Here we on the eve of a potentially trend defining day. Let’s see what we can plan for!
$LULU: So a lot of people are thinking this stock is oversold and it’s going to bounce. Well, I don’t disagree that it’s oversold and I don’t disagree it will bounce, but I do think that it has some more downside, and that’s what I’m hoping to catch tomorrow. My plan is for a 15min entry with a target of 61.52. My stop will be very tight, so I may get stopped out quick. I will place it just above the day’s open in case the stock does pop. I think this has good potential of earning some money tomorrow.
$TXN: This one just broke out of some sort of wedge formation. I like this one short after the first 15min with targets seen in the chart below. I will probably take profits at 34.00 and then re-enter if the trend continues.
$AEO This one just broke out of a triangle and heading downward. This is another 15min entry with a target of 18.12. Oscillators are supporting the move. Not much else to say, but I like this one short tomorrow. My stop will be above the resistance level at $19.15.
$JCP: Last but not least we have JCP. This stock just broke out of a large triangle, but rather than taking the trade now, I’d like to see a close below 17.11 before entering. My target is 15.73. My stop is TBD.
Good luck everyone, and keep an eye on the overall market! Goodnight.
