after hitting and consolidating around the first target level for a few days, the CWTR long popped on strong volume today and is roughly half-way to the previously posted T2 (2nd and final target). however, based on my outlook for the broad market plus the fact that CWTR has a lot of supply (resistance) to the left of the chart due to the aug '11 to june '12 trading range, i am revising the final target to current levels (.96) and would consider booking full profits. this gives the CWTR long a 37% profit from the entry posted less than 3 [...]
the CWTR long has hit and exceeded T1 today (0.80) for a 25% gain from entry. the stock ran as high as the 0.89 level, a 39% gain, which it then found resistance at the 200-day ema & has pulled back. T2 remains the final target for now although additional targets might be added to this trade later. edit: correction- the total gain to T1 from entry was only 14.3% & not 25% as stated above. this trade was posted active at .70 on the day of the breakout.
as the market is basically in a holding pattern in front of the fed tomorrow, i'll start to post some of those longs setups that i mentioned yesterday. this first one is CWTR, which in hindsight i should have posted yesterday as it was just below the downtrend line that i was tracking and ready to pop...and pop it did today, up nearly 13%. however, there is still plenty of meat on the bone but keep in mind that we are almost certain to see some volatility this week as the market absorbs the fed statement as well as the unveiling [...]
right after the MOO trendline alert this morning, i also receive one on the CWTR set-up recent posted. if you decide to take it, i would normally tell you to watch for above average volume to confirm the breakout but that doesn't really seem to matter much in this market lately. longer-term traders, investor might want to wait for a solid candlestick close above the pattern although i will say that this one has "short-squeeze" written all over it so it could rip if the breakout sticks and the market continues moving higher. as always, DYODD and remember, CWTR is just [...]
i had an absolute field day swing trading CWTR multiple times, mostly on the short side, throughout a good part of it's descent in recent years. i now have alerts set on both sides of this ascending triangle pattern. although these are inherently bearish patterns, they can often provide very lucrative long-side trades on an breakout to the upside. please ignore all the lines on the top of the chart which i just haven't bothered deleting yet. as prices are currently at the top of the pattern, which is nearing apex, i have added the first two targets should we get [...]