On Semiconductor Corp. (Nasdaq: ONNN) could head lower after consolidating on the recent lows. Short ONNN if/when it trades below $6.10 with a stop loss above $6.65. Depending on your patience and risk tolerance our targets for ONNN are $5, $4, and $3.
On the long side, Old Republic International Corp. (NYSE: ORI) may be poised to head higher if it can cross over $9.00. Place a protective stop below $8.75 and look at $9.50, $10, and $11 as exit target areas.
Our readers understand the difference between investors and gamblers. Gamblers will read this and take a position right away, Investors will be patient making sure the entry prices are crossed tipping the odds in their favor. Don’t be a gambler.
Remember to always book your profits. Greed kills. Trailing stops can be a great way to protect profits as a stock moves in the direction of your trade.
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Each day after the close, we scan the market looking for trade setups that provided our readers with lower risk entry points on stocks that could be about to break out or break down over the short term. Each idea comes with specific entry criteria as well as stop loss and target areas making our ideas easy to understand and trade. Because our ideas are technical in nature they are neither a positive or negative commentary on the underlying company.
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