My first swing trading idea.
[[BRCM]].
Even though it managed to close strongly on Monday, it looks like it is losing momentum. It has also formed a rising wedge on 15-min. chart.
There are 2 possibilities how to manage this trade:
- Look at the action Tuesday morning, if the broader market is weak, just short the stock at the open with the stop above 18$ and target at 15.00-15.50. Risk/Reward ~1/4
- Short below 17.00-16.80. Stop above 18$. Target 15.00-15.50. Risk/Reward ~1/1.5
Profitable Trading!
