Swing Trade Ideas and Set-ups

The article details multiple long and short swing trade ideas for traders to consider.  Entry triggers and stops are given for additional guidance.

Watch the German $DAX

The US Market and German DAX have a high correlation. While there are always exceptions to any rule, I think traders should pay attention to the DAX right now.  It finds itself in a precarious technical posture as it sits on the neckline of a bearish head and shoulders topping pattern. Should the pattern execute, it projects 10% downside for this key world market.  Weekly chart shown.   Those wanting to trade the DAX can look to the $EWG  or $HEWG  ETFs

LONG IDEAS

Notes:  I do not hold names through earnings. I have NOT scrubbed these names for upcoming earnings so do your own due diligence in that regard. Also, these are purely technical set ups. No consideration has been given to fundamental factors.

$CDW –  A nice set up with an ascending triangle working against $88.50.  Alarm $89 to get long.  Formation projects to almost $100 if it fully executes.

$FIS – Cup and handle formation projects to $115 with a break and hold above $109.50.  Alarm $109.75 – $110 to get long

$RSG – A sleeper stock that’s working well. Recently broke above resistance but a clear stop remains close by.  Traders can  get / stay long against $74.50.

$ROKU – Probably already on your radar but still looks good above $63 or so.

$VMW – Price pushing towards resolution in the ascending triangle. Tightest Bollinger Bands in over a year suggest a big expansion coming. Alarm $155 and $150 for a heads up.   Trend and formation favor a move higher but we cant guess…..be patient and wait for a breakout or breakdown

$VRSN – This train keeps on rolling. Nice spot to get long with a clear stop near by.

$PLAY – High tight bull flag for this restaurant.  A break above $58 with conviction should unlock a move higher.

$RHT – Former leader in the software group got whacked in June after earnings. Now price is set to enter a big $15 gap.  Alarm $150 for a price move into the gap.

SHORT IDEAS

$ABC –  Price is up at the top end of the range and is being rejected by the down trend line.  Traders can get short and use the down trend line as the stop.

$NOAH –  Nothing but thin air and darkness below $40. Alarm that level.

Homebuilders –  $LEN, $BZH, $PHM     Sector is getting whacked. Lots of interesting short set ups within the group.

 

There you go!  Lots of set ups for you to consider. Hope it helps!

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