The best swing trading strategy in stocks is coming from the financial sector right now. Several banking stocks look like good swing long setups after JPMorgan and Citi crush estimates.
Banking Stocks and the Best Swing Trading Strategy
In a stock screen of recent pullbacks in the strongest stocks in the market that are still near their 20 day high, banking stocks were the common theme.
Specifically, this best swing trading strategy screen is scanning for:
Price: Above 20, Average Volume: 50 SMA > 20K, Near 20 day High which limits the maximum distance to the 20 day high to 5%, Price Below SMA 10, Price Above SMA 20.
Citigroup presents a good setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 67.45. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 65.75, a stop order could be placed below this zone. Notice how well pocket pivot signals (blue dots) have given good entry points for swing long trades.
CNA Financial Corp
CNA is showing a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 49.03. Right above this resistance zone may be a good entry point.
BANF presents a decent Symmetrical Triangle setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a very little resistance above the current price. There is a support zone below the current price at 98.69, a stop order could be placed below this zone.
You can find out more about how to use the best swing trading strategy screener here.
Latest posts by Lance Jepsen
- PowerShares Global Clean Energy ETF Exploding Large Players Volume - November 17, 2017
- Top News Stories November 16 2017 - November 16, 2017
- BeiGene Stock Exploding Large Players Volume On Candle Over Candle - November 16, 2017