{"id":14997,"date":"2024-03-28T14:00:00","date_gmt":"2024-03-28T18:00:00","guid":{"rendered":"https:\/\/mtatradeoftheday.com\/?p=14997"},"modified":"2024-03-29T10:32:52","modified_gmt":"2024-03-29T14:32:52","slug":"time-to-put-this-stock-on-your-radar","status":"publish","type":"post","link":"https:\/\/mtatradeoftheday.com\/time-to-put-this-stock-on-your-radar\/","title":{"rendered":"My #1 Pharma Play and A+ Setup for Monday"},"content":{"rendered":"
Hey Gang,<\/p>\n
While there is no trading tomorrow due to Good Friday, I want to leave you with a stock idea for Monday.<\/p>\n
These come directly from my Daily Profits Scanner.<\/a><\/u><\/strong><\/p>\n And what I call A+ setups\u2026<\/p>\n <\/p>\n The company I want to bring your attention to is Abbvie (ABBV).<\/strong><\/p>\n <\/p>\n This stock has been on an absolute tear lately, outperforming the market and up more than 18% year-to-date.<\/p>\n Why do I like it?<\/p>\n The chart is clean, with no overhead resistance. In other words, if the stock spikes, it wouldn\u2019t encounter any bagholders.<\/p>\n Sometimes, you can find a bullish setup, but the chart can be messy with a lot of baggage.<\/p>\n For example, while one could see Wynn Resorts (WYNN<\/strong>) as a bullish setup, I would argue that the chart isn\u2019t clean\u2026and has some baggage to overcome.<\/p>\n <\/p>\n From my experience, I have found some of the most explosive moves happen on clean breakouts.\u00a0<\/b><\/p>\n Which is the cornerstone of my TPS System.<\/p>\n It stands for Trend, Pattern, Squeeze.<\/i><\/b> It\u2019s one of my favorite setups, and thanks to my Daily Profits Scanner,<\/b><\/a> it’s now easier than ever to find.<\/p>\n Check it out:<\/p>\n When you look at the chart on ABBV<\/b>, you\u2019ll see a clear uptrend.<\/p>\n <\/p>\n In fact, it\u2019s trading very near its 52-week highs.<\/p>\n By the way, this is where the T in TPS comes into play.<\/p>\n Identify the general direction of the trend. If you can\u2019t look at the chart and quickly identify the trend, it\u2019s not strong enough.<\/p>\n Next, we try to identify the pattern, which is also the P in the TPS system.<\/p>\n Patterns are recognizable formations in stock price movements. The TPS system focuses on simple patterns like \u201cbull or bear flags.\u201d These patterns show a stock’s price going up or down, followed by a consolidation period near the high or low.<\/p>\n Now, when it comes to charts, I like to nerd out.<\/p>\n And as of the time of this writing, ABBV <\/b>had bullish setups on the 4-hour, 15-minute, 30-minute, 1-hour, 2-hour, 4-hour, and 1-day setup.<\/p>\n Now that\u2019s what I\u2019m talking about\u2026<\/p>\n When you can get bullish confirmations on multiple time frames, it tells me the stock is setting up for something special.<\/p>\n Not only that\u2026but ABBV <\/b>is currently in a \u201csqueeze.\u201d<\/p>\n The “Squeeze” in the TPS trading system is crucial in identifying a stock’s consolidation period.<\/p>\n This period indicates that the stock is at a rest point and potentially ready for its next price move.<\/p>\n The Squeeze is represented by red dots on the indicator, and its occurrence suggests a pause in the stock’s movement, either upward or downward.<\/p>\n This concept is likened to a long-distance ultra runner who pauses for rest before the next leg of the journey.<\/p>\n The Squeeze indicator is essential in determining the right time to trade, as it signals the end of a consolidation phase and the potential start of a new price movement.<\/p>\n Right now, ABBV<\/b> is in a daily squeeze.<\/p>\n Of course, I don\u2019t have a crystal ball, and no one knows for sure whether or not ABBV<\/b> will shoot up.<\/p>\n But I do like the odds of a move higher.<\/p>\n Action Plan:<\/b> The cool thing about finding setups like this is you don\u2019t have to sift through thousands of charts to find them.<\/p>\n In fact, you can see me use the Daily Profits Scanner live in my latest service, Profit Surge Trader<\/a>.<\/p>\n We\u2019ve been on an insane hot streak this year on my live streaming platform. We\u2019ve closed 25 trades for a 100% win-rate!<\/p>\n And since we launched back in October, we\u2019ve cleared 55 winners total for a super strong 90.16% win-rate.<\/p>\n If you\u2019d like to discover more, it\u2019s simple.<\/p>\n