There's no doubt that Target (TGT) has been one of the hottest stocks of the year capping off the year with a move to a record high of $125.32, gaining over +12% on the day. Target has gained +67% on the year. The question is, have you been in on this historic run? As a MarketClub member, did you use the monthly Trade Triangles to enter the Target trade?
Today I'm going to use Target (TGT) as an example of how you can use the monthly Trade Triangles to capture long-term profits while making minimum trades and letting your money do the work for you.
There were a total of seven trades dating back to 2/23/2012, 5 winning trades and two losing trades resulting in a profit of +$74.43 a share.
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First, let's review the rules for trading the Monthly Trade Triangles.
Today, I'm going to be analyzing Dollar Tree, Inc.(NASDAQ:DLTR). Dollar Tree has had enjoyed a spectacular rise over the last 5 years. After trading below $7 in January of 2008, this stock stayed in a pretty convincing uptrend and made an all-time high of $60.19 on October 21, 2013.
This in-depth analysis of Dollar Tree is not to say the stock can’t go higher, perhaps later in the year, but rather noting certain technical elements that are falling in place that do not look good for this stock. You only have to look back at stocks like Netflix and Apple to see how they can have spectacular falls from all-time highs and still come back.
Not shown on today's chart are 2 negative engulfing lines that occurred in the past 9 weeks on the weekly chart. That is another bad technical sign for this market.
Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Monday, the 6th of January.
2 Stocks To Watch
Eli Lilly and Company (NYSE:LLY), developer, manufacturer and seller of pharmaceutical products worldwide, had a new monthly Trade Triangle today at $51.62 and in doing so also broke above an 8-month long-term downtrend line. This stock is clearly in an uptrend and I would want to treat it and approach it from the long side.
My upside target for this stock is $57-$58. As always, I will be using the weekly Trade Triangle for any subsequent exits and entries.
Once the Apple of its day, Hewlett-Packard (NYSE:HPQ) made some unfortunate decisions that then tanked the stock. After reaching a high of $54.75 on April 16, 2010, the stock of Hewlett-Packard hit a low of $11.35 some 32 months later.