With SWKS running from 40 to 47 in less than a month, it is finally taking a breather. Price is currently consolidating just under the 47 mark. If SWKS can close above $47, it will trigger a buy signal for the next run up to $50.
In the morning I was talking about IBM short idea. Price confirmed idea. This is trade management review because entries and exits matters. Comments on the chart. Check my idea in the link below
After 2-months range was resolved to downside, Gold was sold off aggressively from $1,300 to $1,240 where it found support. With wide, ignited, green candle 3-days consolidations resistance at $1,248 was broken and now gold is showing some commitment and building nice upper-level base in front of local resistance at $1,257.5. Break above could attract more dip...
The Biotech ETF has been hovering around 8 and 21 day EMA to build a tight range. Mixed action but still above 200 EMA at $222.30 which acts like support. Powerfull breakout above $233.80 could attract more buyers. But I will be watching both sides.
With markets down around 1% this biotech company showing us relative strength. It is trading on highs above all key moving averages in very tight consolidation above previous swing high @ $85.50. Entry here and expect break up of $88.50. If market will show us some strength, this stock could be a good candidate for long.