There are only four setups today because the pickings are slim during earnings season. Risk is always above average when a company reports earnings and I try to insure that the earnings report is at least a week away. Today, we have tech stock with a large triangle after a big breakout. Second, there is another tech stock showing relative weakness after a gap and break down. Third, we feature a healthcare stock with a bullish triangle. Fourth, there is another tech stock getting a bounce off support.
**This chart analysis is for educational purposes only, and should not be construed as a recommendation to buy, sell or sell-short said securities** relative
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.
