This is my first trade after being back from a short vacation since last Wednesday afternoon. Thank goodness for those 5-hour energy drinks or I'd be lagging quite a bit today.
The trade in Crocs (CROX) comes off of my watch-list, and a stock that I've been following for weeks now waiting for an ideal entry. Now given, CROX can be a volatile and often unpredictable stock, but in recent months, it has settled down quite a bit.
So with this trade I see:
1. Inverse head and shoulders pattern
2. Bull Flag for a low-risk entry
3. Pullback to the existing uptrend.
I've also gone ahead, as usual, and put my entry, stop, and target prices on the chart as well for better visualization.
Here's the CROX Chart Setup.
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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