The first is Liberty Media (LMCA), which for years now has been a great upward trending stock. But if you'll notice, it tested that trend-line to day on an insane amount of volume, formed a hammer, and blasted higher.
The second setup is a short in Copart (CPRT), which ironically in the past, I have had ZERO success at going long on. So perhaps now, with a breakdown of the consolidation from the past month, it will finally give me those returns I always thought I could get out of it.
Here's today's Lazy Trade Charts.
Long: Liberty Media (LMCA)
Short: Copart (CPRT)
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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