midweek_watch_8-25-21

TrueTraderOfficial

MY 1st LEVEL: 112.50 WHY: Annual pivot and prior low. It closed close to highs days in a row and you see what it did. MY 2nd LEVEL: 114.16 WHY: 20d. Which is a 50-60% retrace from today's move. This level may be a starting point for me.

TrueTraderOfficial

MY LEVEL: 29.00 WHY: 20d and previous day low. I'm looking for a clear away (breakout) above 30.70.

TrueTraderOfficial

MY LEVEL: 122.20 WHY: Just below the 50d and previous day low.

TrueTraderOfficial

MY LEVEL: 35.80 WHY: Right off Quarterly Pivot and support area. Same as $JWN if it holds 8/25's lows I might trade off that level.

TrueTraderOfficial

MY LEVEL: 30.00 WHY: Numbers (guidance, top and bottom line, coverage, etc) look good. This feels similar to #STX earlier this week. Should find support off the whole number. If not 30.84.

TrueTraderOfficial

MY LEVEL: 73.50 WHY: Holding support area for 3 days in a row.

TrueTraderOfficial

MY LEVEL: 27.00 - 27.20 WHY: It's hugging the 20d. I don't like that it closed on lows. I take notice that. When it closes on lows I look for weakness the next day. I'm going to watch the action to see if it holds the 27.20 area. If I'm risking a dime or a quarter on a name like US Steel it could be a really great risk reward type play. $1.40 ATR so decent range.

TrueTraderOfficial

Off the previous low (27.87) and Annual Pivot. I wanted to see it make a higher low and need to see if it will clear the previous highs.