Four Stocks To Watch This Week
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The market continues to behave erratically, meaning a 'low dollar' environment is more suitable for a cautious approach.
Here are four stocks to keep an eye on this week:
- ACN (bullish) - A classic post-earnings OVI Pullback Reversal with a consolidation on a Key Level. This stock should rise on any encouragement above the recent week's highs.
- RTX (bearish) - This defense stock is suffering from a recent selloff and potential oversupply. Dropping below $100.00 puts this in danger of another 5% decline or more.
- TGI (bullish) - Bullish Big Money Footprints including OVI, Shrinking Retracements and proximity to Key Levels lining up with this defense stock, poised for an upside breakout.
- UBER (bullish) - A multi-week consolidation with a persistent positive OVI just above its 50-dma should lead to an upside breakout in due course.
Remember, we only trade confirmed breakouts and always manage our trades with the E.D.G.E trade plan.
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Disclosure: This watchlist does not constitute financial advice or trade recommendations.
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Can you elaborate more on these four stocks? And What is the Edge Trade Plan?
Hi Craig, you might find our more in-depth market review from last weekend helpful: https://talkmarkets.com/content/stocks--equities/resilient-but-flaky-conditions-set-to-continue?post=452809 - during the video, Guy walks through each of these setups in a little more detail.
The E.D.G.E trade plan is our simple 4-step trading plan for entering, managing and exiting your trades with ease.
It ensures we protect our trades by only considering the right setups, protecting our capital through sensible entries and initial stops, and protecting and optimizing our profits.
E.D.G.E stands for:
E – Enter every trade with complete control
D – Defend (or protect) profitable positions early
G – Grow your account
E – Evidenced (trade using an evidenced, logical system)
More information about our trading methodology and approach can be found here: https://www.wisetraders.com/