We’ve had some great calls from members inside 12631, including, but not limited to, member “makereturns” calling out a double/triple in stock price in NTE months before it happened. “jmcookjr” has been a monster with the never-say-die homebuilders, among many many others in our talented room.
Last night, member “falcontrader” pointed out the sharp bounce by firearms maker SWHC. I took a look at the chart and saw a textbook hammer candlestick after a steep correction last Friday with upside confirmation. Moreover, as you can see below, the stock found strong support along a major trendline dating back to November 2011. Smith & Wesson is also outperforming rival RGR of late.
SWHC has seen an incredible run since the October 2011 bottom. Perhaps the move has at least another push higher before it runs out of bullets.
I think you place a stop-loss below that hammer if you are looking to play another leg higher in the firearms trade.
_____________________________
Thanks for the shout, Chess! You been waxing much ass, as well.
thanks, jimmy
The weekly looks beautiful for this play!
That chart would make ‘Moses’ proud..
😉