Switching Sides And Stepping Up To The Plate
When an issue is on a ‘quest’,
don’t just write it off because it was on your ‘stink’ list. It’s
not always the case, but sometimes when a stock moves a tad in the other
direction, and clearing key technical resistance in the process, you might want
to find a way to hop on board out of a classic consolidation pattern.
‘Ooops my bad, once again.’ I do it all the time
in the Nightly Daytraders Report. I end up selecting a stock that ends up moving
in the opposite direction. One of today’s gems was Quest Diagnostics (DGX). Don’t
get mad, get even? Nah, for the most part I’ll end up looking elsewhere for
setups that are qualifying in the here and now. Unless of course, it happens to
be one of those moves, that ‘moves’ a lot of the earlier problem out of the way.
11:48:36
Intraday
Setup Alert
From the Nightly Daytraders
Report, Quest Diagnostics (DGX)
has formed an intraday Cup & Handle pattern above both the 50 and 200-Day
EMAs. Triggers are set thru session highs of 61.09 with the stock up 1.09 at
61.06.
No harm, no foul in my book, especially if the
stock is still allowing you to ‘book’ some profits in the other direction.
Chris Tyler