EGLE (EGLE Instant Analysis) is a penny stock that’s worth watching. The stock is hitting support right now on the weekly chart.

Please be aware the volume for this stock is low so there is a lot of risk involve.

Only trade this stock if you can take the risk and be disciplined, if the support breaks, you need to get out.

Many people get hit hard on penny stocks or other stocks because they are so stubborn to admit when they are wrong.

Use limit order if you do decide to trade this stock and set stop loss. Also you should set a price target, don’t be greedy.

Trade on your own risk.

CHK (CHK Instant Analysis) hit a multiple year low and is near the support line. Definitely worth watching at this level.

Again, set tight stop loss in case CHK (CHK Instant Analysis) break the support level.

To day trade successfully, you need to know when to take profit and when to cut loss. You should always set a profit target before you buy a stock. Physogloy plays an important role in day trading as humans are build to be greedy. Many new traders often turned a profitable trade into a losing one and then lose confidence in trading or blame luck. Remember, there is no luck in trading, there are only disciplines and rules that you need to follow. When you see a stock going up 10% during intraday, then it is a good idea to sell. Instead, some people wants a 100% gain and and take big risks. Remember, very few stocks go up 100% in a short time. If you want to learn day trading, the first thing you need to learn is not to be a greedy trader.

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Check out this nice day trading course.

FONR (FONR Instant Analysis) gained another 29.55% today with a total gain of around 70% since I posted this stock last Monday.

http://stock-trading.dojispace.com/index.php/2012/04/break-out-stocks-416/

LNG (LNG Instant Analysis) made a nice break out last week.

The stock broke the $17 resistance and went higher, and then it retraced to $17 today but failed to break below it.

The $17 formal resistance now becomes a support.

As long as the stock trade above this price, it is a nice stock to hold.

However, if the LNG (LNG Instant Analysis) break below $17, then it is time to sell the stock and cut your loss or take profit.

$18.29 is now the resistance for this stock, if the stock trade above this price with good volume, it is time to load up more shares of this stock.

$18.29 is a 3 year high for LNG (LNG Instant Analysis).

Here are some nice stocks from MarketClub this week.