WFM (Whole Foods Market Inc) is too overbought for my comfort level after a very extended, near-vertical rally from the bottom of this 1.5+ year basing pattern to the top of the trading range. As such, my preference for a long entry will either be a breakout above the top of the base IF the [...]
An overview of some of the unofficial swing trade ideas posted in the Trading Room (9 longs & 1 short). The following trade candidates are discussed in this order: MNKD, TEVA, WFM, FCEL, GPRO, AMKR, IONS, CARA, STNG & PIOI.
As I'm now able to focus my efforts on the long overdue process of cleaning up the Trade Ideas category, I am doing so in phases starting with Short Trade Ideas (Setups and Active Trades). I did a once-over of all the charts and placed one of three symbols next to each trade; "OK" means [...]
The WFM short hit the first target (T1) today for an 11% gain from entry. I'd probably put about a 50/50 chance on whether or not we get a decent bounce before breaking below that level but my preference is to ride out any bounce and hold out for T2 before booking any profits on [...]
In reviewing the short trade ideas, I noticed that the WFM short has been active since just before I started adding the actual price levels to the targets (previous charts just showed a horizontal line at the target level). Therefore, I have added the suggested target levels to this updated chart. WFM was originally posted [...]
like an almost "too common" theme, WFM was triggered as an active short on what proved to be a false breakdown about 4 weeks ago. the fact that we had some many well defined trendlines and technical patterns breakdown that week, only to see prices quickly reverse & close the day back inside/above those patterns/trendlines [...]