TE Shakedown 10/1/17

by Shake P

Trading Experts

TE Shakedown 10/1/17

The market was very choppy to start the week -- until Trump laid out his tax plan which the market seemed to like very much. We closed the week at all time highs on a very strong Friday that absolutely punished shorts as we just grinded higher. 

Many stocks were the beneficiaries of this rally -- but the bank stocks were especially strong throughout. 

Onto some charts!

IPO Market Back?!

With the market at highs we finally saw some really successful IPOs this week in ROKU & RYB. ROKU, the digital streaming tech company opened above the range at $16 and nearly touched $30 in its second day trading. This will definitely be a stock to watch going forward. Any sort of consolidation flag on an hourly chart or higher and I will consider. We've already beasted on RYB's big brothers TAL & EDU, so it was only right RYB got the same treatment. This is another one to watch for a setup. 

It's no secret recent IPO's are our favorite setup because of the type of momentum moves we often see. Since they have no price history, there is no support or resistance. It's all price discovery. This means the envelope is much more easily pushed. 

Earnings Szn

Trade of the Week - DXC Long pt 2

Last week's Trade of the Week DXC gave us another week of consolidation making it the first ever back to back Trade of the Week. With a very strong bull flag at highs, this high-flyer looks to breakout next week above the $86.30 all time high pivot

Trigger: $86-86.30

Stop: $83.99

Target: $92-94+
Hope to see you in the chat Monday.
$$$

7 comments

  • free online casino
    online casino real money no deposit
    real online casino
    best online casino

    Thurman

  • Hello to all, since I am actually keen of reading this web site’s post to be updated on a regular basis.
    It includes good stuff. https://www.rubber-wristbands-for-events.com/blog/wp-login.php

    Silicone bracelets

Leave a comment

Back to News