https://www.chartfreak.com/wp-content/uploads/sites/18/2015/05/DESK.jpg 515 791 Alex - Chart Freak https://www.chartfreak.com/wp-content/uploads/sites/18/2019/11/Chart-Freak-site-logo.png Alex - Chart Freak2015-05-29 14:37:422015-05-29 14:37:42Chart set ups
I posted a premium report pre-market, this is a portion of it for your trading enjoyment, some editing has been done to update it too 🙂
Charts – Charts – Charts! It’s Friday, the last trading day of the week, so I just wanted to post a few charts instead of the usual full report . Just for ‘Friday trading’ or building a watch-list. I am not talking about buying and holding for a month, some traders dont even like to hold over the weekend with Greece and other geopolitical issues out there. Buy one or two , or put these on your watch list to possibly buy a pull back . We had reversals yesterday in OIL & Metals , they can be quite trade-able. I bought as mentioned in the chat / comments area, but is it long term or short? Just a quick trade or more? I’ll discuss that this weekend. On to the charts …
$WTIC- small bounce or lows?
What about NATGAS?…
Many were saying how brutal yesterday was, but I actually have been expecting more selling
EDIT: NATGAS has since dropped to $2.66
The XLE ( And a few Energy Stocks) look pretty good here
In the weekend report I will discuss more about Energy and Metals/Miners , but there were a number of interesting looking reversals , as mentioned in our chat / comments section . Stops are being run and buyers are stepping into the fear, I love that for short term trading signals.
I liked the look of the reversal in CDE , BVN, and a few others mentioned in yesterdays premium report.
With the SILVER C.O.T. report, one may want to look at the WKLY CDE and wait for a break out. The bigger picture.
For TRADERS: YOU CANNOT BUY ALL OF THESE, THESE ARE JUST SET UPS THAT OUR TRADERS MAY BE INTERESTED IN. Choose 1 or 2? Put some that interest you on a watch list? These are trade ideas.
I like MDR on a weekly and daily.
EDIT: currently up on lightish volume. It may consolidate further before breaking out
FMSA – good set up
TUBE – has more upside I.M.O.
FRO – THIS LOOKS GOOD
EDIT: Since the post , earnings has knocked FRO back to its 50sma. To the watch list with it
I was asked a while ago about long term ‘buy & hold’. I mentioned NKE, UA, and ULTA in retail as long as markets remain bullish.
ULTA – still a healthy chart, looks like it could break out
CLNE- we have waited patiently for this pull back. Is it ready now? Its a low risk entry , put your stop just below that 50sma (I would use a loose stop) . See also PEIX as a good set up.
Enjoy your Friday trading and I will have a weekend report that discusses the various sectors and the crazy week of activity that we had on this holiday shortened trading week. As always, thank you for being here!