Apr 24 Prep

We can’t be surprised to see some sideways consolidation tomorrow, but after today’s action it feels like the uptrend is again reasserting itself. Regardless, the market environment has been extremely favorable to a momentum strategy like ours, and I hope this continues.

LONG Setups:

  • ACAD – still remains extremely strong and likely to continue higher through 14
  • RKUS – gave us a great trade today, but still has room to run off the double bottom and support at 17, expecting a move to 20dma and 19
  • CF – basing nicely in the 175-180 range, expecting a bounce to 185
  • WSM – tight consolidation near new highs and above 20dma, looks likely to break out to new highs
  • IMAX – similar to WSM, although a little looser, will be looking for a move through 28
  • SBGI – incredibly strong and inching higher within an overbought situation, suggests a likely expansion through 28
  • TRIP – trying to come out of a well defined bull flag on top of 20dma, expecting continuation higher
  • SODA – bounced off support at 50 and 50dma, will be looking for continuation
  • N – narrow consolidation above 20dma, seems poised for a breakout to new highs
  • WST – small flag on top of 20dma, expecting a move toward new highs
  • HLSS – well defined consolidation base on daily and a bounce off support to reclaim 20/50dmas, will be looking for a move through 23 and toward new highs

SHORT Setups:

  • MDSO – toppy looking daily chart, consolidating under 20dma and seems to be having a hard time staying above 50dma, likely downside to 52 and lower

Not long ago a Wall-Street-Hedge-Fund-Finance-MBA guy, now a momentum trader. Father, husband, mediocre soccer player, numbers geek with a lousy sense of humor. Obsessed with risk management, tries hard to "make money every day"

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Posted in Long Setups, Short Setups
2 comments on “Apr 24 Prep
  1. Like A Sir says:

    What do you think about TGT over 70?

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