Finding a great chart is often better than making love. While both give you pleasure, a great chart setup will pay you hundreds, if not thousands. On the other hand, making love means we often end up paying dearly for the hot passion desired, either monetarily, nagging or other means. At least after a great swing trade you can roll over and go to sleep instead of cuddling. Having said that, let’s find some charts that we want to make love to.
The first stock chart that looks about as amazing as a supermodel is Lowe’s Companies, Inc. (NYSE:LOW). This ugly duckling has finally flowered into a beautiful setup for a swing trade to the long side. The stock hit the 200 moving average at the $24.00 level this fine day and is ready to jump high into next week. The bounce should take it to $24.50 – $25.00 in the coming week.
The next chart that looks like a gem and was a former ugly duckling as well is Research In Motion Limited (NASDAQ:RIMM). When looking at this chart, I must admit it excites me. The massive double buttom was tagged almost two weeks ago at $42.50. From this point, it jumped higher and has since slowly floated back down, never going below $42.50. As long as RIMM stays above the $42.50 level on a closing daily basis, this long is intact and ready to deliver an orgasm of power and money to those that take it.
A former powerhouse, Goldman Sachs Group, Inc. (NYSE:GS) has been spit on for months if not years. The stock price has crumbled in 2011 from a high of $175 to its current level of $136.00. Just in the past few days, Goldman Sachs has made a bottom that represents a great long swing trading opportunity. Love shall be made for days on this one. Look for a solid bounce into next week from this level back to the low $140.00 level.
These are just three plays looking great on the charts. As with making love, always use protection on your stock swing trades. Enjoy and profit.
Gareth Soloway
InTheMoneyStocks.com
