This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Big Swing Trade Ideas for Wednesday, June 4: First Solar, More

Stocks in this article: FLSR RP WETF

2. Next, let's look at RealPage, which provides on-demand software solutions for the rental housing industry in North America.

RealPage traded up 62 cents on Tuesday to $21.69 for a gain of 2.94%.

  • Tuesday's range: $20.92 - $21.78
  • 52 week range: $15.40 - $26.34
  • Tuesday's volume: 413,839
  • 3-month average volume: 543,872

RealPage was a rounded bottom breakout on May 7, and this is a perfect example of what a rounded bottom breakout can do. Shares closed above the 50-day simple moving average on May 7, then traded straight to the 200-day simple moving average, for as much as 22% gain. Then, there was a slight pullback.

Now the chart has formed a "rising method," which is a multiday candlestick pattern. It will likely break out today. the breakout level is at yesterday's high of $21.78. The rising method engulfs the previous four days' candles, basically nullifying them.

There is overhead resistance at $22.50-ish, $24.00, and again at $25.71. I'd set a stop at a close of about $20.67. I'd target the 52-week high, and look to stay long on this one until it stops it's current bullish trend.

All signs say to stay long on RealPage: bullish sentiment, positive earnings. Plus it's forming higher highs and higher lows, it's consolidated on it's way up, and it shows volume decreases on bearish days. Great chart! 

Stay long until you see a confirmed sell signal, or a confirmed close below the t-line.

3. Now, let's look at WisdomTree Investments, which operates as a sponsor and asset manager of exchange-traded funds (ETFs).

  • Tuesday's range: $10.87 - $11.45
  • 52 week range: $9.11 - $18.50
  • Tuesday's volume: 5,303,249
  • 3-month average volume: 1,516,070

WisdomTree is a rounded bottom breakout as of yesterday, when it closed above the 50-day simple moving average. The current pattern started when it formed a bullish hammer signal at the bottom of the downtrend, when it reached its 52-week low of $9.11. Hammer signals should always be carefully considered, especially when the following days are bullish, like they have been on this chart. Shares have traded up 25% in the last 11 trading days, since that 52-week low.

Bullish sentiment is here.

The overhead resistance is at $11.99, $12.38, $13.01, and then again at the 200-day simple moving average, at $13.45. I would set a stop at about $10.80, which is just below yesterday's low -- but set a stop on a close below that level, not intraday trading. I would have my first target be the 200-day simple moving average for about 15% to the upside.

I don't think it will stop there, so take profits and look to get back into this trade after reaching your first target. My next target would be about $14.45 for another 10% or so.

Stay long until you see a confirmed sell signal, or a confirmed close below the t-line.

Come see me here today, and follow me on twitter @aarongallaher

>>Read More:

5 Stocks With Low Price-to-Earnings Ratios Best for Active Investors

iPhones Still Top Sellers But Android Is Leading Mobile Platform

Tesla Motors Shareholders Meeting: Key Takeaways

Instagram Chases the Art of the Perfect Selfie With Newfangled Tools

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs