Put e*Trade in your e*Trade account*

• Posted by Greg Harmon
• on March 22nd, 2016

e*Trade Financial ($ETFC) has come a long way from the baby trading commercials to the platform it has today. And because of this it has attracted many retail account. It is now one of the premier on-line brokers with TD Ameritrade, Schwab and Interactive Brokers. Despite that the stock took a nose dive to start 2016 along with all the banks, and the broad market in general.

It made a bottom February 11th with many other stocks and started back higher after erasing 35% of its market cap. The bounce took it back to 25,50 by early March and it has consolidated there , with a small pullback. Recently there signs it may be ready for another leg higher.

The consolidation found the rising 20 day SMA last week and starting using it as support. At the same time the volume has been falling, a sign of exhaustion of the consolidation. The Momentum indicators are level after the run higher, but only on the edge of the bullish zone with lots of upside left.

A push over 25.50 would carry a target on a Measured Move to 29.50, near the prior consolidation in December. That is also over 15% higher. Are you ready to add e*Trade to your account?

* You can actually do this trade in any account, not just an e*Trade account.

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