Tuesday, April 18, 2017

This Stocks Nears Major Bounce Level, I Am A Buyer Right Here...

This is a pure technical chart play on United States Steel Corporation (NYSE:X). The stock has fallen off a cliff as President Trump has gone soft on China. The worry is he will no longer tax steel imports as once promised. This monster fall in shares of United States Steel gives investors an 'on sale' opportunity to swing trade the stock.

The level to buy is $27.85, only pennies from the current price. The reasoning is simple. There is a former pivot high from July 29th, 2016 at $27.85 as well as the daily 200 moving average. When two levels coincide, the level because much firmer and more likely to see a strong bounce. The expected swing trade bounce would be approximately 10% over the course of a week or so.

Remember, swing trades are not long term investments, they are trades you take for a week or a few weeks, looking to catch near-term moves. Let's see if United States Steel Corp hits the buy level...

Gareth Soloway

InTheMoneyStocks

Posted by Bryan Leighton, at 2:41 PM

Tuesday, November 17, 2015

Trend Line Analysis: The Key To Every Market Move

Markets, stocks, commodities, currencies: They all are controlled by trend lines. Find any major move in a chart and you will find a trend line that gave you the high or the low. The latest example was today on the S&P 500. Note the chart below that shows the $SPY (SPDR S&P 500 ETF Trust (NYSEARCA:SPY) moving higher today until it hit a trend line that connects all the highs from the two weeks.

Trend lines are important because they can literally tell you where a market or stock is topping or bottoming. This enables you to have some clue about where you should buy, sell, short or cover. By simply learning how to draw these, the odds of you being successful in trading and investing go up exponentially. Imagine today, simply shorting the high of the day. Easy money waiting for you to take it.

Gareth Soloway
InTheMoneyStocks

Posted by Bryan Leighton, at 2:03 PM