Hot Trade In A Forgotten Sector, SPY Signal, And…
This Forgotten Sector Is Setting Up A Breakout
Headlines are fickle and todays darling can be quickly forgotten. Solar and clean energy stocks were all the buzz not to long ago and today they aren’t getting much play in the media. But one green ticker is about to trip a bunch of the algos and has a high likelihood of busting out. Keith Harwood joined us to shine a light on this ETF that has been coiling up for a while and is ready to spring. To see the indicator he spotted that will trigger automated systems to start buying it up, check out this quick video. Then decide for yourself if you want to get ahead of the buying and ride the wave.
DexCom, Inc. (DXCM) Trending Stock Report
DexCom, Inc. (DXCM) appeared on our list of compressed stocks this morning. As you can see in the charts below, the stock has a history of making big moves soon after a compression signal. DXCM is a biotech company that makes continuous glucose monitoring systems that provide real-time data to patients with diabetes. From an options trader’s perspective, the 1-month implied volatility hasn’t been this low since August of 2021. This tells us that current options prices are cheap. In fact, our software’s unique ability to value the neutral option buying strategy that we prefer tells us that the strategy is trading at a 37% discount to its value.
I Called That Drop. What’s Next…
The cycles I highlighted the last few days appear to have rolled over as anticipated. The recent high would act as a point where I am wrong, however from the entry point on Monday there was very little adverse heat before today’s move lower. Lots of potential here for very little risk.
SPY Signals A Turn And Potentially Profitable Trade
Let’s start the week out by looking at trade examples in the SPY. We’ll take a look at what is going on this morning, a great indicator that is effective in this situation, and why the SPY is an excellent choice for trading options. At the bottom of this email, I even include an update on a previous example.
How to Profit if COST is Up or Down?
I’m sure you’ve heard of this company before, but I’m not sure that you know that they’re currently set up for a prime buying opportunity! Today we will be looking at Costco Wholesale Corp. stock symbol: COST.
Chart of the Day: Target (TGT)
Keep an eye on oversold shares of Target (TGT).
After gapping from about $155 to $144 after guiding below estimates, it appears to have caught strong support. It’s also over-extended on RSI, MACD, and Williams’ %R.
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