A dozen trade set-ups for your watch list

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These 12 stock market trade ideas are either immediately actionable or near actionable set ups with triggers near by.  For each trade idea, I give you levels to alarm for entry, potential targets, and other key information to glean from the charts.

What are “Objective, Low – Risk ”  Trade locations

Central to my trading process is finding objective, low-risk trading locations. In essence, I want to find trade locations where there is a clean price level to shoot against and where a violation of that line clearly shows me when I am wrong.  THe low-risk part of the equation is to take a trade close enough to the price level that the reward is at least 3x the risk.  Typically this means shorting into resistance, going long at support, going long a breakout, going short on a breakdown etc.

I’ve set these up in a fast read format so targets and strategies have been left to you. If you have a question or need additional input for any of these ideas, please reach out; glad to help.

$BC   Daily

Price is again testing $54 which has been solid overhead resistance for nearly a year.  Prior history dictates a short bias until price can convincingly take out $54.  Bears should go short right here with a stop just above.  Bulls, set yourself an alarm in or around $55 and take the breakout against $54 if you get it.  $61 should be in the cards if price breaks through.

$BSX  Daily

Medical device maker Boston Scientific has been in a $2 wide consolidation range for 3 months or so.  If the market cooperates a breakout is favored.  Alarm the high side for a breakout but while you’re at it, alarm the downside of the range as well.  You’ll appreciate that downside alarm when / if the market rolls over.  A break outside the box targets a $2 measured move in either direction.

$BURL  Daily

Burlington is consolidating after a monster gap up.  The gap up favors a move higher from here. So if you’re a bull this trade location is an objective long against $192.50.  If you’re not interested in a long, alarm $192.50 or nearby for a breakdown and entry into a $20 gap.  Get short with a stop just above if / when your alarm triggers.  You’ll like the way you look when that gap finally fills.

$FL  Daily

Foot Locker really isnt my cup of tea, but you know what, if price moves into that $8 gap I’m not too proud to take the money.  Set your alarms and wait for a breakout or breakdown.

$FTCH  Daily

Fetch seems well on its way to the failed IPO scrap pile. Price is breaking lower from a $3 wide consolidation range that targets $6 on a measured move basis. The sharps hit the October 10 puts today 2000++ times.  They know.

$GOOS  Daily

Former high flyer$GOOS got blown out of the air last year and it has been slow to recover.  Price is at an important spot. Price is grinding inside a triangle. If price can pop above the 200ema I like it long.  If not, its going back to the bottom of the triangle at support.  Alarm $45 for the breakout.  If you’re inclined to like it as a short, here is your spot for a tight bang bang shot. If price moves above the downtrend line, kill the trade.

$IHI  Weekly

The medical devices ETF has been on a mission to Mars over the past 3 years. Now however price is grinding into the apex of a rising wedge and printing a divergent high with bearish divergence on the indicators. I can’t tell you this is going to break anytime soon, but when it does it should be epic.  Alarm $245 or so for a downside break of the wedge.  Keep this on your radar. Move up your alarm if price keeps grinding higher, move up your alarm periodically.  If you’ve been long and have big embedded gains, please be careful. Trim and trail stops

$LVS  Daily

Looks like its rolling over to me.  RSI is a day away from undercutting 50 and PPO momentum is beginning to curl lower.  Hong Kong protesters have been killing tourism and they are not backing off.  You can go postal in Macau and not hit anyone. I favor a move lower.

$MOMO  Daily

Price is grinding higher in an ascending triangle. Room to run above $37.50. Set an alarm and hit it if the alarm triggers. A stop at $37 or nearby should work.

$PFPT  Daily

Cup n Handle working on Proofpoint. Alarm just above $130 for the breakout. If the technical formation plays out according to Hoyle, there should be nice upside after a lengthy consolidation of 7months or so.

$THO Weekly

Thor Industries has been on a persistent slide since topping out in 2018. Recently in the “dash for trash” rally, price finds itself against the downtrend line.  You can see in the annotations that they came after it today with 3x put volume,so they are planning for dreams to die here.  I generally like the play, but I need to point out the divergent low with bullish divergence. That is a complicating factor.  Bottom  line is this…..ok to fire at it short but any pop over the downtrend line, kill it fast.  If that happens, watch it for a long. That divergent low may play out for a tradable relief rally.

$WGO  Daily

Price has found key resistance at $40.50 where it has been rejected a couple of times recently. As in all cases like this, resistance is resistance until broken so the objective, low-risk trade is a short against $40.50.  Notice the tentative touch and rejection today?  That is a reversal candle. Look for downside follow through in the days ahead.  Bulls, alarm $41 and wait. You may get that breakout. If you do, fire against $40 with a stop just below .   That will be an awesome low-risk entry and a great trade location if price follows through on the upside.

 Need More Trade Ideas?

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The charts are and levels are provided as well-informed guidelines. That said, please be aware that exogenous events like surprise tariffs or other events can easily move price through support / resistance zones.

Also, set you stops according to your own risk tolerance. The ones I have provided are to be used only as a guide. The most important aspect of your stop is to honor them. Some trades work, some don’t. Honoring your stop will ensure your loss on a failed trade will be minimal.

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