CXW Inverse Head and Shoulder + Bullish Divergence!
Hey Folks!
Not a fundamental analysis or financial advice, but trading idea on why it could do well in the coming months and beyond. I have discovered a technical repeat pattern in this one. I first found this stock after Trump made his statement regarding large deportations if elected. So naturally I look up prison stocks lol.
I made a nice trade on it last time it dipped and reversed, and I want to bring it to everyone's attention.
The overall pattern is shaping up nicely for a big move, a long election season is approaching border security will be a big deal and Core Civic will benefit in form of major government contracts, especially if Trump gets re-elected, even Biden might get pressured to crack down on border security.
From the company, I'd like to see a new fundamental catalyst to capitalize on this bullish setup.
Happy Trading!
OnePath
Not a fundamental analysis or financial advice, but trading idea on why it could do well in the coming months and beyond. I have discovered a technical repeat pattern in this one. I first found this stock after Trump made his statement regarding large deportations if elected. So naturally I look up prison stocks lol.
I made a nice trade on it last time it dipped and reversed, and I want to bring it to everyone's attention.
The overall pattern is shaping up nicely for a big move, a long election season is approaching border security will be a big deal and Core Civic will benefit in form of major government contracts, especially if Trump gets re-elected, even Biden might get pressured to crack down on border security.
From the company, I'd like to see a new fundamental catalyst to capitalize on this bullish setup.
Happy Trading!
OnePath
Comment:
Inching closer to that neckline
Comment:
The neckline has been broken, looking good imo
Comment:
This one is looking better and better, I think the BD is steering the ship.
Comment:
Fundamental expansion to note.
Last week, "CoreCivic Enters Into New Lease Agreement With the State of Oklahoma for the Davis Correctional Facility"
May 31 news about TN contract extension was briefly followed up on June 2 with, "
"The state of Tennessee awarded private company CoreCivic a new two-year contract extension (with a third-year option) with more money for its South Central Correctional Facility in Clifton, Tennessee."
Last week, "CoreCivic Enters Into New Lease Agreement With the State of Oklahoma for the Davis Correctional Facility"
May 31 news about TN contract extension was briefly followed up on June 2 with, "
"The state of Tennessee awarded private company CoreCivic a new two-year contract extension (with a third-year option) with more money for its South Central Correctional Facility in Clifton, Tennessee."
Comment:
As of late the pattern has formed into a bullish pennant. Volume has steadily increased. So far so good.
Comment:
Keep this one on your radar. Could be gearing up for much bigger move. This is my speculative Trump play for 2024. He keeps mentioning largest deportation in American history if elected. I believe this could significantly benefit CXW. We are about to breakthrough a long term Green Line. Earnings are also soon, and they have been fundamentally solid.
Happy Trading everyone!
Happy Trading everyone!
Comment:
Keep an eye on this one, i think it's just getting started. A Trump victory will set this one off further. It has done well and has a nice structure as the border crisis intensifies.