Tickers discussed: AIG AGYS AKAM CTXS FTNT GWPH LYFT MSI VFC
“Trades about to happen” are objective, low-risk swing trade ideas with nearby triggers. Key levels, trade locations, and targets are provided for each set up with plenty of timely commentary to keep you on the right side of the trade.
What are “Objective, Low – Risk ” Trade locations?
Central to my trading process is finding objective, low-risk trade 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 ( Target ) 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 specific strategies have been left to you. I am an option trader but I know many are not. 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. Some tickers have earnings relatively close while other are later in the cycle. Depending on your process and how you handle earnings, you may or may not want to consider the trade.
Trades about to Happen
$AGYS – Agilysys
Price is consolidating between $37 and $42 after a nice run. Set an alarm and get long on a break above $42 and look for a move to $47 as a first target.
$AKAM – Akamai
Price popped a symmetrical triangle and cleared above some OH resistance levels in yesterday’s trading. IMO price now has room to run after the impulsive breakout with room to find $115 as T1 and a shot at the prior high at $120 as T2. I think you can get long against $109 but if you’re willing to give it extra room, $107 should be rock solid support.
$GWPH – GW Pharma
Price is poised for a massive breakout above the long-standing resistance zone between 140-141.50 area. On a measured move basis, the technical target would be in the $180’s or higher. If / when price breaks through, there will be a ton of support below $140. Set your alarm for the breakout. Once triggered, get long and set your stop just below $140. Price should not re-enter the prior trading zone if the breakout is legit.
$FTNT – Fortinet
2 ways to play this. Either get long against the bottom of the box and 20ema at $145 or wait for a confirmed breakout above $155 before getting long. Given the box is $10 wide, if price came in to tag the 20ema again, I think you could have a pretty tight long by setting a stop just below $145 and ema support.
$MSI – Motorola Solutions
Price has been wrestling with $175 for 4 months. If / when the breakout comes this will be a nice long with plenty of support below. Alarm $175 and get long on a breakout.
$CTXS – Citrix Systems
After consolidating under resistance for 6 weeks, price broke above $134 and back into it’s value range. I think price will find $147.50 for at least a tag. Get long against $134 with a stop no lower than $132.50. Notice the bunched and rising ema’s below price, PPO bull cross just above the zero line, and the RSI breakout…all bullish looks.
$AIG – AIG Insurance
Price breaking out into a $7 wide price void where there is very little overhead resistance. The path is clear for a run to $48. I like this long right now against $41.
$VFC – VF Corp
Price is breaking down from a double top look with bearish divergence. With price already below the 50ema, I favor a break of VoP support at $81 but its probably not work front running an anticipated breakdown with the market still relatively strong. Alarm $81 for a confirmed breakdown. If price triggers, get short and look for a move to tag the 200ema at $75
$LYFT
No doubt about where the resistance wall is on this one. Set an alarm in the $51 area and at say $46. THis one will either breakout or ultimately get rejected and move back toward the middle of the range. It won’t stay in a $4 wide box forever. Be ready for either case. Should be a nice trading opp once price chooses a direction.
Pulling it all together
Lots of nice set up’s here for you to consider here. All are objective and low-risk in my view. Low risk meaning you can place a stop near by and you will know exactly when / if you’re wrong. That doesn’t mean you go firing off 10 trades at the bell. Be selective and consider your present holdings. Market vol is high and with the election 2 weeks out probably not the best time to be maxed out on positions. Only take trades you can manage well.
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