Hey, Ross here:
And let’s begin the day with a trade idea that’s already profitable with strong legs remaining.
Chart of the Day
Aaron’s Holding Company (AAN) saw a tightening in a wedge formation after making a higher low and holding above our long term 200-day moving average.
This is a sign of sellers and buyers being exhausted because price is refusing to sell off lower and price is range-bound otherwise known as equilibrium.
The wedge was also occurring above the 200-day moving average and the other moving averages are being held and respected. This told me that there was further upside to go.
AAN broke out strongly from this wedge formation yesterday and now stands at close to $14.00.
If it can maintain its momentum, the next stop is its previous high in February and then higher prices from there.
P.S. I highlighted this opportunity to my Stealth Trade subscribers last Friday – meaning they could already be sitting on a gain of nearly 10% in just a couple days.
If you want in on these trade opportunities before anyone else, you can still get it for just 99 cents by clicking here. But this offer ends this week.
Insight of the Day
When the market “overcorrects”, opportunities are created.
Despite all the pullbacks and plateaus, the market has been performing quite well this year.
Yet, for some reason, sentiment among most of the “big name analysts” has been very bearish.
The media is also complicit in pushing bearish sentiment, as fear always drives the clicks.
But now that the market is rallying, with the S&P 500 less than half a percent away from the 4,300 level…
We’re seeing a dramatic shift in sentiment, with the previous bears now being forced to “overcorrect”.
These overcorrections are creating a lot of fast-moving opportunities in the market (I just showed you one above)…
Get in while you still can.
Embrace the surge,
Editor, Stock Surge Daily