Lazy Trade Long & Short: INGR & GLW
January 29, 2013 - 1:12pm
Swing Trading Setups Abound In Both Directions
I really like both of these trade setups. The first being in Ingredion (INGR), which has formed a near perfect channel off of the July lows, and has consistently been trading inside of ever since. Today and yesterday, it tested the lower channel, and all indications point to this stock holding that rising, lower channel support level. If the stock breaks below the trend-line you sell it with minimal impact to your portfolio. Easy as that.
The second one comes from Corning (GLW) which has formed a double-top and has confirmed the break of its neckline, followed by a bounce back into its resistance, which is where you want to stage your entry on this stock at.
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