There are four setups today. We start with a volatile networking stock challenging a channel trend line. Next, there is a major airline testing support. Third, we are featuring an apparel retailer showing resilience near support. And finally, there is a semiconductor equipment stock with a bearish pennant.
**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.
