This morning, I am sharing a recent trade idea that was uncovered by my friend and expert trader Anthony Speciale.
Anthony is one of the best traders I’ve ever met…
While he has a sweet spot for the energy sector, he’s really just a technical trader when it comes down to it.
That means he can apply his technical analysis strategy to any market… Not just energy.
You see, he has built an incredible system that allows him to determine the ideal entry, stop and target points for any asset.
He calls it his Apex Profit Window…
A Sweet Trade Idea
The following is an excerpt from Anthony’s Energy Investor Daily newsletter, in which he details one of his latest trade ideas using his Apex system…
The Hershey Company (HSY) is a $48 billion manufacturer of confectionary and other snack items.
The company was founded all the way back in 1894 and remains based out of Hershey, Pennsylvania.
Its products are known and loved across the world by both children and adults alike.
The stock could now be setting up a further rally, so let’s check out the chart…
Earnings are coming up soon for HSY, with the next report set to be released on Nov. 4.
I’m expecting more good things this quarter, as HSY has outperformed the past 16 quarters.
I’m not sure you could ask for much more!
As the chart above suggests, an ideal entry would be triggered by a weekly settlement above the green line.
An ideal stop would be placed at the pivot low prior to the breakout.
And a conservative ideal target would be placed 1%+ short of the gradually ascending overhead resistance channel.
Consider these other odds enhancers…
The market coming from an area of being oversold, price is above the 50- & 200-day simple moving averages, and volume and market breadth are supportive.
All of this should help confirm that the opportunity will transpire…
Ross here again…
While this isn’t a recommendation for readers of Stock Surge Daily or Energy Investor Daily to buy HSY or any other security, I wanted to show you how Anthony uses his Apex trading system.
Anthony’s strategy revolves around a weekly settlement 1%+ above or below support or resistance (depending on whether it’s a long trade or a short trade).
In this example, Anthony was looking for a long idea if the stock settled 1% or more above $231.60.
And as you can see in the weekly chart above, last week’s big green candle easily closed above that level
The stock closed about 3.6% above $231.60 last Friday.
And according to Anthony’s system, that means it should begin to move towards the ideal target at $256.00 in the coming weeks…
See the Apex Fortunes Strategy in Action
Now, if you’re ready to see this strategy in action and want to learn how to use this in your own trading, you need to check out Anthony’s “Apex Fortunes Summit” today at NOON!
2022 has proven itself to be a bloodbath… That’s swallowed up nearly $7 trillion in investors’ wealth…
But Anthony has personally shown 101 mom and pop traders how to grow their accounts by 382% in as little as four months!
If you want to be an apex trader and are ready to conquer this volatile market, you definitely need to check out his strategy.
Embrace the surge,
Editor, Stock Surge Daily