Courtesy of David Grandey.
In uptrending markets, it’s all about the Pullback Off Highs pattern — in other words, sitting back and letting stocks come to you and buying them at low risk alternative entry points.
That’s exactly what we did with ATHN on Friday. After ATHN cleared resistance at the blue line and got back above its 50-day average, we added this stock to our watch list.
We then patiently waited for ATHN to pullback to support at those levels. Friday, ATHN blasted above the pink Pullback Off Highs line triggering a long side trade at $59.53. By the close ATHN was already over $61!
Now take a look at APA. It looks a lot like ATHN did before it took off to the upside:
Success in today’s market comes from the following game plan:
- Buy leading stocks at alternative, low-risk entry points
- Sell stocks that are retesting recent highs
- Always sell into strength
- Enjoy your profits and wait for stocks to come back to you
To learn more, sign up for David’s free newsletter and receive the free report from All About Trends – “How To Outperform 90% Of Wall Street With Just $500 A Week.” Tell David PSW sent you. – Ilene
