The bulls came charging mightily in Feb 24.
Did you benefit?
While the S&P 500 rose 4.9%, are you curious to know how our #PowerStocks picks performed in Feb 24?
- Palo Alto Networks (PANW): No entry
- Bank of America (BAC): Gain of ~4%
- Ecolab (ECL): No entry
- Diamondback Energy (FANG): No entry
Based on the trading plan shared in our weekly article, there wasn’t an entry for 3 of the stocks.
However, if you’d applied The Art of Explosive Profits framework, you would’ve entered all 5 stocks and gained over 3% on average in Feb 24.
Will Mar turn out to be even better?
It could!
Before I share this week’s stock pick, let’s review last week’s stock pick: Diamondback Energy (FANG).
Review Of Last Week’s Pick Of The Week
Source: diamondbackenergy.com
Diamondback Energy’s share price did pull back as anticipated, but the pullback was much shallower than expected.
After pulling back to ~$174, its share price shot up by $11.
Because its share price is now far from its immediate support area of ~$167, you may want to turn your attention to this week’s stock pick instead.
Yes, we will miss some trades and that’s ok.
With that, why is Vistra (VST) our #PowerStocks pick of the week?
Why Is Swing Trading Vistra (VST) Worth It?
Source: vistracorp.com
Vistra (VST), this week’s #PowerStocks pick belongs in the Utilities sector. The company generates electricity for sale.
Electricity, like fuel, is essential for our daily living.
Its share price has experienced numerous explosive up moves, measuring between 4.5% and 27.7%.
Such moves are extra mind-boggling for Vistra given that it’s in the Utilities sector and a $19b company!
Furthermore, a pullback could be near, possibly presenting a fantastic swing trading opportunity.
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Performance Of US Stock Market vs Vistra (VST)
Comparing the performance of Vistra’s shares against the S&P 500 leaves you with the impression that the S&P is stuttering.
But that’s not the case!
The S&P 500 has been roaring.
Referring to the chart above, it’s also clear that Vistra’s share price has been on a powerful uptrend, rising 50% in just 3 months!
With such bullish momentum, its share price will likely continue rising, making it a fantastic candidate for a swing trade.
Therefore, you’ll want to analyze this stock further.
How Explosive Is Vistra (VST)?
Does Vistra’s share price have a track record of exploding upwards?
Judging from the chart above, yes it has!
Exploding 14 times in 10 months is a feat.
But what’s more impressive is…
Vistra is a defensive stock with a huge market capitalization of nearly $20b!
And its share price can continue to rise beyond 27.7%.
So, is this an opportune moment to buy its shares for a swing trade?
Key Price Levels
I know you can’t wait to get your hands on Vistra’s shares.
But I think there’s a better time.
Uncovering its key price levels will help you understand why.
I foresee a support area ~$50. $50 is a round and psychological number that many traders will be keenly watching.
There’s a good chance for its share price to reverse to ~$50 in the near future before rising again.
Hence, I’m eagerly waiting for its share price to drop to ~$50 before considering buying its shares for a swing trade.
Finally, this is for educational purposes. Please perform your due diligence.
All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.
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Many new traders are often left confused by conflicting signs and signals.
Worse still, ~80% of traders lose money.
This is because trading isn’t just about skill alone.
It includes the mastery of your emotions.
But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market?
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