ADBE bullish hammer on daily sick tradeADBE bullish hammer on daily sick trade. Technically gap and go, but see how ADBE made gap and goes that didn't go twice through the downtrend, why wouldn't it do the same again?! Stop loss under monthly MA 100, take profit on daily MA 100. Play it wide. I mean, look at this volume.
Gapandgo
The best intraday opportunity today (SWBI)Today's trading idea is focusing on NASDAQ:SWBI
The stock is gapping down to $14.5 (pre-market) after worst than expected EPS and sales results.
The stock broke a major support level and now pre-market trading is below that level.
The idea is to go Short at the open when it will try to move higher and fails. (What we call a gap and Go)
S&P500 futures opened the week with a GAP DOWNAs expected with last week’s idea post, the correction phase is underway, and it is rather massive with a Gap Down of -1% to open the week.
IF the momentum continues, this is very bad news for the equity markets. The current outcome and probable continued momentum is triggered by the weekend surprise of Northern Italy COVID-19 outbreak and lockdown, as well as South Korea’s escalating infections and deaths, including a national highest alert.
These two events were not expected and the two countries have over taken Singapore as the top gunners, after China.
On the heels of topping out last week, the technicals for this chart is very bearish, and would likely continue to be so for the rest of the week. In the last year, this is the second Monday Gap Down in the /ES futures Of more than 1%.
DLTR Gap and GoThis is a stock on fire after earnings up 9% and gapped out of range, this offers a great entry either now or better to wait and buy if retrace or breaks todays high. The options for Jan 17 are 8.40 today if willing to take say 25-30 % risk you want to get 60% gain at least. Potential here as the volume is very good as well great same store sales and earnings beat
UA Gap and GoUA moving higher, this is a trade you can take in a few ways.
1. Wait for today to close and then watch for tomorrow if breaks todays high then take the trade long
2. Wait for today to close and then watch for pullback, when bounces (pivot) buy on bounce which happens often around gap as support
3. Wait to see if fills gap then don't trade off that.
The gap and go is strong
CELGThis is a double strategy with a gap and go and a cup breakout. Thus I would look to buy either tomorrow if a break above today's high or wait for a pullback to gap and then a pivot allowing opportunity on the bounce to buy with stop in the gap look for a strong run on this stock.