Hi folks,
Last week I shared a blog post highlighting the performance of Art of Tradings "Top Pick Of The Week" names for this year, 2022. You can find that blog post at this link here: https://www.artoftrading.net/post/a-simple-strategy-if-you-work-full-time
Sunday evening or early Monday morning I privately share a watchlist to Art of Trading members which highlights my top ideas for the week!
This week my "Top Pick Of The Week" was $AMR. Here is the chart and note I emailed out this morning (2022-05-23) at 7:45 AM EST along with a few other ideas.
$AMR (long setup): Setting up for a breakout from bullish flag pattern on the 20 Day MA. Also held up very well as the markets were weak for a few months. A Relative Strength leader.
Targets $180
$AMR opened with a slight gap up this morning offering a quick pullback to get long against with a stop at or below $146 - $150 depending on risk tolerance and sizing.
As of 2:45 PM EST $AMR is trading near session highs with a 12%+ gain on the day!
So what made $AMR a "Top Pick of The Week". Well from a strength perspective its been a leading stock in this volatile and weak market since the start of the year but secondly it held very strong technical characteristics!
It set up a nice bullish flag / bullish pennant setup. What's a bullish flag look like you ask? take a look at this here! :
How could you trade a pattern like this?
Watch the video below!
You can find roughly 60 minutes of video content just like this in my eBook! Found here
Last week we looked at the performance of these "Top Picks" here: https://www.artoftrading.net/post/a-simple-strategy-if-you-work-full-time and now we have another good example of how relative strength, leading stocks setting up to breakout can do just that in a short period of time!
Cheers and Happy Trading!
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