APA, ACB & BYND on the move
MARKET REVIEW
S&P 500 Index (SPX)
A big bounce this week has got a lot of people calling the bottom in the market.
Price found resistance at the confluence of the .382 fibonacci level shown on the Day chart and the 200 week moving average (not included in this chart).
If price can break above the .382 fib level and make new highs, then I am looking for price to reach the green rectangle target minimum of 2773.55.
Target Reached.
Keep an eye open for a reversal if this is a dead cat bounce.
SWING TRADE IDEAS
This week's trade ideas tend to be counter-trend low priced stocks and should be managed with a smaller than normal position size and stops must be honored.
BEYOND MEAT (BYND)
https://www.tradingview.com/chart/BYND/ZtNu58sA-BYND-Idea/
We mapped out this price action for a possible ABC correction. Our first B Wave target in the lower green box was reached..
We will be monitoring the price to see if it breaks above 78.60 before we get too excited about the Wave C target.
This a counter trend trade and should be monitored closely with smaller than normal position size.
BYND Is making a move.
I would like to see a pullback for a higher low before entering.
Maybe I missed it…...
APACHE CORP. (APA)
APA looks interesting to me with the consolidation and big price gap.
I will be looking for a long position Monday morning, waiting half an hour after market open before making a decision.
This a counter-trend trade and should be monitored closely with smaller than normal position size.
APA is up 77% this morning from the alert.
Raise your stop or take profits?
AURORA CANNABIS (ACB)
I got in a long position last week. I think there is an opportunity here and may add to my position.
This a counter-trend trade and should be monitored closely with smaller than normal position size with a tight stop.
ACB +13% since the alert.
Raise your stop or take profits?
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