Swing Trading setups to take a look at

There’s not a ton of short setups that one can even find in this market without having to risk jumping in front of a freight train hoping for it to stop in time. At least that’s what I’ve found in my scans today. On the long side, there are a lot of stocks that are well over-extended. 

So one has to be choosy in this market. I’ve yet to add anything to the portfolio, and will likely look to cut out a non-performer out of my portfolio today, and capture the gains in another that looks to be a bit overextended. 

The Target (TGT) short setup rises back into a resistance zone that could lead to a new downside reversal. Reward-to-Risk is about 2:1. 

The long setup looks much more favorable, considering this market, with Wynn Resorts (WYNN) where there is a long-term cup and handle pattern playing out. Ideally, you’ll want to get long at $115.32 if provided the opportunity. 

Here’s today’s lazy swing trades long and short.

LONG: Wynn Resorts (WYNN)

Wynn Resorts WYNN Swing trade cup and handle pattern

SHORT: Target (TGT)

Target TGT swing trade short

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