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Breakouttrade

DKS Breakout Long TradeDicks Sporting Goods (DKS) is breaking out from a textbook cup with handle pattern. After nearly doubling in price between May and August, the stock stalled and formed a small pivot at the $115 resistance level. Relative strength has been climbing for several months - a sign that Dicks has been leading the surge higher and outperforming the rest of the market. Even in the late August market selloff, DKS held its ground and posted higher RS readings. I’m looking for a continuation of the breakout that began on Friday.
NYSE:DKSLong
by rossgivens
1
Breakout Trade in CSIQCSIQ is a market leader in today’s #1 sector - solar energy. Shares soared over 60% between July and August as solar stocks came front and center as a leading theme in the market recovery. The 200-day moving average has begun sloping upward, putting CSIQ at the beginning of a new Stage 2 uptrend (see my previous post on the 4 Stages of the Stock Cycle). The pink dots on the relative strength line on top of the chart signal new RS highs being made by CSIQ. In other words, the stock has held up better than the general market over the last couple weeks. I’d like to see Tuesday’s action stay inside of Friday’s range to post a true inside day. If that happens, I will look to buy on a breakout above the Friday candle at 46.25.
NASDAQ:CSIQLong
by rossgivens
Where I'm Buying CPRXCatalyst Pharma (CPRX) is an absolute monster. Not only is the company posting huge sales and earnings growth in a sector that rarely has either, the stock has more than doubled over the last few months. There are 801 stocks in the biotech group tracked by Investors Business Daily, and CPRX ranks at the very top (see image in chart). After such a large advance higher, we must remain cautious to the possibility of a retracement. So we need to see signs of additional strength to trigger an entry. I’m watching for a move above last week’s high for my buy signal. This way, I can place a stop below last week’s low and still get away with a risk of 8% or less on the trade.
NASDAQ:CPRXLong
by rossgivens
NBIX Breakout TradeNBIX is in the biotech sector which I have been highlighting for several months as one of the strongest areas in the market. After emerging from a textbook breakout pattern in early August, shares have consolidated in a tight handle formation. If you look at the relative strength line at the top of the chart, you will notice three pink dots over the last several days. These show the RS line making new highs. Although the stock drifted sideways, the rest of the market has been in an ugly correction, so NBIX is actually holding up better than most other names. I'm looking for a breakout on volume above its down sloping trendline.
NASDAQ:NBIXLong
by rossgivens
OTTR - Cup with Handle BreakoutOTTR just completed a 7-month cup with handle pattern, triggering a buy at the $70 mark. The fundamentals are incredible for this company. Sales are growing at 40% per quarter and earnings are up by triple digits. It meets all 9 of William O'Neil's CANSLIM scan criteria, and even has bullish 2023 estimates from analysts. There is a risk, however. First and foremost, the company is scheduled to report earnings today (8/1/22) after the close. Traders will have to decide whether to try their luck pre-earnings or wait until after the numbers come out.
NASDAQ:OTTRLong
by rossgivens
EURCAD I SHORT or LONG? Here's Your Plan!Welcome back! Here's an analysis of this pair! **EURCAD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
by BKTradingAcademy
2
ADAUSDT is testing the supportthe price followed my previous idea and we made more than 39%. Now the market is creating an ascending channel above the daily support. how to approach it? The price needs to have a breakout from the daily support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
22
DOTUSDT is creating a falling wedgeAfter an amazing profit, the price is testing the monthly support on 6.7$ on the 4h timeframe the market creates the falling wedge below the 4h resistance. How to approach it? IF the price is going to have a breakout from the falling wedge and daily resistance on 8$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
30
BTCUSDT wants the breakout?The price bounced on the monthly support on 29300$, it's a key level for Bitcoin. Now the price is testing an important resistance on 4h timeframe on the 0.382 Fibonacci level. How to approach? IF the price is going to retest it as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
8
KCSUSDT had a breakout! 18$ is coming!From my first idea, the price gained 37%. now the market is testing the 4h resistance after a breakout from the descending channel, and as I told you in my previous analysis, the price wants to retest the 18$, it's a key level. How to approach it? The price needs to create a clear breakout from the 17$ resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
12