Short HEIA - 97.62
Stop Loss - 99
Take Profit - 95
Hold for about a week, close out in 3-4 days if trade goes in your favour and price has started idling.
If price has moved against you, but has not hit SL, leave the trade open unless you need the cash for another trade.
Good buying opportunity for Heineken if the support holds. The stock price needs to drop to 77,68, before bouncing back up on the support. First resistance is R1. We will have to see if it can break through this, let me know in the comments !
168 = Tsingtao Brewery Group
600573 = Beijing Yanjing Brewery
SPX = S&P 500
CARL = Carlsberg Group
HEIA = Heineken N.V
TAP = Molson Coors Brewing
ANH = Anheuser-Busch InBev --- owns Corona beer brand
(This list excludes mixed drink companies like Diageo (DGE).)
As can be seen in the chart above, the US and European brands all significantly underperformed the S&P...
Heinken completed large degree five waves up and it is now being followed by a three-wave decline toward 52, the first downleg of which is complete. Short term, we should see a corrective rally in wave ((B)) that will set the stage for a renewed impulsive decline in wave ((C)).
Not a super convincing setup, but definitely worth the trade! Remember, I only trade with 1% risk of total capital and you should too.
- On the daily we see price below the kumo cloud + a failed swing pattern for HEINY.
- Uptrend line of this little move up broke.
- I'm looking for a close below the kijun here > Renko shows me this is the case.
- Although we will...
Stock has been undervalued for far too long. Nice opportunity for a buy, especially considering the divergence on the RSI and the oversold area of both the RSI and MFI. Solid company with solid financials.
The primary uptrend originating in early 2014 has dried up. The daily chart shows consolidation after a recent breakout failure. Sellers are almost certain to make a push below support at 86.85 and this trigger a bearish trend on the daily chart.
Nothing exceptional about that by itself, however, such a downtrend will also mean a failure on the weekly trend. Such...