All three of the agricultural input stocks first highlighted as standout trade ideas in the June 2nd Market Wrap & Swing Trade Ideas video (and several updates since) continue to outperform the broad market, with potentially more meat on the bone left on at least two of those three stocks….
2+
THANKS FOR THRE UPDATES SIR! Just got into SNES, I had forgotten about that one
yten may hit resistance at 200D ~10.29 and trendline is also there on LONG term chart https://www.tradingview.com/x/3sxFrpOZ/
Thx for pointing that out. Could be an objective level to book profits if it gets there soon.
COW could also be setting up as it is descending channel and bounced from support a few days back
Yep. I’ll have to take a look at cattle & hog futures to confirm. Will do asap & let you know if I see anything that stands out on the charts.
COW is made up of lean hogs & live cattle futures. I just looked at the charts of both & can’t make a very strong case to step in & go long at this time. /LE (live cattle futures) is trading above decent support on the daily chart after recently coming off a divergent low with the PPO turning up while trading above the zero line. Of the two, that would be my preference to be long right now but as far as the timing oo an entry, hard to make a very solid case right now. Thx for pointing… Read more »
I should have included an update on CGA, which rallied about 70% from where it was first highlighted in that June 2nd trade ideas video (and several updates since), going on to make an impulsive breakout above the downtrend line followed by a brief pop above the 4ish resistance level/target with the next target of 5.65 about 80% above current levels as it offers an objective entry on this pullback to support.
Dear Randy, what are your updated thoughts on the pot stocks ?
The charts of most of the major cannabis stocks look pretty decent although I can’t make a very strong case to go long at this time. If I can’t some other standing sectors or various trade ideas to cover in a video soon, maybe I’ll do an update on the pot stocks as that seems to be a crowd favorite.
@rsotc Sorry if I missed that, if so please point that out and I will skim through your videos. However, what’s the fundamental catalyst behind agriculture stocks if you’re aware of it?
Also, would you take any close above $7 on YTEN into the market close today seriously (45 min left), and would it make sense to do a market-on-close order if it keeps trading above, let’s say $7.20? Trying to gauge if rushing into position before the market close is a bad idea or not. I prefer not to do that usually.
Thanks for the update.
Update: good volume on YTEN into close. I like it. Gotta jump in.
I didn’t see your question above until today but if YTEN was poised to close around 7.20, then yes, I think it would be an objective long entry with a stop somewhat below 7.00 while targeting just shy of the 10.90 R level. I’m not aware of any specific fundamental catalyst for the recent bullish momentum in the sector (today they are taking a breather) but a pretty decent technical (bullish) case can be made on many of those stocks with the recent divergence lows, breakouts above resistance levels, and even a valuation case for many, I would suspect from… Read more »
Thanks Randy. YTEN did close around $7.32 yesterday IIRC, so I jumped in, esp. because I saw a healthy volume. Currently it’s resting at the gap around $6.51. We’ll see how it turns out next week.
Looks like a break out on JO
Yup but 30.61 is a big resistance.
I know this is not in the Ag stocks, but I know some of us were questioning this stock several posts ago without a good response. Does anyone have a take on CAN right now?
Please see my reply to this comment posted earlier today under another post: https://rightsideofthechart.com/bitcoin-proxy-trade-ideas-gbtc-ostk-riot/#comment-18884