Top Mid-Cap Stocks: Trading Opportunities For Next Week - Sunday, June 19

Stock, Trading, Monitor, Business

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A security pattern traces the distinct movements of security prices that, once recognized, help traders to make informed trading decisions. These patterns are identified by their vital geometrical elements, which are formed by changing security prices. Let's look at some mid-cap stock opportunities by analyzing these patterns.


Buy Signal for Corcept Therapeutics Incorporated (CORT(Wedge Rising)

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The wedge rising pattern forms when prices seem to be spiraling upward, and two upward sloping trend lines are created with the price hitting higher highs (1, 3, 5) and higher lows (2,4). The two pattern lines intersect to form an upward sloping triangle. Unlike ascending triangle patterns, however, both lines need to have a distinct upward slope, with the bottom line having a steeper slope.

This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down leading up to the breakout.

Trade Idea:

  • Buy near the breakout (entry) price – $21.42.
  • Sell at the target (exit) price – $22.90.

Trend trading is a strategy based on the technical analysis of changing market prices. The trend trader enters into a long position when a stock is trending upward, and uses the short position when a stock is trending downward.


Buy Signals for Grid Dynamics Holdings (GDYN), Caleres, Inc. (CAL), & Huron Consulting Group (HURN)

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Trade Idea:

  • Buy at the opening of the stock market on Monday if the opening price has gone up by no more than 0.5% of Friday's closing price.
  • Sell after the price has risen by 2% from Friday's closing price, or at the end of the trading week if the target is not reached.


Buy Signal for Standard Motor Products, Inc. (SMP)

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Trade Idea:

  • Buy SMP at the current market price if seen as appealing.
  • Sell SMP after receiving the "sell" recommendation from trusted analyses.

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