So today I am just going to take a look at 3 potential plays. 1 brackett, 1 long and 1 15min rule. So let’s begin!
$CAT: First off, let me thank #Tradesmartu.com for pointing out this trade. It looks like we could go in either direction with this stock. On the bullish side, we need a close above today’s wick as well as a close above the 200 SMA. Target is 90.60. Stop is TBD. On the short side, I like a close below 84.85 and a target of 81.48. Stop is TBD.
$LULU: I got burned on this stock a few weeks ago, but it’s looking like a good play is setting up. There are some long term trend lines, the 200 SMA and recent wicks I’d like to close above. In addition, there is an ascending triangle forming which I outlined in pink. I like a close above 66.85 with a target of 70.40. Stop is TBD. Notice there is a short trade as well. That was from a few weeks ago, but it may be valid depending on how LULU behaves. For now, I am looking at the bullish trade.
$FSLR: Here is the 15min trade. It looks like we just had a nice pop on increasing volume. I think FLSR is a strong play with a target of 56.30. My stop is 48.56. This trade has an excellent R/R if it plays out as expected. I think I will leg into this trade with one contract and get a couple more if the trend continues.
That about does it. Best of luck with all your trades.