Each week we will publish our swing trade ideas based on our screeners and technical analysis of chart patterns. These picks are the ones we are watching the closest for a move (up or down). Remember the name of this site, these posts are for us to learn and grow in our abilities to spot potential moves, and not financial advice.
|Ticker||Hi Trigger||Target 1/2||Lo Trigger||Target 1/2|
Targets – the zones of support we identified based on trend lines, past support/resistance and volume profile. These are the areas to begin taking profits
Very strong ascending triangle pattern that has been trying to break above $23 since the beginning of May. Our bias is to the upside on this one but if the $20 support is breached, it could easily drop back to the $16-$18 range again.
This stock has been coming down off of the February $142.20 all time high for awhile, consolidating between $108 and $128. We’re watching it to see if it breaks below $113.50 with volume, it’s next support being $105. Below $105 is $99, then $90.
This one just passed under it’s 20SMA on fed inflation news. We’re watching to see if it continues to drop from the all time high of $168 it hit at the beginning of June, or turn around and make some new all time highs. If it drops below $153 with volume, next support is $149, then $135.
Another strong ascending triangle pattern that has been developing since January of 2020. If it breaks to the upside, $70.50 should come quick and $76-$77 isn’t out of the question. If it falls below $63, we could see $60 pretty quick and then $58 below that.
The last of the ascending triangle patterns, this one started at the end of last February. If it breaks to the upside, we’ve got $108 and $115 targets based on Fibonacci extensions. The trend is in danger of breaking the other way however, and could find itself back in the $70 to $80 range if it doesn’t catch the weaker support around $86.