Bought STMicroelectronics, as it meets Strategy 2 criteria.
The stock surges after earnings, pulls back, and then resumes its upward trend.
Positives
- MACD is stronger than yesterday
- Price is above the 10, 20, 50, and 200 moving averages
- Volume increased
- The stock resumes momentum after a pullback.
Negatives
- Did not close at intraday high
- RSI is in the overbought zone.
- Major indices are showing weakness
Trade Plan
- Stop loss: Intraday low
- Target: $55.1
