Today, I’m going to share a recent trade idea from my friend and colleague Anthony Speciale.
Anthony is one of the best traders I’ve ever met…
And he’s recently developed an incredible system that allows him to determine the ideal entry, stop and target points for any asset.
He call it his Apex Profit Window…
Anthony’s Apex System
The following is an excerpt from Anthony’s Energy Investor Daily newsletter, in which he details one of his latest trade ideas using his Apex system…
Marvell Technology, Inc. (MRVL) is a leading chipmaker that designs and develops integrated circuits, ethernet solutions, processors, storage products and much more.
The stock was showing some strength early last week, but Friday’s session saw the shares drop 9%.
That could be setting up a further breakdown in the stock, so let’s check out the chart…
The technology sector offers no safety from the broad market selling.
Marvell’s weak relative strength isn’t helping its cause at this time either.
The stock is back to its July lows and could potentially form a “double bottom” pattern.
However, if support fails, it should produce a lucrative short play…
As the chart above suggests, the ideal entry would be triggered by a 1%+ weekly settlement below $41.75.
The ideal stop would be placed at $51.00, and a conservative ideal target would be placed at $25.00, which is gradually descending.
Ross here again…
While this isn’t a recommendation for readers of Stock Surge Daily or Energy Investor Daily to buy MRVL or any other security, I thought it was important for you to see how Anthony uses his Apex system.
The key to Anthony’s strategy is the weekly settlement 1%+ above or below support or resistance (depending on whether it’s a long trade or a short trade).
In this example, Anthony was looking for a short idea if the stock settled 1% or more below $41.75.
Well, with last week’s big drop in MRVL, the potential double bottom Anthony mentioned above has definitely failed to support the price.
The stock closed well below $41.75 last Friday. And according to Anthony’s system, that means it should begin to move towards the ideal target at $25 in the coming weeks…
Don’t Miss the Apex Fortunes Summit
Now, if you’re ready to see this strategy in action and want to learn how to use this in your own trading, you need to check out Anthony’s “Apex Fortunes Summit” today at NOON!
2022 has proven itself to be a bloodbath… That’s swallowed up nearly $7 trillion in investors’ wealth…
But Anthony has personally shown 101 mom and pop traders how to grow their accounts by 382% in as little as four months!
If you want to be an apex trader and are ready to conquer this volatile market, you definitely need to check out his strategy.
Embrace the surge,
Editor, Stock Surge Daily