The Student Loan Ranger

Small watchlist this week with 2 trades triggered, both of which were successful.

ReneSOLA (SOLA)

Predictions and chart alerts:

• "A body breakout of the pennant or flag at 614. Enter with stops at 570 and short SOLA from 565 to 525. Profit target at 750 longs"
• Pennant
• Strongest lower support at 465

What happened:

• Short signal given, SOLA dropped on the first day to 526, and then dropped the next day to 495.
• Hanging around support/resistance zone after gapping down more on Friday after a 180 and inside day.

Great short on SOLA here, good setup and good follow through. These setups are important, as your can trade the long or the short signals when the stock has the potential to go either way.

Ferrexpo (FXPO)

Predictions and chart setup:

• Momentum play on new highs
• Look for continued gains, and then retracement for another entry at around 418.

What happened:

• Momentum continued Monday and Tuesday to new highs briefly on Wednesday
• Wrote intra-day on Wednesday to take profits in FXPO at 470
• Dropped to new support at just below the 418 figure I mention on Friday
• Looking for moves off to new highs next week
  

Good quick trade in FXPO here, shows however that the bull breakouts are a lot weaker than the bear breakouts at the moment.

British American Tobacco (BATS)

Predictions and chart setups:

• Look for moves off trend line for support
  
• Ascending wedge

What happened:

• Still moving off trendline
• BATS must be the slowest moving stock on the market
• No entry signals long or short
  

Getting tired of watching BATS, just doesn't move fast enough. The trendline is still intact, and a move off this over 1850 still represents an opportunity to go long.

Marstons (MARS)

Predictions and chart alerts:

• "Enter on a break north of the ema, short the stock on south breaks of 194"
  
• Touching the 25 day ema
  
• Flag pattern
• Long term descending wedge

What happened:

• MARS gave no buy signal this week
• Reacted badly to the 25 day ema, dropping off at the start of the week
• Touched 194 on the button, and then moved north

Despite no buy or sell signals this week, MARS was quite interesting to watch in terms of key prices. It hit 194, but didn't go any lower, and then moved up off the support. I think MARS will hit 215 with potential for 235. However, I doubt it will hit this given the longer term descending wedge. A breakout of this wedge will provide a better entry signal.

As for stats this week;
100% success on entries this week
50/50 on signals VS no signals
11% returns on average

Good watchlist brewing for next week, looked through about half the market and have about 11 pretty good setups already. I should be trading next week so things look good for the week ahead.