Trading Stocks with the Directional Volume indicator and Average True Range indicator shows some potential setups this week on the six stocks that Gail tracks. In this short video, she reviews a potential entry on Ford Motor, Duke Energey (after retracement) and Apple retesting the high.
Trading Stocks Using the Directional Volume Indicator
Goldman Sacs should at least retrace to the Average True Range Stop which is around 204 at the moment and then volume would need to be analyzed using the Directional Volume indicator. On Ford, as price retraced back to the ATR stop, there was absolutely no selling activity indicating upward movement this week. On Duke Energy, the Average Directional Index (ADX) indicates a retracement to the ATR sotp at 74.50. That is the area to analyze volume for possible long entry if sellers do not enter. Then on Apple, the volume shows buyers are still entering so a retest of the high at around 116.23 is expected.
Priceline (PCLN) shows a magenta dot on the Average Directional Index (ADX) but it’s quite flat and a lower low will probably occur. After the low is in, we may see a retracement to the 1330 area (average true range stop value at this time).