2 Actionable Setups Breaking Out Today - 1 Added to SwingTrader On Monday

These two actionable setups populated the MarketSmith “breaking out today” scan maintaining relative strength while the markets gave back all its gains by the end of the day. In addition, number one ranked Pure Storage (PSTG) was added to SwingTrader earlier on Monday.

Summary

Pure Storage is ranked No.1 in its group by Investors Business Daily
The stock was added to SwingTrader’s Actionable Setups
Pattern breakout – cup with handle
Volume 2x

Actionable Setups – PSTG ON AMD

Pure Storage (PSTG) was added to SwingTrader earlier on Monday, as the stock attempts a break from this 8 month consolidation, and cup with handle pattern.

Pure Storage (PSTG) to continue with an initial buy point on a break above the 11/01 pivot high. Investors Business Daily uses 0.10c above the pivot or 32.07 as its trigger for a long.

On Semiconductors (ON) is also attempting is own break out of consolidation at a buy point of 76.88.

Advanced Micro Devices (AMD) caught an upgrade after UBS and Baird analysts Timothy Arcuri and Tristan Gerra upgraded the stock. Both analysts raised their price targets for the AMD stock to $95 and $100 respectively based on the company’s new data center chip Genoa.

Advanced Micro Devices shares cleared the 50-day moving average last week as we discussed during the LIVE broadcast. The stock is trading 2.43% this morning to $75.32 after closing up over 1.6% on Monday.

Join us today in the trading room for our LIVE broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading,

Vinny

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