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Bulls on Wall Street: Stop Guessing. Start Trading.

My swing trade stock of the week is SGYP. The Drug stock went parabolic in a matter of days. While the first thing we tend to look at is price action, more interesting here is the volume pattern. Volume is what propels stocks, and SGYP has that catalyst. Previous to the Wednesday breakout, SGYP traded anywhere from 500,000 to 2 million shares. On the breakout it traded 60 million shares, and 40 million the following day. This was enough to move the stock over 100 percent in only two days.

While the stock is extremely overbought, that does not mean it can not go higher. The all-time high is $11,which is good for a 33 percent gain from current price action. I will watch for an entry point that allows for solid risk management.

Conversely, expect this stock to pullback hard at some point. I will watch for the "short squeeze" potential to dry up along with negative price action. This will give us a good short opportunity.

SGYP 6-21-15

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http://bullsonwallstreet.com/swing-trading/

Follow me, Paul Singh AKA "TheMarketSpeculator" on twitter or email me at SinghJD1@aol.com

About Paul Singh

Paul runs the popular Bulls Part Time Trader service. An experienced swing trader, he’s taught many subscribers how to make money trading while still holding a full time job.

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