9:53 AM – Adding another 1/3 to my VOYA position here as shares break out to new highs with what is, at this time, an increase in volume. The combination of new-high price strength and increased volume is bullish technical action and gives me enough confirmation to add to the position.

I now have 2/3 of what I consider a full position in VOYA.

ULTRA Trader’s Tip: Add as Strength Is Confirmed

  • A breakout to new highs shows that buyers are successfully pushing through previous resistance.

  • Increased volume adds conviction and helps confirm the strength of the move.

  • Scaling in by thirds allows the stock to prove itself before committing a full position.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

3:40 PM – Picking up a 1/3 position in this Insurance leader as shares push toward new all-time highs while volume runs above average. The combination of strong price action near record highs and increased volume gives me enough bullish technical evidence to initiate a position.

James’ Trader’s Tip: New Highs Show Leadership

  • Stocks trading near all-time highs are demonstrating strong relative price action.

  • Increased volume adds confirmation that buyers are supporting the advance.

  • Starting with a 1/3 position allows us to participate while giving the stock room to further confirm its strength.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.