Hi all, here is a quick peak at 4 plays I’m looking at in the near term.
$DECK: This one kicked my butt recently, but it won’t happen again. I am going to take a more conservative approach this time. I like going short on a close below $46.55. First target is 44.67. It will be a quick trade for me due to the 200 SMA and there is a gap below that.
$LOW: There is a short term downward channel/wedge forming. A close above the gap, above the 50SMA and the aforementioned developing pattern on good volume should indicate a bullish run. My entry is on a close above 41.05 with a target of 43.18. Stop TBD.
This stock looks strong considering the indecision going on in the market. I like an entry on a close above 70.38. Target is 71.92. Stop is TBD. For the aggressive, you may want to try the 15min entry. The reason for this is because we closed above the long term downward trend line and above the 50 SMA. UPDATE: BBBY posted earnings tonight. Sales were down 2.1%. Not sure how this will effect the chart, but always keep earnings in mind on your stocks!
Remember to stick to your plan and take deliberate and calculated trades. Goodnight all!