Swings: ARD - Arena Resources - Symmetrical Triangle; SWN - Southwestern Energy - Symmetrical Triangle; BIDU - Baidu - Bullish Wedge
Took swing positions in each of the following yesterday:
I like ARD the best out of these as it has the best risk:reward ratio and the best looking volume on the break out.
Here's SWN which needs to confirm the break out with volume. Volume was much better on the 2nd break through the $48 area yesterday afternoon, but hopefully with this mornings gap up and a break through $50, volume will pick up.
Here's BIDU, which I took a small position in (for now), as it bounced off of the $303 area. The pattern still hasn't validated, but I think it will and when it does, I'll add to the position. I'm looking for BIDU to close over the $320-321 area over the next day or 2, or I will be closing the position.
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