade setups is the breakout-pullback setup. While the market has pulled back, retail jeweler $SIG has held up well, pulling back to the key 50 dma level. An entry here with a stop under the 50 dma and target near recent highs around $133 offers a nice 3:1 reward to... Continue Reading →
Swing traders know that biotech has been the sector leading the market. My favorite biotech stock right now is CEMP. The keys to a great momentum stock are volume and price action. Volume has been pouring into the stock early October breakout. Each new breakout has been followed by strong volume and low volume pullbacks.... Continue Reading →
I entered VMW yesterday on a breakout-pullback setup. Note that stochastics are now oversold and price has moved back to the bottom of the breakout bar on declining volume.
Yesterday I entered GMCR off a breakout-pullback setup at $93.44. Stop is under support and the target is the recent high around $98. This gives me a 3:1 reward to risk ratio.
I entered DIG today. The stock has broke out over a W formation and the 50 day moving average. Another positive is the positive RSI divergence.An entry here around $34.80, with a stop at $33.80 (under suppport) and target at the old high around $38 offers a nice 3:1 reward to risk ratio.The stock is... Continue Reading →