Swing Trading Opportunity: HF Sinclair (September 2023)

Did you catch the F1 race in Singapore?

There were more overtaking opportunities given the increased length of straight paths. 

This got to be the most exciting race in Singapore yet! 

In the previous weeks, I'd shared about Cisco (CSCO) and Fastly (FSLY). 

Based on The Art of Explosive Profits, they are no longer valid for a swing trade. 

The Energy sector is resilient and it's there where I found a swing trading opportunity in HF Sinclair (DINO). 

Let's analyze and discover this swing trading opportunity! 

Performance Of US Stock Market vs HF Sinclair (DINO)

You can derive 2 essential conclusions from this stage analysis. 

1. Trend of the stock
2. Superior performance

At a glance, are you able to tell that the share price of HF Sinclair is in an uptrend? 

Its share price has been rising steadily even when the S&P 500 has been struggling.

Next, let's compare the performance of HF Sinclair's shares against the S&P 500. 

HF Sinclair's shares was underperforming the S&P 500 before the bulls charged hard in mid-July 2023. Since then, its shares have been enjoying superior performance, making it an ideal swing trading candidate...

Not so fast!

More analysis needs to be performed.  

How Explosive Is HF Sinclair (DINO)?

Now, let's study the behavior of HF Sinclair's shares. 

Have its shares upward movements been huge enough, making your investment worthwhile?

To save you time, I've marked out the up moves of HF Sinclair's shares.

In the past 9 months, there have been 11 up moves, measuring between 6.1% and 28.5%!

For a stock with a market capitalization of close to $11b, these moves are explosive! 

Is it time to buy its shares for a swing trade now? 

I know you cannot wait. 

But there's just 1 more bit of analysis to go. 

Key Price Levels

After checking the quality of the stock, you'll want to know if the shares of HF Sinclair are ready for a swing trade. 

To do so, I've uncovered its key price level for you. 

Yes, key price levels are support and resistance zones, where prices tend to bounce at.

There's a support zone at ~$59, and the share price of HF Sinclair is hovering around that area. 

Knowing this gives you a price area to focus on, holding you back from fear and greed. 

I think that its share price could fall a little more before rising. 

When the bounce occurs, I'll apply The Art of Explosive Profits framework.  

The Strategy You Can Use To Swing Trade HF Sinclair (DINO)

After comparing the performance of DINO with the broader US stock market, determining whether DINO has experienced explosive up moves, and identifying its key price levels, it’s time to talk strategy. 

To stay in business, you must know your entry, profit taking, and stop loss levels in every trading strategy. Yes, trading is a business, which means that your strategy must be well thought out.

Using The Art of Explosive Profits (AEP) framework, I’d like to see DINO pullback and bounce at around $59 before considering an entry for a swing trade.

As the name implies, you’ll be looking to consistently catch an explosive move in a short period of time.

Instead of relying on news and hearsay, the AEP course will teach you how to screen stocks for swing trading like DINO.

You’ll also learn how to read charts and identify stocks that are about to make a big move.

Finally, you’ll learn how to identify the optimal entry, stop loss, and take profit levels to capitalize on these explosive moves (in a safe manner, of course)!

Can you apply the AEP framework to provide you with a side income while working full time? 

Yes, you can! 

Come, have a look at the AEP framework and incorporate this explosive trading strategy into your arsenal to capitalize on more swing trading opportunities.

Why Is Swing Trading DINO Worth It?

 

Source: investor.hfsinclair.com

The Energy sector is strong and HF Sinclair's share price is a huge beneficiary. 

Its shares has been outperforming the S&P 500 since mid-July 2023, enabling traders to make supernormal profits. 

In the past 9 months alone, it has burst up in price 11 times, with the largest of them all standing at 28.5%! It's highly likely that your money will work harder for you by holding its shares for a swing trade. 

While we wait for the setup, please keep in mind that I'm not a financial advisor, so please treat this as infotainment and conduct your own research.

Lastly, all images are from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com.

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