As many of you know, I am a big fan of stock breakouts and catching the momentum of the move/trend higher.
Each week I review several setups and highlight and share stocks I like.
Today is no different – we will look at two stocks with trading setups that offer good risk/reward: Zayo Group Holdings stock (ZAYO) and Intel stock (INTC).
Let me know if you have any questions.
Weekly Stock Chart – ZAYO – Breakout Setup
- Range expansion breakout to new all-time highs out of a well developed multi-month range.
- Currently up 8% on the week, short-term overextended, but structurally this looks like a great momentum candidate into year end.
Weekly Stock Chart INTC – Pullback Setup
- Intel stock is not quite ready for an actionable entry just yet, but one that is worth keeping on your watch-list.
- INTC saw a year-long base breakout back in October which sent it soaring higher by nearly 30% in only 6 weeks time.
- Over the past 6 weeks, Intel’s stock price has been pulling back in a healthy fashion and working off those overbought conditions and consolidating gains.
- Keep an eye on $45 as a possible trigger long entry for a resolve and breakout from this bull flag setup.
I selected these 2 trade setups from a Trade Ideas video I released yesterday (click here to watch the video and get more ideas).
Twitter: @EvanMedeiros
The author may hold a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
