Here’s a quick hit on IHS Markit ($INFO) (October 04, 2019)
INFO
IHS Markit ( NYSE: INFO ); I wanted to pass this onto you. This looks like it is setting up to be a pretty good trade. I would like to see it kind of tighten up a little bit more but the fact that the stock fell, one big day, one big down day on huge volume, and then the next with slightly heavier volume. Then here, another high-volume day, right? Well, the close was higher than the open so even though the stock closed lower than the prior day this was actually the first day where buyers really showed up. And then for the next week and a half or so buyers have still stayed there. So the way that I am looking at this trade is, right about $66.00 or so is where the buyers live.
Now, I don’t know how much higher the stock is going to go before the sellers show up but the way I am seeing this, this is a stock that is kind of doing this type of thing. So we want to see this thing pinch a little bit more. They don’t report earnings until January now so I think this stock is poised to go higher. What I would suggest you do, set an alert at the top here, 67.54, set an alert a like 67.60. Then if the stock is up there and it’s on heavier than average volume for that time of day I think you can buy it. You just keep a stop maybe 3 percent, 3.5 percent below where you got it.
Free Chart