Best Bet going forward into next week will trades taken in Options will be a focus stock in video
Best Bet for this week in Focus $NAV
I want to go into focus on a couple set ups off this HPS week’s watch list. I consider NAV the Best Betfor the week and MDRX is a cheap one but has all the characteristics of a HPS but not the price I normally trade.
The First is $NAV
This set up consist of 2 HPS Playbook Plays which makes it “Super” HPS 2 patterns during the same time frame.
It is a channel within a channel and a Coiled stochastic channel breakout set up. The latter being one of my favorites. You could also classify this as a oversold stochastic channel bounce.
The first target would be an old trend line retracement and the larger range target would be the gap up near 34.00
The Second set up is MDRX it is a cheapie but worth mentioning here I traded this before and like repeating pattern that has set up
As with any cheaper stocks I tend to caution you on expecting any fast moves and cheap stocks are cheap for a reason. But the pattern is there and I expect it to move and hot our target this week.
Most of the stocks I bring on the weekly watch list will fall into a identifiable pattern and will be considered HPS Yesterdays Video contains many such setups be sure to review them and plan out what ones are right for you.
Bonus: I expect IBM to have no issue getting back to 163-164 I will be looking to get some calls early in the week if there is an opportunity.
I will be broadcasting live these trades and many other each day live on www.daytradingradio.com
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