Even though the market looked to open very weak on the news from the White House, it rallied and finished the day strong. Biotechs (LABU) broke the neck line of a right handed extended V pattern (bullish) trading to $102.25. $115 is the next target and should help to move markets higher.
CERC: Low priced biotech that has been in a strong uptrend from $.45 last year. Today it traded up to lateral resistance at $5.68 (all time high) and closed at $5.66. I would look to go long over $5.70 with the top of the channel (and price target) at $9.00. Short ratio, 3.2 days to cover.
CLSD: A nice winner from my watch list last night. But it has been up 8 days in a row with the big gap. It did trade as high as $15.06 today closing at $14.28. It may be over extended but if the momentum continues then $17.00 is the price target. Short ratio 15.7 days to cover.
EDIT: Strong day for this stock as it approaches the all time high $43.95. Stock traded as high as $43.25 closing at $42.28. Over $44.00 and I will look to go long with $47.00 and $50.00 as price targets. Short ratio 5 days to cover.
EVBG: Strong chart pattern with stock breaking through lateral resistance today of $35.00 and trading as high as $37.02 and closing at $36.09. Price target $39.00.
HTGM: Stock popped out of the down trending channel right at the longer term up trending channel trading up to $5.28 and closing at $5.10. It will run into resistance at $5.75. Through there and $7.50 is my target.
MOMO: Stock gapped up through lateral resistance and traded as high as $37.86 closing at $37.02. It does have key resistance at $39.00 and would expect the stock to tag that price tomorrow. Through that level and $45.00 is the next target.
PIXY: Huge move today which we traded successfully on the long side live in the trading room. It is at resistance at $4.50. But above that and we should see $6.00.
PTCT: Broke out today. Looks like it is headed for $35.00
RGNX: Huge day today as it broke through a double top and traded as high as $38.05 closing at $37.50. If the momentum continues $45.00 is the price target. Short ratio 4.1 days to cover.
TWTR: On my swing list from $33.00. Target $38.00
VCEL: Continues strong. Looking for $18.00
I watch the 5 and 15 ema. That is about all
i belive 5 and 15 EMA are helpful in day trading. Do you use them for swing trading as well? How do you determine your risk/reward for swing?
Day trade 20 and 50
I just did a webinar on my Swing trades that I have posted. You can see it at @turbobob129 on Twitter (once I post the recording)
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