Hello Traders from around the planet. I hope you’re doing wondrous! I will keep this one short and sweet.
Sometimes, when I am researching stocks, I simply go to stocktwits.com and look at the trending tickers at the very top. I scroll through them and often times, get great trade ideas from the tickers. Here’s one today.
Who you ask? Hortonworks Inc: HDP had over 7 million shares traded today, about 7x its average, forming a one white soldier on the daily chart at a great support.
The 100 SMA is at $9.87 and will be a nice target, but HDP has broken through that level before in the past and traded a smidgen higher. Therefore, looking for the same thing to happen here.
Below is my exact trading plan on HDP. I want HDP to form an inside day candle tomorrow. If HDP is still within my ‘zone’ or pennant tomorrow, I’ll look to get in bullish with a stop at $8.07. Target 1, $9.87 and target 2 is $12.00
Let’s see what happens folks. In trading, it’s crucial to create the plan in advance and then follow it! Be disciplined and ‘be paytient’.
You rock!
Jerremy Alexander Newsome ~ CEO and guy with a potential future mohawk of Real Life Trading
