Traders’ Delight — AVIR
It is a lot easier to trade with the direction of the market. In other words,
we will buy uptrending stocks and sell downtrending stocks. Once we find a
strong stock, we just need to wait for the two popular patterns to develop on
the chart. I’m talking about pullbacks and breakouts. Also, keep in mind that
the trend of the market is tough to break. Uptrending stocks continue to go
higher, and weak stocks will continue to sell off.
The chart below is a five-minute chart of Aviron (AVIR).
As you can see, this is an excellent example of an uptrending stock. The stock
provided the first buy at 10:00 a.m. after pulling back from the intraday high.
The next buy entry came around 11:10 a.m. when the issue bounced off the
intraday support level. For breakout players, AVIR rallied out of a flag
at 12:40 p.m. and another one at 1:20 p.m..
Don’t try to outsmart the market. Just follow the trend.