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.
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 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.
This industry group has been a top performer over the past month. Grainger was the best chart in my opinion
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 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.
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.
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.
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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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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