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Saturday, January 27, 2018 

Swing trade setups for next week

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The stock market’s rally has been impressive since the start of 2018. The major indexes are now up about 8 percent in just one month, pushing RSI readings at levels not seen for a long time. As I mentioned on twitter yesterday, high RSI readings are usually interpreted as indications that a market is overbought, and 88 is a pretty high level for the RSI specifically in an index . So, based on that factor, i recommend you to be prepared for a potential pullback by holding a diversified portfolio with some protection because nothing can go up forever. I started buying some volatility last week as I think this market euphoria could end badly without some kind of consolidation or correction, and the volatility will be back again and much bigger than what we've seen before. That’s my thoughts and it must be seen as such, just a thought with some rationality. Honestly, i believe the easy gains have already been made in this market, and the losses on any downside move could be very sharp, erasing any profits that have piled up. Not wanting to scare anyone, the euphoria is not good in any case. I lived the dot com boom/burst and now im better prepared for anything that might happen. I still holding few longs positions in small/big names. Even so, there are some interesting setups that I will share for the coming week. As usual, use tight stops and have always a plan in mind for the ones that tends to fail.

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With the VIX trading above its EMA200, and with the short-term EMAs turning up, it appears the market's volatility could be back in the near term.

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Twitter Inc (NYSE:TWTR) Strong rally on heavy volume Friday following takeover rumors. This is a bullish sign, which is why I will be watching the stock on Monday. Resistance for this move is $25.85, which was the recent highs. Keep it on your screen next week.

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Pfizer Inc. (NYSE:PFE) was another winner for my twitter followers last week. After drifting for weeks the price finally broke out of a consolidation accompanied by high volume. Friday’s high was $39.09, which is resistance for the follow through move.

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Clean Diesel Technologies, Inc. (NASDAQ:CDTI) stock has back tested successfully the breakout zone. Let's see if the price can hold above this key support area next week and move higher.

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NXT-ID Inc (NASDAQ:NXTD) was on my list a few days ago, and has been slowly trying to make a move up. The stock has to close above the 20-day EMA, for it to pick up momentum. Watch the stock closely next week. Stop 2.13

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Daily chart is displaying upside momentum. I will be watching Facebook Inc (NASDAQ:FB) closely next week for a breakout above 190.66

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I have Immune Pharmaceuticals Inc (NASDAQ:IMNP) on my watchlist. It may be ready to break out of this base formation. Potential swing long above 62c

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting AC Investor Blog.

AC

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  • I'm a 46 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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