Found this stock, WG as a potential swing trade and am in on this one. Yes, it’s in a downtrend, but looks to be behaving nicely within it’s downtrend channel and has room to move higher.
Look at how it found support and is moving higher in the chart below. Also, as further confirmation, it opened higher at 2.17 from it’s close yesterday at 2.15. Probably has room to roam up to 2.50. If that happens, I’m out at that point. Set stop loss at 2.10.
I also like this one, CDNA. First, take a look at the sheer misery of the downtrend that had dragged on from last summer 2016, up until this summer, 2017. Down from $6/share into the $1’s!
However, look more closely at the recent action. You can see that in the channel, ever since May, this dog has been in a nice trading channel. Take a look at the shaded area. Then, in July it traded out of the long term downtrend and spiked higher. This POS has some freaking life! I’m in on this one, and expect it to move into the $2+ range with ease. After that, major resistance would be around the $2.45 area trading range that occurred right before the price took another big hit.
Good luck in your trades!
The Greedy Goblin
8/21/17 – Update: Sold CDNA today at 2.00 for a 47% gain! Take a look below at the move after I got in. No doubt about it, that was an awesome reversal of a long downtrend.
9/6/17 Update: Sold WG for a 10% gain. Took a bit too long. Probably will go higher with hurricane Irma bearing down on Florida, but I’ve spent enough time in this one.
Greedy Goblin Trader 