Stocks were sharply lower for most of trading Thursday, pressured by disappointing economic reports and amid worries the Federal Reserve might scale back its bond-buying program.
Fidelity National Financial Inc. (FNF) was a notable standout in Thursday trading session as the stock advanced 0.98% on above the daily average volume to 25.75 – a whisker below the all-time high of 26.41 set in January 2013. This is bullish from a technical perspective. In fact, as the chart below indicated, FNF could climb up to test the 127.2% Fibonacci extension near 28.60 should it hurdle and sustain above the key technical level. Just so that you know, initially profiled in our February 8, 2013 “Swing Trader Bulletin” FNF had gained about 11% and remained well position.
The graphic below is from our “U.S. Market ETF Trading Map”, which show the near-term technical bias and trading ranges for FNF. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red. The yellow bars identify period of neutral or sideways trading pattern. Additionally, the light-blue shading represents the short-term trading range. A move above or below that range is considered overbought (as represents by the red shading) or oversold (as represents by the dark-green shading). Readings above or below the red and green shaded areas are considered extremely overbought or extremely oversold.
Chart 1.1 – Fidelity National Financial Inc. (daily)
You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.
This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?
Subscribe to CEM News to receive more in-depth research from Capital Essence.
P.S. Take advantage of the 30 days special trial [new member only]. Join a small group of elite traders and receiving these daily trading ideas by click here to subscribe.