What’s On My Watchlist?

Here’s what I have on my watchlist. 

WYNN

RL

CAAS

BKD

PWER

NTAP

BIDU

MO

HERO

CROX

ITW

CNI

TBL

LUK

VRX

HYC

EL

WNR

ALJ

VLO

TSO

$HDY – Swing Trade Idea

• What really caught my attention on HDY is the Inside, NR7, Hammer bar painted on March 3rd
• Although there are 2 very obvious Resistances ahead, I feel that even if my Stop is set to a conservative $5.00 even, I could still get a +2R return
• I see this as a second opportunity to trade this stock
• Time will tell if I’m right on this one

$RL – Let Me Give it a Second Try

• I bought some Ralph Lauren back on Valentine’s Day, and I got Stopped out a few days later.
• In hindsight, my Entry was maybe a bit far away from the EMA
• Now that the EMA is closing in(to) the shadow of a Hammer-like bar, I’m going to give it another try
• My Entry and Stop are the White and Red line on the chart respectively

$WFMI – Long Term Trade

$WFMI was mentioned on Ivanhoff Captial, and prompted me to take a quick look. 

I first noticed a Wedge forming from the past 1.5 months, since the gap-up that occurred back in early-February

Extending the chart further reveals that the Support (Lower) Level of the Wedge also served as the Resistance (Upper) slope of the rising trendline from last year.  It’s an example of a Resistance Line turn to become the Support Line.

Jumping over to the weekly chart, I plotted a Fibonacci Line using the high of Jan 06’, and the low of December 08’, and noticed that the most of the major Fib. Points aligns with major Support/Resistance level throughout the years. 

My Entry will be the at the break of the Upper Wedge (see White Line), and my Stop will be just underneath the Lower Wedge, below the the long shadows (see Red Line).  My Target will be the high of Jan 06’.