Stock Swing Trade Ideas, Recent and Upcoming
Stock Swing Trades to keep an eye on, based on strong trending movement and the price finding support after a pullback. Stocks mentioned: OLED, WTW, CENX, MMSI, RNG, LL, TNET, SAP.TO, MTY.TO and BYD.UN.TO.
These swing trade ideas are based on the concepts discussed in my Stock Market Swing Trading Video Course. The Video Course now includes 17 videos and more than 11 hours of instruction showing precise entry and exit techniques, how to find trades and stock market basics.
Stock Swing Trade Ideas
Swing trade ideas are initially posted on my TradingView page. There I try to regularly publish swing trade ideas with brief comments along with entry, stop loss and target levels. Most of the stocks mentioned below were published on my TradingView feed within the past couple weeks (price may no longer be near the entry point, but you can still use the examples for educational purposes).
All the stocks below were found using the screening techniques discussed in the Video Course.
In all cases, the trailing stop loss technique can be used instead of, or in conjunction with, the target. This method is also discussed in the Video Course.
There are a lot of companies reporting earnings around this time, so keep a close eye on that in regards to swing trades. I always prefer to close swing trades the day before earnings, or wait to initiate positions until after earnings if there is still a valid setup.
To see how the price action has unfolded since the chart was published, click the “play” button on the right side of the chart. Click “Full Screen” for a larger view, and then hit your “esc” key to get rid of the full screen chart.
Universal Display (OLED): The price has already moved up from the entry, and earnings are on Nov. 2.
Weight Watchers International (WTW): The price has already moved up from the entry, and earnings are on Nov. 2.
I have also been trying to publish more Canadian stock swing trades for the Canadian readers.
Saputo (SAP.TO): Price has moved up from the entry point. I liked this one because we had a rather large pullback in the long-term uptrend, but since July the price has started to push higher again. Bought one of the consolidation breakouts once the price started that upward push.
Boyd Group (BYD.UN.TO): Price has moved up from the entry point. This trade is slightly different in that I waited for a breakout from a triangle pattern. In this case, I didn’t mind doing that because the long-term trend is up, and the triangle was getting quite narrow, so even buying on the breakout resulted in a respectable reward-to-risk with the target up near the former high.
MTY Food (MTY.TO): This has not hit the entry price yet. I like the rounded bottom which has formed following a pullback through most of 2017. Note that this is a 3-day chart (each bar represents 3 days).
Back to US stocks. Century Aluminum (CENX), Merit Medical Systems (MMSI), RingCentral (RNG), Trinet Group (TNET) and Lumber Liquidators (LL) also have trade setups that could trigger soon. BUT, they also have earnings in the next few days. Wait until after earnings to see if there is still a valid trade. If there is, I will posting it on my TradingView feed.
Losing trades WILL happen. Don’t risk more than 1% to 2% of your trading account on a trade (risk = difference between entry price and stop loss price, multiplied by the number of shares). There is always a risk in trading, and you can lose much more than you expect (even when you think you are only risking 1%). Don’t risk real capital unless you know what you are doing, have proven yourself profitable in a demo account, and can financially handle the ups and downs that come with swing trading.
By Cory Mitchell, CMT
Disclosure: This article should not be viewed as investment advice, and is not a recommendation for you to buy or sell. These are trade examples of a specific strategy. Past performance is not necessarily indicative of future performance. Assume that I positions, or may initiate positions, in the stocks mentioned.