-This sector (food and beverage) as a whole looks coiled and ready to go
-The weekly chart on is also looking strong in an upward trend and it is pulled back to the moving average.
-The price is beginning to move higher out of a squeeze which can make for some explosive moves higher
We believe in trading with the overall trend and the sector strength at our backs. This stock is a perfect example of a high probability setup that we are looking for! Lets see what happens this week!
Remember that anything can happen no matter how good the setup looks to your system. We will continue to trade what we see and as of right now, our system is telling us higher!
Best of luck!
We will update tomorrow!
Will update after the market closes on this trade of the week!
Best Of Luck!
SQ - This has really already fired after today and i like it to continue higher and possibly to new highs. If you look at the daily chart and use a 21 day EMA (which is what I use) it makes one of my favorite moves in which the price moves below the EMA, then above the EMA, then comes back to test the EMA and bounces off of it.
CB - Is another good setup as a squeeze looks to be firing to the upside right now. It's also in one of my favorite sectors right now with insurance!
MMC - Is in that same sector as CB (Insurance). I really like this setup as well. It is in a squeeze currently and could fire out of it if it moves higher tomorrow.
I like to trade setups similar to these 3 and also look at trend strengths on multiple timeframes as well as sector strengths. I'm not in any of these right now but they look pretty promising!
i hope this helps!