Time to Trade Tradeweb? (TW)

by | May 2, 2024

When looking to trade breakouts, the famous traders like to see some momentum already in the stock.

With momentum, what goes up keeps going up — at least for a while.

And Tradeweb (TW) definitely fits that description.

Since July of 2023, TW has been stair-stepping its way upward and has more positive momentum than most stocks at the moment.

And right now it’s paused in a sideways channel, possibly gathering up energy for a breakout.

Here’s the chart:

A break above $108.05 could lead to a nice momentum-continuing move.

We’ll keep an eye on it.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.

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