In oversold region - but still in uptrend. Can wait for price to come out of oversold area.
VIXFix at peak - showing linerar regression green. Can wait for it to turn lime.
Bounced off support area + trend line
Positive divergence on OBV
This 3x bull of XLF
If XLF will pull back 15%
FAS will done about 30%
RSI Divergence on Both XLF and FAS
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan should be less than 1% of an account.
Since the March sell off, this stock has created two major regression trend channels. With recent catalysts to include vaccinations, stimulus, and upcoming earnings, a bull flag has formed at the regression channel and double resistance breakout. This stock will be $100+ within months IMO
Looking at the long term picture, we did not have a clear B wave bouncing during the March crash, that could suggest a full ABC retracement was completed. We could possibly be rejected at the upcoming Fibb levels, particularly around 50 and 61.8 retracements around 61 and 71. MACD divergence is also negative, which could suggest an impending correction, the extent...
FAS took a beating on Tuesday during the Barclay's bank conference as players revealed all the nasty writedowns on the way.
But the BofA survey of large fund managers also hit the wires, showing that the most concrete outlook is an expectation of a steepening yield curve once a vaccine is around, which directly translates into rapid growth in bank net margins....
On this one, I plan to take it to targets one, then re-evaluate
Top 10 Holdings
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Russ 1000 Finan Indx Swap1.59%
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MA - Mastercard Inc A2.84%
WFC - Wells Fargo & Co2.20%
C - Citigroup Inc1.87%
PYPL - PayPal Holdings Inc1.36%
I'm a long term investor, who are using software with median renko and fibs to analyze charts(1 get up to 10 signals in a year), and i currently i think FAS will go higher, i would set trailing stop to distance from the price to SL.