Today we have six setups. We start with a shipper that broke resistance and successfully tested this breakout with a high volume bounce. Next we have a video game retailer consolidating after a gap. Third up is a Japanese automaker with a bull flag. The fourth slot goes to a tech stock with a high and tight flag. Next up is a shoe maker that gapped down as the World Cup started. And finally, we have an airline that fell back to a key retracement.
**This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities**
This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need to think for ourselves when it comes to trading our own accounts. First, it is the only way to really learn. Second, we are the only ones responsible for our decisions. Think of these charts as food for further analysis. Before making a trade, it is important to have a plan. Plan the trade and trade the plan. Among other things, this includes setting a trigger level, a target area and a stop-loss level. It is also important to plan for three possible price movements: advance, decline or sideways. Have a plan for all three scenarios BEFORE making the trade. Consider possible holding times. And finally, look at overall market conditions and sector/industry performance.
