May 11th, 2017 Watch-list
Hey Traders! Another day in the books for the market and the DJIA posted a small red day. Nothing new to add to my take on the overall market for now. Remaining neutral. Daily chart below with key support and resistance labeled for review.
Current Stocks/ETF's on Watch:
NUGT: Open Position. Strong move today on the gap up at the open. Wanting to see another solid move tomorrow as well to really solidify momentum topside. For all in, have those stops locked in. Next key break, $31.53. Chart below for review.
UFS: Open Position. Continuing along that nice short term ascending pattern here. We were able to close above the 20sma which is a decent short term bullish sign. We'll want to see confirmation of that tomorrow by holding above that level. As usual, if in, make sure to have your 1/2 stop loss set and locked in. Chart below with technical breakdown and buy criteria, stop loss strategy, and profit targets labeled.
New Stocks/ETF's Added to Watch:
No new stocks or ETF's to add for now. Was considering adding ACCO, however it saw a bigger move today then I expected and I do not want to chase it. If it comes back down tomorrow, we may add it to watch then!