Hey, Ross here:
And before the Fed announces its decision later today, let’s check out a trade idea you can take action on.
Chart of the Day
Brainstorm Cell Therapeutics (BCLI) is a biotechnology company that develops and commercializes autologous cellular therapies for the treatment of multiple neurodegenerative diseases.
The company has had its leg cut from under them from the highs made in October three years ago, all the way down to where we are now.
Shares were trading at roughly $18 and are now trading at roughly $3.
But the stock is showing signs of a possible new breakout to the upside.
The 10-day and 21-day moving averages are both above the 200-day moving average. The 50-day moving average is currently being angled upwards.
I would personally want to see a break above the $3.30’s area to look for any sort of entries.
P.S. Would you like special trade prospects and potential market moves sent directly to your phone? Text the word ross to 74121.
Insight of the Day
Potential breakouts won’t turn into profits by themselves
Right now, the market is like a coiled spring.
If the Fed pauses – or indicates a pause is coming after this – we’re likely going to see stocks fly.
There’s a very good chance of this happening.
Sure, the market dipped yesterday. But the chart for this month still shows a general pattern of progressively shallower pullbacks – the classic “impending breakout”.
Many individual stocks are also showing this exact same pattern – only with a lot more profit potential.
But you won’t be able to realize any of these potential profits without taking the right kind of action.
So here’s what I think you should do.
Editor, Stock Surge Daily