Trade Ideas Newsletter 06/20/2016

SYMC is showing significant strength right now

Based on the analysis above in SYMC, traders should determine that their portfolio can handle the additional risk from a new position. Also be sure that SYMC is not significantly correlated with your existing positions. Lastly, experienced traders never ignore how a new addition relates both to the overall market conditions as well as their existing account. For example, check the S&P 500. Is it trending or stationary recently? Has it moved up or down though key levels? Be sure to matvh up your trading actions on SYMC with the overall market so you are fighting the crowd.

CHART

Currently the important sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward SYMC. Also, the price action in SYMC has been moving up a lot. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.

Symantec Corp. (SYMC)

Symantec Corporation is a United States-based company, which offers security, backup and availability solutions. The Company’s segments include Consumer Security and Enterprise Security. Its Consumer Security segment focuses on customers to be productive and protected at home and at work. Its Norton-branded services provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals, families and small businesses. Its Enterprise Security segment includes its threat protection products, information protection products, cyber security services and Website security. Its services include business critical services, consulting services, customer success services, cyber security services and education services. It offers solutions for automotive, cyber insurance, education, federal government, financial services, industrial control systems, healthcare and retail industries.