Trade of the Week for May 8th, 2017
“I learned early that there is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. I’ve never forgotten that.” – Jesse Livermore
MTBC returns in this week’s Trade of the Week after another great setup led to some big profits for our students. MTBC began to pick up in the final 15 minutes before the market open on Wednesday, May 10th. Our instructor Josh Levitan had made a callout at 9:24 am explaining that he was looking for the stock to pullback to the $2.40 level based on his analysis of the daily chart and previous large order prints on time and sales. Right at the open at 9:30 am, MTBC pulled back right to the $2.40 support level and bounced off it up to a high of $3.84. Since we teach our students that a 20 cents/share gain each day is an ideal goal, we love to hear that many of our students are surpassing this goal and making much more like our student Andrea C. who pulled in +$0.75/share on 5,000 shares in this one trade!
Find out how Josh chose the $2.40 as a major level for the stock and how to trade a huge gainer like this by joining our next free stock webinar presented by Fausto Pugliese.