Campbell Soup Co (CPB) daily
It’s up about 30% from my entry idea in January. Consider taking partial/full profits as it looks like it wants to trade back down to $40 or lower before resuming higher. There looks to be more risk to the downside than reward to the upside in the near term.
Etsy Inc (ETSY) daily
This looks like it wants to go to $38.35 before reversing higher. It has violated support and I think it’s time to bail for now. Exit to limit losses. Will look to re-enter if support holds at $38. Down from my entry idea about 30%.
Carnival Corp (CCL) weekly
Price is seeking a lower support level to reverse higher from. Support is between $30 and $38. My entry idea was in January and is down about 11%. I would sell it to limit further losses as it has broken support.
Lexicon Pharmaceuticals Inc (LXRX)
I discussed this one a couple of months ago. This is what I wrote…
“The next chart I want to share is Lexicon Pharmaceuticals Inc (LXRX), a biotechnology company. It is highly volatile and risky. But…please study the chart. Look at the repeating cycle rotation of expansions and collapses. It appears to be at the threshold of another expansion that could occur over the next year.”
“I’m showing this as more of an exercise to follow price action over the next year to see how close it can hold to the repeating pattern. I own a little from $6.90. I will put it on the “Entry” list so we can follow it together to see how it plays out. I am not “recommending” it as it is highly speculative but it should prove interesting to follow. This does not mean you shouldn’t buy it but know that it is risky. The repeating price action itself is just amazing to me. Let’s see if it repeats again.”
Good lesson in risk. I got crushed. Time to exit.
Have a happy week,
Don