Hey, Ross here:
If yesterday’s market movements have got you jittery, today’s trade idea should comfort you that opportunities still abound.
Chart of the Day
Agilysys (AGYS) is a hospitality software company that checks all the boxes.
Steady earnings and sales growth, high relative strength, a small float, strong fundamental ratings, and a clean chart.
The stock has been forming a base since mid-December when it climbed 35% on news of its software deal with Marriott.
Pullbacks have tightened and the stock has short-term resistance near the $85 mark.
A push through this level could ignite the next leg higher for AGYS.
P.S. If you want special trade prospects and potential market moves sent directly to your phone from me – just text the word ross to 74121.
Insight of the Day
You can – and often should – be excited and cautious at the same time.
The rally that kicked off the start of the year got a lot of traders excited – maybe even too excited. And now, with the market pulling back, many of these same traders are now falling straight to doom-and-gloom.
That’s just how markets are. Rallies always get people too excited, causing them to get overextended. And pullbacks always get people too fearful, causing them to miss the upswing.
That’s why being able to be excited and cautious at the same time is so important. Excitement gives you the emotional momentum to go after opportunities. But caution prevents you from overextending yourself.
I’m still seeing lots of opportunities in this market to be excited about. But I’m being cautious about how I play them.For instance, many stocks are still showing signs of huge institutional buying activity – putting them in a prime position for fast breakout gains. If you want to see how to spot these big buying signs and jump in before they do – be sure to check this out.
Embrace the surge,
Ross Givens
