If you’re a swing trader using HOLLY to identify potential swing trades, then you may have had a chance to enter $RETA back in early April around $21. If you did, you’re probably still holding as you haven’t taken any real serious heat and you’re currently sitting on a gain in the neighborhood of 65%. Bravo, good trader.
For the rest of us, there is still a chance.
HOLLY continues to identify new catalysts for further advances in prices, most recently getting involved end of last week.
SWING TRADERS: since early April, @TradeIdeas HOLLY has had a clear edge in $RETA (look at those buys). With the stock now threatening new all-time highs, it’s time to add to the HOLLY Hot List. Will be adding at tomorrow’s opening print. https://t.co/Nnr5hSoELB pic.twitter.com/AtkU9peNMb
— Sean McLaughlin 📈 (@chicagosean) May 30, 2018
But what I like most is the stock is currently holding over the $34 price level where it has been rebuffed three times in the past, going back to it’s 2016 IPO. There were two extremely brief spikes up to the $41 level that cannot be ignored and may offer the next major resistance level. In a perfect world, I’d like to see the stock continue on a nice steady uptrend to those prices before attempting to break even higher.
With a market cap just shy of $700million and average daily volume only around 225k, it might not take much to really pop this stock. That’s what I’m playing for.
As with all HOLLY Hot List names, we’ll trail this stock with a 20% stop loss. But if you’d like to be more aggressive with your stops (understandable in this situation) you might consider playing a stop loss in the $30.50 area. We’ll be adding this stock to our list at the opening print of trading tomorrow (Thursday May 31, 2018)
HOLLY Hot List update
Wow, just wow. Today we saw eight names on our list print new highs for us. If that’s not bullish, I don’t know what is? And check out my personal favorites $USAT and $HFC!! Even our biggest recent laggards had nice bounces today: $PSTG $NTNX and $KEY.
If you’d like to learn how HOLLY, the Artificially Intelligent Virtual Analyst, can improve your trading and investing results, please visit Trade Ideas.
Good luck out there!
~ Sean McLaughlin (@chicagosean)