9898 trade ideas
WB, inside day @ 0.618 retracementThere has been crazy sector rotation these couple of days.
Most of the tech stocks and Chinese ADRs encountered a sold-off.
It's the time to choose direction and it did give an inside day for us to take our judgment.
If it's able to break to the upside, that means the 0.618 is playing as a support and it's time to long;
If it's able to break to the downside, that means the sold-off may continues and not a bad idea to follow the trend!
So let's see how it goes, and I'm more inclined to trade the breakout than the breakdown.
WB, extension of the FANG move/playLooking at the Fib extension of 23.6 around the 112 area for a good 3 pt risk, 10-11pt reward trade. The nasdaq still looks bullish as FAANG, with the exception of Netflix, all high volume spike gapped up from earnings reports and have not retraced much of their moves at all. These in the past cause investors to take profits and sell too early. The market is overextended as a whole, but we look at it one day and one trade at a time. It will continue it's trend until it proves otherwise. Trade accordingly.
WB, Inside day after new high and fig breakout combination.WB is definitely one of the most explosive stock this 2 years, rallied from 9.00 to more than 100.00 , and there are still people like me willing to chase it lol.
For stocks like WB, fundamental analysis is not really very helpful as the stock price contains too many expectation and the P/E ratio is just crazy.
While it doesn't mean chasing the price above 100.00 is foolish at all, as people may have the same discussion when it reached 50.00,60.00,70.00,80.00 ..........
, and all the people who were brave enough to long then were still able to make lots of money.
So everything is about trend and trading set-up, I always like to long the inside day after new high as no one knows how far can stocks go.
WB has an inside day after new high with a high @ 107.00, it created a little more power when the inside day high is right at the figure.
I'm willing to take the trade as it provides great risk-reward ratio with little risk.
*For educational use only
WB coming out of channel/flagWB just came out of channel or flag pattern so look for tomorrow for confirmation to the upside.
