{"id":6646,"date":"2020-05-13T11:39:41","date_gmt":"2020-05-13T15:39:41","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=6646"},"modified":"2022-04-06T15:04:56","modified_gmt":"2022-04-06T19:04:56","slug":"ever-amd-breakouts","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/ever-amd-breakouts\/","title":{"rendered":"2 Hot Stocks Poised For Potential Breakout Now"},"content":{"rendered":"\n
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Most stocks on our watchlist have already broken out and are extended beyond the initial buy point, but there are still a few strong chart patterns out there. Here are two hot swing trade setups on our radar now.<\/h1>\n\n\n\n

After six straight days of gains, the NASDAQ pulled back sharply with a late-day sell-off yesterday (May 12).<\/p>\n\n\n\n

Given the momentum of the sell-off, stocks may<\/em> now be heading into correction mode. <\/p>\n\n\n\n

However, IF stocks do not follow-through lower in the near-term, don’t miss these two hot potential breakout trades for potential buy entry in the coming days.<\/p>\n\n\n\n

$EVER – EverQuote<\/h2>\n\n\n\n

On May 5, online insurance marketplace EverQuote ($EVER) reacted to a positive earnings report with a massive, one-day gain of +21%.<\/p>\n\n\n\n

Volume swelled to more than three times (300%) its average daily level, as mutual funds, hedge funds, and other institutions accumulated shares of $EVER.<\/p>\n\n\n\n

EverQuote has been chopping around in a tight range since then, allowing the rising 10-day moving average to catch up and provide support below.<\/p>\n\n\n\n

Daily trading volume has dried up over the past week, which is a bullish sign during post-breakout price consolidations: <\/p>\n\n\n

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As with similar breakout trades, look for buying interest to come into the stock if\/when it rallies above the short-term downtrend line.<\/p>\n\n\n\n

$AMD – Advanced Micro Devices<\/h2>\n\n\n\n

Semiconductor company Advanced Micro Devices ($AMD) led the stock market higher in early April, but sold off after a negative earnings reaction.<\/p>\n\n\n\n

Despite initial post-earnings weakness, $AMD found support and reversed just shy of its 50-day moving average. <\/p>\n\n\n\n

On May 11, $AMD followed a week of tight-ranged price action by pushing back above both its 10 and 20-day moving averages as well. Increasing volume that day hinted at institutional accumulation and helped confirm the bullish move:<\/p>\n\n\n\n

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Note that we are already long $AMD<\/em> in our Wagner Daily<\/a><\/strong><\/em> model portfolio, with buy entries alerted to subscribers at $53 and $54.80. <\/p>\n\n\n\n

Nevertheless, we are currently planning to add to the winning position on a move above resistance of the short-term downtrend line (annotated on chart) OR<\/em> above the high of the “handle” of this cup with handle<\/a> pattern. <\/p>\n\n\n\n

As always, don’t jump the gun! Be sure to wait for a proper buy trigger before buying either of these swing trade setups<\/a>.<\/p>\n\n\n\n

Most importantly, remember to trade what you see, not what you think!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Most stocks on our watchlist have already broken out and are extended beyond the initial buy point, but there are still a few strong chart patterns out there. Here are two hot swing trade setups on our radar now. After six straight days of gains, the NASDAQ pulled back sharply with a late-day sell-off yesterday […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[3],"tags":[],"class_list":["post-6646","post","type-post","status-publish","format-standard","hentry","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/6646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=6646"}],"version-history":[{"count":10,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/6646\/revisions"}],"predecessor-version":[{"id":11162,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/6646\/revisions\/11162"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=6646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=6646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=6646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}