Finding A Trade With Edge
Sometimes the picture
just isn’t going to be perfect, but the intent seems perfectly clear.
Patterns sometimes have ‘wiggle’ or shakeouts beyond the support and
resistance lines that we look at when determining a stock’s technical outlook.
My attitude is that if rest of your trading edge is in place–maybe it’s time to
quit ‘standing in line’, before the stock decides to do its own kind of
‘checkout.’
13:18:09
Intraday Setup Alert
Whole Foods Market (WFMI)
is forming an intraday descending triangle
below its 20-Day EMA on heavy trade. The stock is also showing technical
deterioration with its daily stochastics and a break of an uptrend line in
today’s trade. WFMI is down 1.11 at 58.90.
It wasn’t any ten bagger, but I guess you could
say ‘going against the grain’ can sometimes ‘produce’, some nice intraday
‘fruits for your labor.’
Chris Tyler