Here are ten charts that stood out to me while going through my swing trade scans. Almost all are short candidates. There are tons of charts like this right now, most of which are short-term overbought and near resistance. Many of these made some kind of bearish candle yesterday (bearish engulfing or some kind of star) or made an NR7. My normal swing trading rules would apply and I wouldn't want to chase any of these very far.
Nice setups Mike and interesting use of multiple colored charts. Perhaps we need to give that a try on stocktradingtogo, brighten things up a bit.
Thanks for the great article Mike. I especially found CAT interesting.
Happy Trading!
Good post Mike. I too have CVX on my watchlist as a potential swing trade to short. I like how this stock is stalling at the 50 day moving average and the lows from September. We'll see what happens.
Guys, keep an eye out on the airline stocks like UAUA & AMR. Reliable trenders, pointing down now.