Float your boat with these Sunday Set -ups

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.

Need More Trade Ideas?

Each week, I sift through hundreds of charts looking for compelling, objective trading opportunities and send them to members of our group. Why not join us?  It’s FREE.  Registration takes less than 1 minute HERE

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.

Join our Trading Tribe!!

Our group of aspiring traders are into active swing trading using technical analysis to find objective, high-probability,  low-risk trades.  Using these processes we’ve been fortunate to be winning; not perfect but winning. If that is appealing to you, join us!  I’d like to think you’d benefit from the work.  You’ll get premium  content 6 times a week including a copy of my Daily Profit Compass, Weekend Profit Navigator, and Trades about to Happen along with other actionable content delivered directly to your mailbox.

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