This is a question that I get asked often. What is the best strategy I can use?
Well the answer to that question is simple. It depends on your trading strategies, meaning whether you are day trader, swing trader, or an investor.
Generally we look for stocks that have broke above major moving averages (21 and 50 SMA) with a big price and volume surge. We then look for the stock to pullback, testing and remaining above support and/or one of these moving averages.
At that point we want to see a bullish candlestick formation (bullish engulfing, piercing line, bullish kicker...) as well as recent support levels holding, both on the daily chart and intraday (15-min and hourly chart), to confirm that the pullback is over and price is ready to move higher.
Good Trading!
Trading Risk Disclaimer
All the information shared is provided for educational purposes only. Any trades placed upon reliance of SharperTrades, LLC are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, cryptos, commodities, options, forex and other trading securities, there is also substantial risk of loss. All trading operations involve high risks of losing your entire investment. You must therefore decide your own suitability to trade. Trading results can never be guaranteed. SharperTrades, LLC is not registered as an investment adviser with any federal or state regulatory agency. This is not an offer to buy or sell stocks, cryptos, forex, futures, options, commodity interests or any other trading securities.