EFJI Swing Setup

I’m adding EFJI to my swing setup watchlist today. It busted through an ascending triangle pattern on enormous volume a few days ago.

I don’t really like buying stocks while they’re going up, so I’ll be watching to see if it pulls back toward the price region denoted by the yellow box for a low-risk entry. The top line of the triangle at ~$7.70 is now a very strong support, so an entry price as close as possible to $7.70 should have limited downside.

Like always, I probably won’t be interested in buying this stock unless if I can get a good entry price. There’s a ton of other stocks out there anyway.

BTW, a swing setup is NOT a buy and hold kind of situation! Judging by the email I get from readers, I think some people do not distinguish between the two trading styles. Please read this swing trading tutorial if you’d like to learn more about swing trading. It’s by far my favorite style of stock trading.