Here’s How A Reversal Can Develop
The reason we look for technical
supports is so we can adequately measure our risk vs. reward when looking for
reversal trades. One of the new areas being developed in our early morning
alerts at TradersWire, tries to do just that for our subscribers.
09:23:00
Swing Trade Setup
Silicon Laboratories (SLAB)
could be setting up for a potential swing trade as it bounced off the confluence
of a 50-day average, a 50% retracement of its February lows, and a 38.2%
retracement of its January lows. Silicon Labs has a TradingMarkets.com
3-month RS ranking of 70.
Hopefully, we’ll have
a lot more of these down the road. Vincent
posted the original alert with the attached daily graph, making a case for “the
weight” to come off of SLAB. For any of you that have listened to Haggerty in
the past, you might know that infamous quote, “It’s too
easy!!!”…well, by the looks of it, Vincent might have been taking some
private lessons from Kevin himself.