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  • Writer's pictureT. Livingston

$SDGR $ONEM $KNSA at Major Support Levels

Updated: Aug 17, 2020

$SDGR, $ONEM, and $KNSA are three stocks that are pulling back to their 50-day moving averages with major support levels below. I like to look for stocks like this because they offer nice setups in terms of risk to reward. My mindset is anything can happen and there is a good chance that I will be wrong. If the stock heads lower, no worries. I simply sell when my stop loss is hit. However, if the support holds, the stock may go on a strong run higher.

In addition to the 50-day moving average, these three stocks also have their breakout levels below. When old resistance levels are broken, those levels often become new support levels as traders who missed the breakout rush in to buy at this second opportunity. In the stock market, anything can happen. That is why it is best to use charts to help size up the risk to reward of each trade.

Full Disclosure: ONEM, SDGR, and KNSA are stocks I currently own.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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