Swing Trade Ideas. 16th November On Wards. ( US Stocks )


AmerisourceBergen Corporation (ABC)

(Click on the charts to Zoom)


In the weekly charts for ABC, we can see that the stock has finally managed to come out of the descending triangle pattern. Let’s delve a little deeper and look at the daily charts for ABC.


On the daily charts, the stock has been range bound between the marked levels in purple. The break above descending triangle on weekly charts coupled with breakout in daily range gives us a bullish bias for ABC.

One can look at adding above the marked levels.




Sleep Number (SNBR)

On the weekly charts, we can see that SNBR has tried to break the long term trendline multiple times but to no avail.

This week, the long term trendline has been broken along with a confirmation candle on the upward trajectory.

On the daily charts, one can see that there is confirmation on retesting the previous high along with bullish breakout giving us positive affirmation when we look at it along with the weekly chart behaviour.

This gives us a bullish bias for SNBR.




News Corp (NWSA)

On the weekly charts, NWSA has shown positive breakout on the long term declining trendline. While there’s no confirmation candle yet on weekly charts, we are seeing a strong bullish uptrend.

Let’s look at the daily charts to take a deep dive.

On the daily charts, the stock has tried to do multiple retests on the long term ascending trendline but the same has acted as a resistance to show a positive breakout.

However, the stock has finally breached the long-term resistance which now acts as a support for the bullish uptrend that has been recently seen on weekly charts.

Please note that these are just for educational purposes and we are not liable for any of your profit or losses. Please consult your investment advisor before making any buy or sell decisions.

Charts are used from TrendSpider website.



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