The following short trades will be moved to the Completed Trades category. While none of these trades reached their final price target, many of these trades did hit one or more profits targets before bouncing & exceeded their previously suggested (or any reasonable) stop level(s). As the charts on some of these trades still remain longer-term bearish, feel free contact me if you are following any of these trades & I will be glad to post or email and updated chart with comments. There are a few Active Short Trades under review that may be removed soon as well but the [...]
NTRI will be added as an Active Short Trade here following the recent breakdown of this very steep & very over-extended rising wedge pattern. Note how the slow line on the MACD is close to crossing into the "red zone", which has typically defined major downtrends in the stock. The sole profit target at this time is 11.10 with a suggest stop on a 2% or higher close above the recent highs.
The trade ideas have now been updated meaning that stocks/etf's listed in the Trade Setups category (longs and shorts) have either yet to trigger an entry or they are Active Trades that either still offer an objective entry around current levels or my be close to triggering another entry or add-on, such as the break of the next support/resistance area. I have decided to leave some of the Active Trades on that may have exceeded their previously suggested stop level if those trades still look good at this time. In fact, many of the Active Trades that do not also appear [...]
NTRI was good for a 19.4% gain when the first target was hit back in April. Since then, the stock has bounced sharply, reaching extreme overbought readings on the daily chart as well as approaching overbought levels on the weekly chart. Those overbought readings, more importantly combined with the fact that the stock has run into dual-resistance levels defined by NTRI's 7-year primary downtrend line plus a key horizontal resistance level, provide an objective swing-short entry on the stock at current levels. New targets & stops TBD soon. To account for the increased volatility and relatively large profit targets & stop, [...]
After coming within one cent of the first target before bouncing yesterday, NTRI has now hit T1 (7.30) for a 19.4% gain so consider booking partial or full profits and/or lowering your stops, depending on your trading plan. T2 (5.75) remains my preferred target for now and additional target(s) may be added once/if prices continue lower. Please note that the updated $DAX daily chart was initially missing in the previous post as I've been experiencing issues on the back-end of the website due to the recent programming changes and additions being made to the site. The updated $DAX chart has now [...]
Be advised that the NTRI short trade is now within 6 cents of it's first target (T1= 7.30 vs. current price of 7.34 as I type). As this trade is up nearly 19% from the entry on Jan 24th, make sure to have your limit order to cover in place if you plan to book partial or full profits at T1. My preferred target at this time remains T2 (5.75) as I continue to believe that NTRI has the potential to be a very lucrative long-term swing short. In fact, additional targets might be added to this trade but as this [...]
For those in or just watching the NTRI short, I have now brought the short to a full position. Since the last post, NTRI has given the "confirming" MACD sell signal (bearish MACD cross-over following the RSI drop back below the 70 level... see prior posts on this trade for details). We also have one last final confirming sell signal today as NTRI is breaking below the bear-flag pattern. I am also adding the targets as follows: T1 (first target) at 7.30 and T2 at 5.75. Again, I plan to play NTRI as a long-term (multi-month) swing trade and although my [...]