Swing Trades for Next Week - 12th October On Wards ( US Stocks )

 Hope this week has been great for you guys. Decided to share some of the trades which i really like for next week/weeks . Please don't take these as trading recommendations and try to understand the logic behind it. Trying to share some basic price action examples for the benefit of all. 

The first one is GSX. 

Let's first check it's Weekly Chart for a broader picture.

In this weekly chart, we can see that it is breaking out of this box, which is also known as the Darvas Box.

Once a stock breaks out of the current box, it shows that it has relative strength now that it is above it's important resistances or supply zones. This basic thing in itself is enough to know whether a stock is gonna perform or not. If a stock or index is still inside the box, we can say that it is stuck in range and we should wait for it to break the box on either side for further move. 

Let's Check it's Daily Chart now. 

In daily chart we can see that it has formed and broken out of a Cup and Handle formation. This is a bullish formation and our next target is the marked area. If we observe, we can see that it has recently bounced from a " Volume Shelf " which is a great way to see if we have good amount of buyers or not at any specific level , like in this one here. 

Next one is DDOG. 

Let's check it's Weekly chart also first. 

In the Weekly Chart we can see that it has broken out of this triangle pattern and at the time of breakout, there was good amount of buyers as seen from the Volume Shelf. 

Now if we check it's Daily Chart.

We can see in the daily chart that it broke out from the channel and there were good amount of buyers there too as seen from the volume shelf and after that it consolidated for a few days and then again made a nice bullish candle which broke out from that consolidation range. 

Last one which we will discuss is WKHS.

In the Weekly Chart of WKHS, we can see-

Here we can see that it broke out and retested this important long term trendline. Generally after breaking out, it also many times comes back to touch the trendline before moving up again. That same thing is seen here.

In the Daily Chart - 

We can see that it is bouncing from the horizontal retest area also. At the same time, there was support from the volume shelf too. This area which was first acting as a resistance ( as marked with the first arrow ) , later acted as a support , that too multiple times and now it looks like that it has started it's next move upwards. 

These were some trading ideas that i wanted to discuss. 

Charts were used from TrendSpider Website.



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