America Tests Positive for a Bad Time
by Editor
On Oct 2, 2020
On Tuesday we looked at a possible buy signal on AMZN.
Today, we’re going to look at another stock which is pulling back to its Keltner Channel midline: Trillium Therapeutics, Inc. (TRIL). The company develops therapies for the treatment of cancer.
TRIL had already been moving higher when it broke out accompanied by a huge spike in volume.
It quickly became overbought as it shot outside its upper Keltner Channel.
Let’s see what the daily chart of TRIL looks like now:
TRIL pulled back as profit taking came in, and the stock now appears to be headed back to the midline of its Keltner Channel.
The midline is a prime spot to watch for a buy signal, and the minimum first level to watch, if the upside continues, would be the previous highs.
Trade Smart,
Michael Saul
Analyst, Chart of the Day
Written By Chuck Hughes
Before Chuck Hughes won 10 Trading Championships, he was an accomplished Air Force pilot. In fact, he credits his success as a stock and options trader to his disciplined upbringing and career. When he was deciding between a career in the Navy and a career in the Air Force, the Navy told him he’d only have a 33% chance of flying jets. The Air Force gave him 100%. He liked those odds better. 35 years ago, Chuck had a wife, a young daughter, a son on the way, and a huge mortgage to afford. He didn’t want to give up on his lifelong dream and stop flying for a major commercial airline. He knew he needed to supplement his income during the 15 days a month he wasn’t flying. So he used his experience in discipline and math, and his understanding of finance and the stock markets (which he’d always been interested in,) and opened a $4,600 trading account. He made over $460,000 in profits his first two years of trading, and he hasn’t looked back since. When he was diagnosed with Meniere’s disease 15 years later, which commonly leads to vertigo…He knew his career as a pilot wouldn’t last much longer with those odds. But he didn’t have to scurry to find another gig, or panic about how his family would eat… He’d spent the last 15 years perfecting his system and raking in cash. As an options trader, Chuck does not let his emotions get in the way of his trading strategy. He adheres to disciplined and methodical options and stock trades. Because he respects the options game so highly, and understands the true freedom that financial solvency can bring, Chuck was able to design and refine his system and win those 10 Trading Championships. Put simply, Chuck Hughes’ trading strategies work, and in all types of market conditions. They’ve worked throughout the bull, bear, and flat markets America has seen in the last 30 years. Chuck Hughes has spent that time building a reputation as one of the most trustworthy options traders in the industry. His publishing group Legacy Publishing LLC was one of the few trading groups on the planet to have correctly predicted and profited from the 2008 financial crash .As a published author 16 times over, a 10-time Trading Championship winner, and an options-trading teacher for 25 years, he’s learned to trade and teach without an ego.
