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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