WeWork Initial Public Offering Dropped-URBN Breakout Trade
URBN Urban Outfitters Inc Stock Chart 10.1.19
Two interesting trades today.
The first one is kind of a ninja/advanced trade that you won't normally see me post. This chart of URBN shows a clean breakout, after a bullish gap, after a trend day, that came after an inside day.
All very bullish signs.
However, this is a trade that catches many inexperienced buyers who are late to the party. IF today is an inside day, the odds of the stock falling back into the trading range and offering a quick profit (on a short sale) are good.
Keep in mind, this is a very specific play to trigger ONLY if we get an inside day. It's an advanced trade.
The second chart SKX, shows another clean breakout, but I'm looking to set up a 2-stage trade. Game planning an initial entry on a pause above this level, and then looking for a run at the new highs.
If we see volume and momentum through $40, I will add the second piece.
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also the only FANG stock that’s positive this quarter.
Despite Alphabet’s outperformance, Mark Tepper, president of Strategic Wealth Partners, is sticking with another FANG stock above the rest.
WeWork throws in the towel on its ill-fated IPO
(Reuters) – WeWork’s parent The We Company on Monday filed to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer.
reuters.com/wework-ipo-abandoned
Apple reclaims $1 trillion market cap after analyst says stock poised to jump 20%
Apple Inc. shares surged Monday and pushed the company higher than $1 trillion in market value again, following a prediction that the stock will rise more than 20% on stronger-than-expected sales of new iPhone 11 models.
