This stock market in recent weeks has no doubt scared some bulls and a lot of traders are really tentative about adding new positions to their portfolio. So that sent me on a quest to find those stocks that, despite the recent weakness we've been seeing in general, is managing to still trade near its recent highs and has the ability to move higher in the days and weeks ahead.
The one that I really like here is Amazon.com which is nearing a long-term trend-line quite nicely, and if this market gathers some buying interest in the near-term, it could do quite nicely for the bulls.
Here's 15 Stocks That Are Your Best Defensive Plays.
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>
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SharePlanner provides swing trading, day trading, options income, and speculative strategies for traders. You will find a wide array of material to help develop and hone your trading skills and abilities, from videos and courses to learning about specific trading strategies. As always, SharePlanner will provide the best actionable trade ideas for "right now" as well as all of the research and technical analysis that you need to make you a better and more profitable trader.