Markets kicked off the week of Monday, July 17th choppy and mixed finishing relatively unchanged on the day. We’re heading into prime time earnings season which means potential sector/stock catalysts (positive or negative) could be right around the corner.
Here’s a short list of some of the swing trade setups that are on my watchlist over the next few days.
Given its earnings season, double check all of the report dates that follow.
The Russell 2000 $IWM is first up as it consolidates high and tight at this 142 area that has acted as resistance since early June. Today’s close was pennies away from all time closing highs.
GoDaddy $GDDY has been coiling sideways since early June and looks like its getting ready to break out. I like it long above this 43 area.
Allison Transmission $ALSN still needs some time, but the structure of this base looks favorable for bulls. A trigger above this flag, or above 39 horizontal resistance would set this trade in motion.
Citigroup $C already reported earnings and we can see it has spent the past 2 weeks pulling back off of its multi-year highs made early this month. Subscribers and I just closed out a multi-point long trade in this name, with rules to exit the position before the earnings report. Keep an eye on this 20 day MA for continued dip buying.
We hold no positions in these securities at the time of posting.
Good luck out there.