Here’s A Potential Swing Short Opportunity
I found today to be another
excellent day to incorporate some research into the trading day.
Besides finding some more high-probability candidates for potential swing
trades, I also found more reasons to look at the current trading range in the
indices with extra caution, as the only stocks that have been moving up ahead of
the market, are entering key resistance zones themselves.
Yep, you could say Leggett Platt
(
LEG |
Quote |
Chart |
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PowerRating)
has definitely ‘shown some’ on the daily and weekly charts, but its another
stock that looks to be a prime candidate for technical swing shorts based on
Fibonacci analysis and ‘leg’ symmetry within the uptrending channel lines.
Personally, I’d like the stock to show even a bit
more leg, preferably into the 28 area–but depending on how today or tomorrow
plays out–she might very well be ready to take a step down.
Chris Tyler