A Trade A Day

Tencent Music Entertainment Group (TME)

Welcome back. Since it's only day 2, let's explain what we are doing here. Over at StatsEdge, I run algorithms that I have backtested against the market to show some edge in trading. From there, I use my eye to pick some names to watch the next day. I am challenging myself to put out daily content, including one detailed trade each day, while I put together “StatsEdge Premium,” which will include all of the output of these algorithms along with the rules to trade them.

So we are going to break down a potential trade I will take tomorrow. Not investment advice just a trade I might take in my own account. As with all of them if the stock dosent do what I want over the enxt few trading days I will not take the trade.

In my market wrap-up tonight, I noticed KWEB 0.66%↑ holding a base with the stochastics curling up. I have liked the trend change in china for a whle now so when our symbol for tonight poped out of the algo I took notice.

TME 0.00%↑ Showed up on a daily breakout algo as it retook the AVWAP from a major high. The trend on this stock has been insane for a while now so the wind is at our back. If China is going to bounce here, it makes sense that the leader would continue to lead.

Breaking down the levels I am watching for tomorrow. I will look for a breakout of $15 or the stock to hold $14.75 for a period of time. If we break $14.25. I am wrong and try to move on to the night one.

As always let me know what you think and make sure your going to www.statsedgetrading.com and signing up for the free trading course or the trading plan course there.