Swing Trade Ideas for This Week ( US Stocks )

 Hello friends, wanted to share some of the swing trades which i think might work this week. Please note that the purpose of these charts is to only educate you guys and it should not be taken as a trading advice.





So the first one which i would like to discuss is Spotify Technologies.

This is the daily chart of it and here you can see that it is taking support at this trendline even after the quick fall that we saw in the last 2 days in the overall market and almost all stocks. 

Another thing which we can observe here is that it is also taking support at the 50 Exponential Moving Average. An exponential moving average acts as a dynamic support and resistance and as it is calculated mathematically , it does not has any bias which might be there in the case of trendlines which we make ourselves. 




 This is the same chart, in this i have used the Trend Spider's Auto Fibb option. It automatically applies the Fibonacci levels and here also we can see that it is taking support at this Fibonacci level too. 

So we can expect it to hit life high again if this support remains intact. 





So the second stock which i would like to discuss is Darling Ingredients. It is also the daily chart. 

Here you can see that it has been moving out of these triangle breakouts and whenever it has broken the triangle pattern, it has given atleast 10% move before again going into minor consolidation.

If you look at the current scenairo, it just gave a nice breakout from another triangle and i feel it can again move up 8-10% from here one. This is looking good for positional trade as well. 



The last stock which i want to discuss is Park Hotel & Resorts. Here you can see that it has also given a triangle breakout and now it is going to breakout from this horizontal resistance too. On friday it made a very bullish candle above the triangle resistance and closed at day high. When any stock or index closes at day high, it shows that bulls are in full control and even the last sellers were squeezed out. 


Charts are used from TrendSpider website. 

These were the stocks which i wanted to discuss for this week. I hope you could learn something out of this article. Happy Trading :)

Comments

  1. Great analysis.. which books do you suggest for beginners to perform such analysis. Thanks

    ReplyDelete
    Replies
    1. Thanks.. you can read Trend Following by Michael Covell...

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