My four favorite long stock ideas all closed the week on a near-term support level. As uncomfortable as it was on Friday bearing a drawdown in XLNX, I haven't stopped out because this is a significant support level where buyers may come in.
I was feeling really good after adding near the close Thursday, with very strong closing action in XLNX. It just shows how markets can turn on a dime (Iran news) and to always manage risk, always.
In all four of these charts, the price line is at the exact line of support. I suspect Friday was a shakeout for many stocks and players who got overly exuberant with call options on Thursday, because these support levels were not violated.
TWTR
WYNN
DIS
I was feeling really good after adding near the close Thursday, with very strong closing action in XLNX. It just shows how markets can turn on a dime (Iran news) and to always manage risk, always.
In all four of these charts, the price line is at the exact line of support. I suspect Friday was a shakeout for many stocks and players who got overly exuberant with call options on Thursday, because these support levels were not violated.
TWTR
WYNN
DIS