Swing Trade Ideas December 23

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Tickers Discussed:  AMZN, BABA, BEN, BIG, BOOT, FB, FDX, JD, KMX, MUSA, ZION

These stock market swing 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.

$AMZN 60 min

A poor close on Friday violated the 60m up trend line. To get back on track, price needs to clear $1790 for starters. I think traders can be long above $1790 with a tight stop. A move above $1800 opens the door to $1820+

$BABA weekly

Emerging breakout to new highs. Get long against $210. Blue sky overhead.Set a stop a bit below $210.

$BEN 60min

This asset manager has had a tough time. I showed the 60min chart for granularity but if you pull up a daily chart you’ll see the long term downtrend. A break below $25.80 sends this lower and is a good spot to try a short.

 

$BIG Weekly

Price pressing against weekly down trend resistance at $30. A break above $30 opens the door to $38. I like this long above $30

$BOOT Daily

A move to $44 confirms a breakout to new highs. Alarm $44 and get long with a stop just below once price confirms and triggers your alarm.

 

$FB 60min

Recent price action on $FB has been positive. I see 2 locations for objective long tries.  Above $107.50 likely sends this higher and I’d get long there. I’d also be a motivated buyer on a back test of $203. As always, set a stop according to your risk tolerance just below your entry point.

 

$FDX Daily

The stock broke down hard last week on a terrible earnings report. Price has settled in and found support just above $146. I like this short if price breaks below $146 with a target at the prior low at $137.50.

 

 $JD weekly

Making a move to get on the upper half of its trading range. A price move to $36 would provide an objective long trading anchor location with a tight stop below.  First objective would be $40ish.

 

$KMX Daily

Gapped down on Friday setting up a nice bracket trade. Alarm the high and low side of the Friday range as shown. Follow price with a long or short position depending on the direction of the break outside of Friday’s range.

$MUSA Daily

Murphy is working on a massive bull flag. A breakout here sends it on a potential moonshot on a measured move basis. Alarm both sides of the flag as shown in the annotations in case the market decides to correct.

$ZION Daily

Although not as big as $MUSA’s, $ZION is also working on a nice bull flag. Alarm the breakout level and take it long when you alarm trips.

 

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