I ran my stock screen for momentum stock plays and really nothing showed up, which is actually a good sign that this market is getting oversold here and the stocks are reflecting that.
However there is one stock that stood out from the rest: W.W. Grainger (GWW) which has the pefect box of consolidation working in its favor and if it breaks above $210.77 I would absolutely take a long position in it. You stop-loss should be placed at $199.95.
Overall a very solid trade setup, and probably one of the best ones you’ll find in this market.
Here’s the GWW trade setup.
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