Hey, Ross here:
Here’s an actionable trade idea for Thursday.
Chart of the Day
Studio City (MSC) is a Hong Kong-based resort and casino located in Macau.
After finding support at the $2 area last year, the stock emerged from its slumber to advance in just two months.
It has been consolidating since January and now appears ready to go another leg higher.
This is a low-priced, thinly traded stock and as such, carries more risk. So, we want to be precise with our entry on this one.
Active traders might consider buying near $7 – where the stock is right now – with a stop loss at $6.30.
P.S. Would you like special trade prospects and potential market moves sent directly to your phone? Text the word ross to 74121.
Insight of the Day
When it’s time to buy – you won’t want to.
Those were the words of famed technical analyst Walter Deemer. The price action over the past week was one of those times.
And here’s another quote, this time by the legendary Sir John Templeton, “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”
By the time you feel optimism, you’ve already missed the boat. The juiciest profits can only be made by investing when the market is pessimistic or skeptical – even though it’s counterintuitive. Sound familiar?
And remember, breakout stocks often lead the market by rising first. This means you don’t even need to wait for the broader market to move to start making healthy profits – you can start doing so now.
I’m spotlighting some of these breakout stocks right here in this newsletter. But if you want more – so you can really load up your portfolio with these high-potential stocks – then make sure you check this out.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
