Swing Trade Quick Pick: Hornbeck Offshore Services (HOS)
I like this trade setup quite a bit and has served me well so far with Hornbeck Offshore Services (HOS).
I swapped Diamond Offshore Drillers (DO) for HOS and the net gain between the two has been much better had I just stayed in overextended DO.
The ascending triangle breakout at the highs is often times one of you most reliable trading price patterns that you'll find in a very strong bullish market. I also like how the coiling price action represents less than one-third of the total price move from the April lows. That helped confirm for me that he price move was much more of a temporary holding pattern than any shift in market sentiment, which gave me the trading edge I was looking for.
Here's the HOS Swing-Trade Setup.