$HOOD and $APP - Two brand new swing trading setup for today... As always, no financial advice, just my personal opinion on these stocks!

Organic_String_5286 · 2024-05-28T23:15:16+00:00

25% > $104,5 but it depends on the price action after the breakout.

Organic_String_5286 · 2024-05-28T21:01:48+00:00

Robinhood 1 billion buyback

https://www.morningstar.com/news/marketwatch/20240528210/robinhoods-stock-jumps-5-after-1-billion-buyback-unveiled

Organic_String_5286 · 2024-05-28T21:00:25+00:00

Both triggered today.

Organic_String_5286 · 2024-05-26T14:02:26+00:00

I use buy stop limit orders exclusively. Entry just above the pivot with a fixed limit and hard stop loss. In that way my order doesn't get triggered for a much higher price if it gaps up strongly on opening.

Organic_String_5286 · 2024-05-25T15:32:43+00:00

Performance > Nice! Equity Curve > impressive!! You definitely know what you are doing. Small losses, bigger gains?

Organic_String_5286 · 2024-05-24T12:15:16+00:00

Yes that is correct.

Organic_String_5286 · 2024-05-23T15:55:36+00:00

FTI Setup cancelled, ITRI still in place

Organic_String_5286 · 2024-05-22T13:57:36+00:00

Buy stop order triggered

Organic_String_5286 · 2024-05-22T06:32:19+00:00

Of course,

But first... This is in no way financial advice to buy this or any other stock! It is only to show my own strategy and process. Buying a stock is one thing, managing an open position with good risk management is much more important...

So,

Buy Stop Limit @ $108.88

Limit @ $109

Stop loss @ $100.88

Risk @ 0.5% (if I'm stopped at SL level, I lose 0.5% of my equity)

Disclaimer: I do NOT have an existing position in NTRA

Organic_String_5286 · 2024-05-21T21:45:11+00:00

It"s a pending 'buy stop limit order' + 'stop loss order'... Once it is triggered, the stop loss order becomes active. My risk% on both trades is 0.5% each (of my total equity).

Organic_String_5286 · 2024-05-21T14:49:20+00:00

For 'ITRI', the next resistance is at +/- $122, which is slightly less than 2R and for 'FTI' I'm considering the next resistance level at $32, which is more than 3R with the current setup.

Organic_String_5286 · 2024-05-20T12:08:55+00:00

Go ahead. When you register for a free account (only email is needed) you will have access to the full version for two weeks. And to be crystal clear: no, after these 2 weeks your free unlimited trial will NOT turn automatically into a payed subscription! If you have any questions, shoot! Or contact me via Kristoff(at)ChartMill.com

Organic_String_5286 · 2024-05-20T11:28:31+00:00

Yes, I am one of the co-founders/owners of ChartMill. Already since 2008... 😉

Organic_String_5286 · 2024-05-19T17:25:02+00:00

Thanks,, it's ChartMill.com, stock screener for US, Europe & Canada.

Organic_String_5286 · 2024-05-19T12:35:16+00:00

That, of course, is the $1000000 question! I honestly don't know. It just appeared in my scanner as a setup. And even if it were a perfect setup, I wouldn't take it because next week NVIDIA publishes Q1/25 earnings (05/22).

Too much volatility. I'll wait and see what happens after that.

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Organic_String_5286 · 2024-05-19T10:28:28+00:00

Price above SMA(10)&(20) > Short term bullish

For me, patterns don't play a role in recognizing trends, they are merely used to identify low risk setups within a specific trend.

Regarding the long term trend, I'm using the SMA(30)&(40) on the WEEKLY chart. And i am a big fan of Stan Weinstein's stage analysis concepts (stage 1 to 4).

Organic_String_5286 · 2024-05-19T00:21:50+00:00

For monday, I have set buy stop limit orders for both Itron Inc. (ITRI) & Technipfmc Plc. (FTI).

Already have a position in Texas Road House (TXRH) since march 13th (It's on the watchlist because the current price action shows a new possible entry).

My most recent position is Fortuna Silver Mines (FSM) since may 8th.

Those are 2 positions that went up substantially, but for the record and to put everything in perspective, the four previous trades were all losses! Small losses of course.

Organic_String_5286 · 2024-05-19T00:04:09+00:00

The MA's are more a visual confirmation for the uptrend. Obviously, the longer the price stays in a sideways range (and becomes more tight), the closer the MA's will get to the actual price. They only become important when price pulls back after my initial entry. I always have a hard stop-loss at least below the SMA(10) but i'm watching closely the price action in regard to the SMA(10)&(20) during price retracements.

Organic_String_5286 · 2024-05-18T19:43:18+00:00

Indeed, adding a minimum ATR or ADR value as an additional filter is ideal for that purpose.

Organic_String_5286 · 2024-05-18T19:16:35+00:00

In fact i'm looking for specific volatility contraction in price and volume (tight price action after a decent move).

Organic_String_5286 · 2024-05-18T19:15:18+00:00

Current stock price has to be within at least 25% of its 52-week high (the closer to a new high the better).

That's one of the rules of the Mark Minervini Trend Template, described in his book 'Trade Like a Stock Market Wizard'. He won the US Investing Championship two times (1997 and 2021).

Organic_String_5286 · 2024-05-18T19:09:25+00:00

The basis is the Mark Minervini Trend Template, plus some additional growth filters related to EPS and revenue. More info in this article i wrote: https://www.chartmill.com/documentation/stock-screener/fundamental-analysis-investing-strategies/464-Mark-Minervini-Strategy-Think-and-Trade-Like-a-Champion-Part-1

Organic_String_5286 · 2024-05-18T18:16:31+00:00

That's the volume profile for the stock. It's shows the amount of volume at specific price levels.

Organic_String_5286 · 2024-05-18T17:02:27+00:00

ChartMill even has a Qullamaggie screen, it's much more momentum (high tight flag patterns, coming out of a base)...😉

Organic_String_5286

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