Today I want to share with you a quick little clip from our swing trading membership plans.
If you’re brand new here, take a look at the member’s section. If you’re trying to learn how to read the swing charts on how the market is moving in the current market conditions go to our membership area.
Here you can see:
- swing charts
- technical analysis charts
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Enjoy this quick little clip. That way, you get an insight. It’s a shortened clip for the member’s section. It’s the longer version, and for those of you that are members, feel free to log into the website and watch the full video.
Disclaimer: Keep in mind none of these are recommendations to buy, sell, or trade stocks. It’s just my thoughts and opinions.
Taking a look at KMX
Here’re some of those all-time highs. There’s your resistance; then you get into this – you’re breaking down.
Watch for possible support at this level. So this might be an excellent value buying opportunity. That’s because here’s your support level.
And here is your bearish volume that’s coming into play. The stock has been doing very well. If you look at it, this is possibly your ABCD pattern right there.
The stock created this pattern, and it’s doing okay. But now the pattern has concluded, so it needs a pullback or a rest. And that’s what’s happening right now.
We’re pulling back a little bit, and 80 could be a potential where that stock may hold some support. In the meantime, I’d say be patient and wait for it to come down.
Find support, and then bounce. And that could be an excellent opportunity. But you’ll see a lot of stocks that are doing this thing that is coming into these highs and creating a bit of problem.
Taking a look at Coca-Cola – KO
When we look at this one, we’ve got resistance here overhead. You also have some support right there. Ultimately we’ve been moving in the sideways consolidation pattern right there for the stock.
I think you’re hitting some highs there. In the meantime, you could play this 52, 55 range. But if it breaks above that 55 level that could be good.
Otherwise, wait for about that 52. This is a better opportunity here when the stock gets back into this level for a possible bounce. In the meantime, you have a little bit of a double triple top.
And what I would watch is if you do break above that level, then you could also be another positive movement.
Taking a look at Lockheed Martin Corp – LMT
That’s been doing fairly well recently, breaking out right here. It’s a simple little pattern here. And then you’ve got support, and you can see right now we’re pulling back a bullish volume it was happening there.
A stock looks good for possible higher prices. A small little pullback is normal after a big pop. So pull back and bounce would be ideal. And that’s what you’re watching for.
Can we get a pullback and bounce?
That would be healthy and watch for more bullish volume. And that’s ideal. Otherwise, I’d say I’m bullish on the stock as long as you can hold that 400 price level.
It’s above 400. As long as volume stays there, as long as we hold that support – it’s okay.
Taking a look at WIX
Check this out right here. This was our support level. The stock was moving, and then we’ve got here support and resistance that you may want to watch.
If we break above that, that could be good. You also have a resistance over here – also a bit of an issue and some problems. Watch those few levels. But if you break above this, that could be a short-term entry point.
This is a better value spot. But this one also an entry on the break. Over here, if you can get that entry on the break, that could also be a nice one too.
The bullish volume is not huge. Still be careful about all these, on the movements. Just watch out. Take a step back because you don’t have a huge influx of bullish volume.
Taking a look at Walmart – WMT
I’d say this is something to watch out. Take a look – it’s been hovering sideways, and now it’s pulling back and rolling over.
You’ve got that resistance there working. Be a little more neutral on this. I’d say watch this level, better support here. And if it can’t hold here, it’s probably going to roll over.
That bearish volume is not looking good. I would say be a little more careful there. It was your resistance there. Be careful there.
If it can’t hold that support, it could continue to roll over further. And then I would watch maybe more this level. This could be a better value opportunity down over here in the 105.
And for a stock like that at 117, that’s a pretty big pullback.
Thank you so much for joining me, and I hope you enjoyed this quick little clip to give you some insight on what the membership is all about.
Don’t forget to check out the TradersFly website; there’s a lot of great getting started pages.
And check out the member’s section!