Hey, Ross here:
And here’s an actionable trade idea that’s already shown a profit.
Chart of the Day
Unity (U) looks really attractive to me.
We talked about this stock in Thursday morning’s live War Room session, and I bought a few hundred shares at that time.
Pull up a weekly chart of U and you will see a stock trying to break out of a 14-month Stage 1 base.
Shares ripped through the 200-day moving average (red line on chart) in early June and have held above the 21-day (yellow line) ever since.
Then, a series of shallowing retracements showed that the market was working through supply at what has been resistance for many months.
I recommended my Stealth Trades subscribers get in on U last Friday, after it had pulled back nearer to the $44 mark.
That’s a call that has paid off.
But U’s breakout looks to still be in the early stages – meaning there’s still a buyable opportunity here.
I wouldn’t risk more than 10% on the trade.
Insight of the Day
The biggest fastest gains come in the early stages of a new bull market – and we’re still in one.
The average S&P 500 bull market lasts 1,011 days.
I called the new bull market back in January – but we’re still only about 200 days in.
This means we’re still in the early stages of the new bull market (and if you consider I was a little premature on that call, that means we’re earlier still).
This is a time when the skeptics are still being slowly shaken out – sending many stocks into the “shallowing retracement” pattern like you just saw above…
A pattern that reliably predicts many big breakouts.
That’s why I’m still so excited about all the opportunities on the table for the rest of the year…
Opportunities that my breakout strategies are perfectly calibrated to spot.
So, if you haven’t equipped yourself with my flagship breakout strategy…
Make sure you join 18,000 others and click here to get it now (it’ll only cost you $5).
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
