Top Russell 2000 Stocks: Trading Opportunities For Next Week

A security pattern traces the distinct movements of security prices that, once recognized, helps 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 Russell 2000 stock opportunities by analyzing these patterns.

Buy Signal for ServisFirst Bancshares (SFBS) (Triangle Symmetrical Bottom)

The Triangle Symmetrical Bottom pattern forms when the price of a security fails to retest a high or a low and ultimately forms two narrowing trend lines. As the support and resistance levels consolidate, it forms a triangle (1­5). Symmetrical Triangles are characterized by the upper line sloping downward and lower line sloping upward.

The price movement inside the triangle should fill the shape with some form of uniformity, without leaving large blank areas. 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 with big volumes (leading up to the breakout).

Trade Idea:

  • Buy near the Breakout (Entry) price – 85,41$.
  • Sell at the Target (Exit) price – 88,89$.

Buy Signals for Immunic (IMUX), MoneyGram International (MGI), Amphastar Pharmaceuticals (AMPH), and Allegiance Bancshares (ABTX)

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 the closing price on Friday, or at the end of the trading week if the target is not reached.

Buy Signal for Boise Cascade Company (BCC)

Trade Idea:

  • Buy BCC at the current market price if at an appealing level.
  • Sell BCC after receiving the "Sell" recommendation from trusted analyses.

Buy Signal for First BanCorp (FBP)

Trade Idea:

  • Buy FBP at the current market price if at an appealing level.
  • Sell FBP after receiving the "Sell" recommendation from trusted analyses.
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