Swing Trade Stock of the Week: SGYP

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

Come check out our FREE TRIAL for our Part Time Traders service.  This service is great for those that work and cant monitor the computer all day. We have indepth nightly reports on the gameplan for the day/week and all stock picks that I trade will be alerted and emailed to you.

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

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

Share:

Facebook
Twitter
Pinterest
LinkedIn

Stop Guessing.
Start Trading.

Secured Checkout Providers

Don’t Miss Out

Pre-Market Live-stream

Tuesday’s and Thursday’s at
9:00 AM EST.

Connect With Us…