I've been sitting on the sidelines today, holding off on getting into any new trades. But if you have the itch to do so, I've put together two new trade setups to take advantage of, depending on which side of the fence you are on.
With FBHS you have a solid uptrend followed by a bull flag pattern that it is trying to break out of. What is also appealing is the bullish kicker from yesterday and today where you have a solid down day, and then a gap higher today above the previous day's action.
With COG you have a triple top breakdown that could lead to additional downside in the day's ahead, particularly if the market follows suit.
Today's Lazy Trades:
LONG: Fortune Brands Home and Security (FBHS)
SHORT: Cabot Oil & Gas (COG)
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. More >>
Get Ryan's Top Six Trade Setups for Profitable Trading eBook for Free!