Trading ZOOM Earnings Plus 4 Candles for Cash Flow 6-2-20
One of the biggest challenges for active traders is avoiding poor ideas.
You know, those trades that feel like you are wrong, as soon as you buy!
Most of these trades happen because you need to go a little deeper into your analysis and determine if the stock is in play.
You need to clearly see that stock is active. You'd be shocked at how many trades you make that have very little smart money activity.
Today we show you four candlesticks that show you exactly which setups are duds, and which should give you consistent opportunity.
These setups are the final part of your tape reading skills.
When you combine them with order flow, you gain a level of confidence you never knew existed!
Trading Game Plan 6-2-20
Watch: Today's Best Stock Picks
Quite a few active stocks having explosive moves into earnings.
ZM Zoom earnings are scheduled for after the stock market closes today. I'd be looking to trail a winning trade here and then carefully read the guidance.
Similar to NFLX, it will be hard to maintain the pace of the recent quarter.
WORK (Slack) has been a part of our watch list for a few months and today is the pay day with a price target raise by Wells Fargo to 41.
We are seeing similar price action in KSS and CAR. Yesterday's swing trade in CAR began with a bang and a 14% move.
In total we review 11 stocks to trade today. PENN and LULU have similar setups but represent different plays.
Also we give a detailed game plan for trading DKNG and the recent explosion to new highs.
Have a great day.
Pete
