March 16th, 2017 Watch-list
Hey traders! Decent size green day for the market as the DJIA closed up 112.73 points. We found some decent support off that ascending 20sma and appear to be riding it topside at this point. Like we've been saying, until we get strong confirmation that the market is ready to head south in a big way, we'll stick with the overall trend! Daily chart for the DJIA below with key support and resistance labeled for review.
Current Open Positions:
LC: I know not many are left in this trade, but for the few who are I wanted to keep tracking it until either $4.99 is hit, or our second target is hit. Nice solid green day today on this one as we appear to be positioned to make a move back towards our initial target (could be an exit opportunity for those still in). Next key break, the 200sma at $5.37.
UFS: Nice 1.57% gain today. 4/4 indicators back working their way topside. Next key break, $38.18. Chart below for review.
PLG: Strong 6.92% move topside today on this one. Our initial target has now been broken twice. Our next target, $1.75, appears to be right around the corner. All those who are still in this trade, consider having your stop loss set at your break even price to reduce risk. Chart below for review.
ECPG: Nice 1.96% gain today on this open position. Next key break, $31.55. After that we have the daily 50sma, then we should be right at our initial target. So far things are working out nicely. Chart below for review. If you are not in at this point, do not chase in this level.
KRC: Daily and 15 minute buy received today on this one. Looking at the 15 minute chart, you can see we initially had a mixed 15 minute buy signal at around 10:30-10:45 eastern time. The price then moved topside and we ended up bouncing off the same level again around 2. Next key break here, $72.43. Chart below for review.
Current ETF's/Stocks on Watch:
OCLR: Strong move on this one today. Only problem is, it only gave a daily buy, and not a 15 minute buy with the price still within our buy range. Let's not be greedy and chase at this point. We'll wait and see if it comes back down to us. Initial strategy is still in place. Chart below for review.