March 20th, 2017 Watch-list
Hey traders! Small red day for the market as the DJIA closed down 19.93 points Friday. We are still holding above that daily 20sma which has been acting as a nice short term level of support. A solid break and close below that could signal a bearish move down towards the 20,500 level and/or the 50sma. For now though, we'll remain on the bullish side of things until the chart shows us otherwise. Daily chart for the DJIA below with key support and resistance labeled for review.
Current Open Positions:
LC: This one was able to go up late last week and re-break our initial target for a second time. Hopefully the few of you who were still in were able to lock in some profit. If still in, at this point if we get another daily sell signal, I'd look to exit. Chart below for review.
UFS: We've essentially been moving in a small sideways channel for the past 8 days on this one. The next key break is going to be that descending 20sma on the daily chart. A break and close above that and we could see a move towards the $38.50 range. Chart below for review.
PLG: This one has already broken our initial target and then some. Came within 1 cent of our second target but ended up posting a red day Thursday followed by a small green day Friday. If still in, have your stop moved to your break even price to reduce risk. Chart below for review.
ECPG: This one was able to briefly go up Thursday and touch our initial target before pulling back slightly Friday. If some of you were able to exit on Thursday with all or a portion of your shares, good job! For those still in, have your 1/2 R/R ratio stops set and lets see if we can get a momentum shift back topside early this week. Chart below for review.
KRC: Strong move here the past few days to close out last week. We're presently sitting right below our initial target at this point and 1 more strong push should get us there. For those in, make sure, if your broker allows you, to have both your profit target order set and your 1/2 R/R ratio stop order set. Chart below for review.