QUICK STOCK STUDY: HOW MY HIGHEST-RANKED STOCK SET UPS PERFORMED THIS WEEK
This Week’s High-Ranked BreakOuts – Two Out of Five
At the start of the week my watch list contained 5 of the best stocks set ups that I could find. These stocks are of highly-ranked, financially sound companies and have properly formed technical bases. Each of these buy candidates were published in my Sunday Stock Report with their own individual trading criteria – such as a trigger price, trigger volume, maximum buy price, max stop loss, etc.
As regular readers know, when any particular stock from our watch list trades above its respective TRIGGER PRICE with the required TRIGGER VOLUME, that stock is then flashing our technical buy signal. We had 2 of the five stocks from the watch list for this week break out and trigger this week. Last week we had four out of the five.
1) MONDAY – Winnebago Industries (WGO- NYSE) $26.67
From this week’s concise watch list there was a clear technical buy signal first thing Monday in shares of WGO as broke out in typical fashion. This leader blasted to new highs, clearing our TRIGGER PRICE of $25.25 before closing Monday up better than +3% with a +143% increase in volume. The aggressive gains continued the following day with gains of +3.3 while volume rose +177%.
2) TUESDAY – Bitauto Holdings Limited (BITA – NYSE) $20.48
On Tuesday in shares of BITA as broke out as this leader blasted to new highs, clearing our TRIGGER PRICE of $17.06 before closing Tuesday up better than+11.4% with a +188% increase in volume. That bullish action continued on Wednesday before shares advanced to make a new all-time highs on Friday.
We have now entered into each of these stock on the breakout and are properly positioned. By doing so we have the highs of the most recent base as our initial area of support, with lower support being offered by the stock’s 50 day moving averages. This is coupled with a discipline to get out of a trade (MAX STOP LOSS) before any losses may get out of hand.
This is how I have been doing it, and how I have personally seen it happen over-and-over again for more than 10 years. These stocks start off as “set ups” on our watch list. If the market is right, then most break out, triggering their individual buy signals. If there are no breakouts, then we remain in a cash position awaiting a proper buy signal to emerge. By default this helps to keep us more in stocks during the better bull cycles and out during pullbacks when a rally may be under pressure. Get yourself signed up today and start profiting from this latest rally here.
Can you watch just five stocks a week ? ? ?
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