Things are pretty quiet on the home-front here as futures are trading slightly in the red this morning prior to the open. Outside of the Wholesale Trade Report at 10am ET, there are no economic reports to be released today.
Here are Today’s Trading Ideas
Potential Swing Trade (Long): KB Homes (KBH) – Currently trading off of a short-term upward trend line that has seen its share price pull back to a significant support level, that provides a descent risk/reward scenario. Place your stop-l;oss at 15.89.
Potential Swing Trade (Short): Mastec (MTZ) – Double-top currently being formed along with a series of lower-highs. Still a little more follow-through on the downside still needed. Place your stop at 13.41.
Click here to See the Rest of My Trading Ideas.
Potential Swing Trade (Short): Yamana (AUY) – Multiple lower-highs and lower-lows, along with recent stagnation in the price of gold, AUY is set up as a solid short setup, not to mention the bearish harami candle in place after yesterday’s action. Place your stop at 10.74.
Potential Swing Trade (Long): Curtiss Wright (CW) – Put in a double bottom from November through February, has broken the neckline and confirmed the pattern and since pulled back to support. Could see a major rally from its current price point. Place your stop-loss at 33.78.
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