Today's chart of the day is a recent IPO that almost all of us use for online purchases, Paypal.PYPL has formed a few key levels that we can now trade off. First are the IPO lows and highs, which form an 8 point range between $34 and $42. Watch for either a pullback to the... Continue Reading →
One of my favorite trades is playing the post earnings breakout range that develops within stocks that have had a strong earnings catalyst the previous two weeks to 2 months.Subscribe to The Market Speculator by EmailUlta is a good example and has formed a $148 to $155 range. Buy the bottom, sell the top. It doesn't get... 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 →
MCK has formed a nice traidng range post breakout. I'd like to enter at the bottom of the range, with a stop just under support and the upper end of the range as my initial target.
Netflix broke out yesterday on strong earnings. This is a breakout-pullback candidate. Strong volume on the breakout over a bullish flag pattern. I am now waiting for a low volume orderly pullback.
IPHS broke out in early August and is now developing a trading range between the breakout highs and lows. This has created a low risk set up. I would like to buy on a pullback to the $33-35 range with a target of $40 and a stop around $31-32.Overall, the stock shows a nice volume... Continue Reading →