Tickers Discussed: ATVI, HOG, PII, WGO, JBHT, KNX, CMG, DNKN, GWW
These 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.
Lastly, please double check the earnings date date prior to taking any position. Depending on your process you may or may not want to hold through earnings.
$ATVI Daily
Price has been wrestling with $56.50 resistance, but with a nice OH gap to fill it’s worth an alarm. Get long with a breakout and set your stop just below. The target is to fill the gap.
Trucking $DJUSTK
Trucking has been a top performing industry group over the past 30 days. Here are some promising long ideas.
$JBHT Daily – JB Hunt
Price gapped up and is now consolidating in a tight bull flag above resistance that has been in place for a year or more. Conservative traders can alarm $117.75 for the breakout to get long. Aggressive traders can take it long now with a stop just below support
$KNX Daily Knight Transportation
Price breaking out above LT resistance at $38 after earnings. Price is still close enough to be able to set a stop close by just below $38. The low $40’s should be achievable with the expected follow through.
Industrial Suppliers
This industry group has been a top performer over the past month. Grainger was the best chart in my opinion
$GWW Weekly
Grainger is breaking out of a $45 consolidation that has lasted a year. On a measured move basis, the price target is the prior high at $360. Stay long against $310. Earnings are out of the way.
Restaurants
Restaurants are a poorly performing group. From marquis names like $MCD and $SBUX to more obscure names, money is coming out of the group. Could be a field day for shorts; avoid the group if you are long only and look for lower prices.
$CMG Daily Chipolte
On a break of $785 I think this finds $720 in short order. Set yourself an alarm to get short. Earnings out of the way.
$DNKN Weekly
Price has broken below a nearly 4 year uptrend channel and is not therefor on an intermediate to LT sell signal. With earnings this week I am not willing to get in front of it, but if you see price break below $73 I think price is headed to $64. Set an alarm. Let earnings clear.
Other restaurant names. Many of the names in the group are reporting over the next 2 weeks. Many charts breaking down. If you are looking for short ideas, you’ll find a lot of them in this group.
Recreational Products
This group has been a top performer. over the past 30 days.
$PII Daily and Weekly Polaris
Breaking out on 2 time frames with price breaking above resistance that has been in place for a year. Both time frames target $116. Traders can get long against $110 or wait for price to emerge from the flag at $102.50 to establish a position. If that is your strategy, don’t forget to set an alarm.
$HOG Daily and Weekly Harley Davidson
Price broke out on the weekly after earnings and gapped up on the daily where it is consolidating in a bull flag. With a price move above $40, get long with a stop just below.
$WGO Weekly
Price making a monster move so it’s too far gone for any immediate play. $55 is the next level of interest for an actionable trade. We could either see a breakout or a double top breakdown at that level. Set an alarm at $55 and we will watch how price handles it.
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Notes:
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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