WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

US Stocks: Early Shakeout Reverses Higher

Posted by Gennady Kupershteyn on May 5, 2014 10:23:00 PM
Subscribe: US Stock Trade Ideas

A scary opening shake out reversed quickly and climbed higher for the remainder of the day. Volume was low on the shakeout and never really picked up as the market rallied back. The good news, the market remains in a tight consolidation and ready to breakout.

As scary as the first few minutes of the day were, few leading growth stocks triggered tight stops on recent breakouts, keeping traders in long positions. Traders should continue adding long positions with every shakeout until at least some recent breakouts begin to fail or show signs of weakness...stalling at moving averages, low volume follow through, climactic action, etc.

Air Lease (AL) recovered the fifty day moving average in above average volume after a recent shakeout below, Carrizo Oil and Gas (CRZO) followed through to fifty two week highs, Intermune (ITMN) and Fleetcor Technologies(FLT) continued higher off the fifty and two hundred day moving averages, respectively.

Review the leading growth stocks analysis for trading ideas.


Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

Browse our frequently asked questions and find your answers right away.

Access to the educational lessons, webinars and platform walkthroughs.


Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!