EXM C&D Trade (long)

Here's another Cats and Dogs trade, also in shipping, EXM.

 I'm not quite sure if this would be a stage 2 breakout, but it would be a breakout nonetheless, RSI is positive here as well.

 As far as stops, there's a hammer that provides some support, which would be a deeper stop, or you can use a tighter stop at Thursday's lows (just below) as that was the pivot day. Again, you want to see a move through resistance on increasing volume, the bigger the better.

 The 3C 15 min chart, accumulation through the flat area on the daily.

And the more recent 2 min accumulation.

All the same concepts apply, these are speculative trades that can really move, but again, they tend to be a warning sign for the broad market which I will explain after I get the trade idea out.

Really, you can use any stop, even if you want to use something as tight as the entry on a closing basis, you are looking for the breakout move and subsequent follow through.