3 New Stock Picks for November: ARRY, GURE and GTXI

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Two biopharmaceutical stocks and a chemical one were the stocks I bought before the closing bell yesterday. ARRY, GURE and GTXI may not be my best stock picks from a technical perspective, but I liked the reward/risk ratio of those trades. In addition I don’t usually trade stocks that are dangerously approaching the penny stock status, yet I couldn’t resist buying GURE stock on confirmation of the support level at $1.30!

3 New Stock Picks for November: ARRY, GURE and GTXI

3 New Stock Picks for November: ARRY, GURE and GTXI

That is almost the same reason for buying GTXI stock as well. The bullish candlestick pattern found in both daily stock charts seems to be confirming the previous-resistance-now-support level.

gtxi-stock-pick-chart

I consider ARRY stock the most risky pick of the three. Although Monday’s bullish candlestick seems stronger, the double top where I have set my profit target could be regarded as a trend reversal signal. That is why I will trade out as soon as a new daily low is printed in the daily chart, in order to avoid getting trapped into a consolidation or worse in a downtrend.

arry-stock-pick-chart

All 3 stock picks have ideally a 3-to-1 reward/risk ratio, meaning I stand to lose one dollar to win 3. The stock picks are added to my previous stock picks including FCX, CLWR and XHB, which at this time are showing a tiny profit.

stock-picks-profit-and-loss

My stock trading is mostly based on a simple swing trading strategy, similar to my day trading strategy, although there are times when other strategies perform far better, like the 30% daily gain of PSSI stock. My risk is 2% of my trading capital no matter the strategy and I’m mostly aiming to at least 4% capital return.

Disclaimer: I’m long ARRY, GURE and GTXI.

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
About: Jim Makos - www.tradinggraphs.com

Jim Makos has been a professional gambler since 2003 when he first played Blackjack at the local casino. During the following years he developed online betting systems and became an expert in sports trading at the betting exchanges, mainly by scalping the betting odds at horse racing markets. He has also been a casual online poker player and shares his experience in his personal gambling blog. Forex and stock trading fascinates him and he is testing trading strategies based on technical analysis applied to financial charts.

  View all of Jim Makos - www.tradinggraphs.com's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.


include_once( __DIR__ . "/request_context.php");