Thinking about learning how to make money? Check out Chegg (CHGG)! Th is education/trading stock is close to breaking out. (July 02, 2019)
CHGG NUGT AYI AMRN
I want to look at Chegg ( NYSE: CHGG ) here, educational and training services. This is why: This is in a really nice tight squeeze, right? This is a weekly chart, I typically look at the daily charts but Bridget Brown, who works with me, found this today just a little while ago and so I want to share it with you.
Here’s the thing: The 40-week moving average, 200-day moving average, is moving up really nicely. The stock is in a mature uptrend since 2017, since the break out here. It basically started at 10.00 and now it’s up at 40.00, that’s a pretty good move. Well, the way I see the stock it’s very close to being actionable. Again, if we look at this on a daily chart you will see what I am talking about.
Now, I am not talking about rushing out and buying this tomorrow morning or something. I am just talking about keeping this on your watch list and even setting an alert. The recent high here was just slightly above $40.00; it’s up at 46.64 (I can just do this with a trendline here). You set an alert just above that level; I am setting it for 1-month. Over the next month I expect it to break out and then just get notified when the stock is going to break out. So that is how I would trade Chegg ( NYSE: CHGG ).
We were looking at NUGT ( NYSEARCA: NUGT ) first thing in the morning here and the stock ultimately, it’s running up here, it’s a $24.00-$25.00 stock so it doesn’t have to move up much for you to make some money. I was initially looking at this saying, “Okay, I wouldn’t be surprised if it hit $26.00”, that’s about 3 percent from where we are looking at it and then ultimately it moves up higher.
We got similar action on Acuity ( NYSE: AYI ) here, which doesn’t look like much now but if you look at the way this thing traded this morning this was a really nice trade. Wait for the stock to sell-off and then get in on it. We jumped in on it here and made some pretty good money.
Amarin ( NASDAQ: AMRN ), which I am looking at as a trade. If you look at it out here in this time frame this is a clean break out above 20.00. Frankly, my price target on this, just based on pure momentum is $30.00.
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