Swing Trading Top Growth Stocks – How To
Last week in the Weekly Alert we talked about how powerful multiple time-frame alignment can be when you have a very strong long-term uptrend, a bullish swing trading chart pattern and rapidly improving fundamentals.
Add a catalyst and a bullish intraday price pattern and you have both a great swing trading setup and day trading opportunity if it reaches the entry point.
After our top setup the week prior soared 20% higher, one of our 2 top setups last week made another terrific move using one of our favorite swing trading strategies.
SEDG was breaking the downtrend in the pennant portion of arguably the strongest technical pattern – a strong bull flag chart pattern with a 90% or more initial rise into the consolidation.
SEDG has just the kind of fundamental characteristics we look for – consistently strong and recently accelerating growth. Meanwhile, they had a strong track record of crushing estimates with rising future earnings expectations.
SEDG reached our entry point last Tuesday, had another big beat the next evening and quickly ran over 20% higher from our target entry point.
Meanwhile, ABMD continues to rally and reached our price target on Friday for a nice 20% profit in 2 weeks for those using our targets.
Lots of great action over the past couple weeks on top growth stocks. EPAM surged last week and hit our target sell price. MA, featured with EPAM, rallied and reached our profit target as well.
NVDA continued to run into earnings and had a real nice 12% rally from our entry point listed in the Daily Alert the Thursday prior.
Meanwhile, earnings eruptions trading strategy setups have been on fire. On Friday, we had a great setup on TTD after another nice one on AAXN earlier in the week. TTD had all the technical criteria we look for, a great pre-market pattern and one of the best earnings reports this quarter.
TTD reached the entry point and surged 11% higher from that point within a few hours. We held a large portion for a few days for a near 20% profit. The earnings eruptions setup, when all the criteria in the course are met, continues to be the top short-term trading setup in the market.
Meanwhile, LGIH did not meet all the criteria in the course and turned over after a big earnings beat. Its important to know all the rules in the earnings eruptions course before jumping in a trade after a big beat. It made a 30%+ move, though, after breaking out of an explosive bottoming pattern featured in the alerts in March.
On the downside, ALGN broke out of a symmetrical triangle chart pattern but then got hit after an unusual analyst downgrade ahead of earnings. Pretty strange given the earnings ended up being stellar again with a good guidance raise. However, the price moved below the stop-loss point before earnings after the downgrade. We sold right after the downgrade and gap lower for about a 4% loss using one of the sell rules listed on the site.
Still a lot of good swing trading action right now in the market. LGND was featured last Thursday before a 12% move higher in a few days among others. We have others surging and nearing good entry points right now on the subscription site.