Trend Following Stock Picks for April 2017:
Welcome to another edition of trend following trade ideas! I hope you’re having a great weekend. And I hope this blog post helps you make the most of the upcoming trading week.
I’ve got a variety of family commitments this weekend. So this post will be a little more straight-to-the point than usual.
But first… talk about a crazy news week!
Yet despite all the hoopla, markets were only slightly lower for the week. The Dow was basically flat!
This is exactly why I like to focus on price first. Because in reality, you never know what’s going to move the market. And you can really tire yourself out trying to guess!
All that said, I did have a few exits trigger this week.
Although I’d had high hopes for ATHM (featured here), it immediately reversed after I bought it. This week it finally hit my stop loss.
But since you can’t win ’em all, that’s just how trading goes sometimes!
I also closed out a trade in JPM for a small profit (mentioned here). To be honest, this represented a significant drawdown from the peak profit in the trade.
But those are the breaks when you plan to sell with a trailing stop-loss!
Plus, I still have a few other financial stocks that could keep me in on the action should that sector catch a rotation of capital.
The good news from these stock sales is that I have some new money to put to work. And conveniently, I also have some new trade ideas to share with you.
So let’s get into it, shall we?
Trend Following Trade Ideas for April 2017 (Part 2):
Even though the major market averages weren’t exactly explosive this week, there are still lots of opportunities under the surface.
So here are some potential places I’m looking to put new money to work…
The first trend following idea that has my attention is BA. The stock is in a solid uptrend, and could be consolidating in a bull-flag at the moment. Plus, the recent low is easy to trade against.
The next stock pick on my radar is CMCSA. This stock looks to be in a good position following Congress’ decision to grant ISPs more power. See for yourself:
In fact, I actually picked up a few shares on Thursday at $38.28. And with the new cash from my Friday sales I’m seriously considering adding to the position.
On the small-cap end of the stock picking spectrum, TEAM is on my radar. I’ve previously analyzed this agile SaaS growth stock on Seeking Alpha.
But as you can see above, now TEAM is setting up again for an actionable long entry. I’m often an eager buyer when fundamentals and technicals align like this.
Another tech-based idea I’m interested in is SWKS. The strength in semi-conductors has been impressive, and SWKS is no exception.
Take a look:
While there is some overhead resistance for SWKS, the stock has been making an impressive move. I’m encouraged by the bullish candle, especially following the month-long consolidation.
Finally, STX looks like it might be setting up again. Although I usually like to buy stocks at new highs, this one is on watch because it looks like it might be bouncing within the context of a larger uptrend.
Here’s what I mean:
The stock has worked off overbought conditions and now might be poised to push to new highs. This could be a slightly lower probability trade, but you can also tighten up your stop-loss to lower risk by trading against the recent swing low.
Now, if you’re STILL hungry for breakout stock picks, there were over 100 new 52-week highs on the NYSE Friday. So if you’ve got time to kill, that list should keep you busy for a little while longer.
And on that note… keep reading if you want to learn more about how to find these kind of breakout stock picks for yourself…
Learn to Scan For Breakout Stock Picks:
If you want to learn more about how I find these kind of stock picks, I encourage you tocheck out my Breakout Stock Blueprint. What’s that, you ask?
Well… you’re welcome to join the wait-list… which means you’ll be the first to know when I reveal my exact entry and exit system for picking breakout stocks.
If you want to see how to find high-potential-momentum stock picks, learn how to let your winners run and be confident about locking in profits, then this blueprint is for you.