Hi All,
Just did my analysis of what I am going to potentially trade tomorrow and it is slim pickings indeed. Not too much is standing out to tell you the truth.
If you are looking to going long I like the price, volume and charts on these stocks which are all within ASX 200/300 - NEA and CWP. Will have to see which way the markets are heading before even contemplating these positions. There are couple of potential longs as well but I need to see how they form over the course of the trading day, they are BKW, BIN, QBE, FMG. I am unlikely to trade this unless my other two dont work out.
On the downside again the pickings are quite slim. I saw quite a number of stocks take a decent hit to their trend line but are still within the uptrend, so they are too risky to contemplate until they form a more reliable pattern, but they are worth watching because the potential is there on the downside if they follow. I have always found downside patterns more profitable as they tend to skid down harder and faster, they are also a lot harder to find in my opinion. Anyway on the downside I like RMD and possibly JIN, although I am more inclined to trade long tomorrow depending on the market direction of course.
Have a great days trading.
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- Day Trader’s Aftermarket Lounge 28 May 2020
Day Trader’s Aftermarket Lounge 28 May 2020, page-94
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