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Weekly Trading Setups

The Next Layer of Setups

Should the broad market resilience continue with more rotation, I like the following not-yet-extended long swing trading ideas on strength. Note that two of them are emerging market telecom plays, which fits in nicely with part of my Weekly Strategy Session over the weekend (It’s still not too late to check out this week’s edition).

As always, wait for your breakout trigger before you take the trade and use stop-losses to mitigate downside risk.

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Celebrating the Success of Chicken

NOTE: chessNwine’s Weekly Strategy Session has been published and sent out to members this week. I am confident that you will find this week’s version to be of tremendous value in your weekly preparations for the market. It is never too late to sign up at a very reasonable price, so please click here for more details about subscribing or even making a one-time purchase (the subscription plans offer much better value over time). As a reminder, members of 12631 receive the Weekly Strategy Session at no additional cost, as it is included in their membership.

With the price of chicken-wings “soaring,” there are a few plays to watch in the market. One that caught my eye is Sanderson Farms. On the daily chart below, you can see the high volume ascending triangle breakout attempt last Friday. I am looking to see whether $51 can now hold as newfound support after acting as resistance. If so, all-time highs from 2010 up at $59.43 are within reach. The stock is equally as promising on the weekly, monthly–and even eight-year long base on the yearly–timeframes.

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The Super Bowl of ‘murica Eats

Here are some under-the-radar casual dining plays to watch for further moves higher. They have been strong, but to my eye have not received too much hype.
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Deep Underwater

The main trap to avoid in 2013 has been building directional short positions on the market, and building them as the rally continued. Those shorts are now deep underwater and hoping for a top as a reprieve.

In the short-term, I am still watching the 1509 level on the S&P 500 Index for resistance. Above there, and 1523 is within reach.

Until then, the trend higher is in control. Here are some of the top short squeeze plays today from one of my favorite screens inside The PPT.

(Click to enlarge)

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Setups to Watch as We Slide Into Super Bowl Weekend

I like the following long setups on strength. Note that AFCE is the owner of the Popeyes Chicken chains. The Super Bowl is being played in New Orleans this Sunday, and I would argue this could be a beneficiary of the festivities. Beyond that, we know the reaction by the market to the widely-watched macroeconomic data set to be released on Friday may very well make or break these setups from triggering, at least into the weekend.

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Flag-Waiving on the Interstate Through God’s Country

http://www.youtube.com/watch?v=UAF7Mk4PXj0

On the chart below, we can see a textbook high and tight bull flag on the daily timeframe of TA, TravelCenters of America, which operates and franchises travel centers primarily along the United States interstate highway system. High and tight bull flags, with a surge in buy volume during the initial advance which tapers off during the flag, are consider high probability continuation patterns to push higher yet. Of course, nothing is guaranteed.

But this is a textbook one in the middle of God’s country, out on the open road.

I am looking for an upside trigger with a move through $7.80. And I am looking for $7.20 to hold on the downside for the bull thesis to have a chance.

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