Evan_Moe_Money
Short

Take a short swing. And then, take a long swing

NASDAQ:CORT   CORCEPT THERAPEUTICS INC
This is a very nice setup for swing trading.

we have a strong uptrend with a correction coming in, if the past tells us the future. and after that we should see another long swing.

So, take your positions, or do not. I am pretty sure the uptrend is broken soon and will end up in a correction, wich leads us to the next upward movement.

Happy trading for you and a good start into this week!
Comment: I think, soon we should take the profits, and prepare to go long on this one
Comment: Sometimes it is scary to press the "play-button" on these charts... =)
Comment: This one really goes exactly the way it should go. EXACTLY.
Kapitalerhalt steht über allem.

Trade what you see, not what you think
Any update new update ?
Reply
Evan_Moe_Money himanshugodhwani
@himanshugodhwani, Thanks for asking! If you look at it in the weekly chart and zoom out, you'll see we are at the highest this stock has ever been. So, I guess the Uptrend will continue in the mid term (3-6 month). BUT there might be a correction kicking in at any time. Problem with the stocks on all time high hunt is, we don't have a structure, there are no signals / key levels from the past. So its really guessing as long as we don't get clear formations or signs.

Right now, it seems that price just forms new high, followed by little pullbacks, caused by profit taking. So my advice for this stock is: trade it actively. That means, wait for a pullback to end, enter a position and trail the stop until either a new high, or until the next correction comes in. For me, I use the daily chart, and my pullback entry criteria is a green candle that closes higher than the last candle was at its high.

Hope that helps? let me know!
Reply
himanshugodhwani Evan_Moe_Money
@Evan_Moe_Money, Thanks, Probably its too high now waiting for some pull back and will enter again.
Reply
himanshugodhwani Evan_Moe_Money
@Evan_Moe_Money, I'm new in technical analysis, can you give me an example of - green candle that closes higher than the last candle was at its high.
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