Trade Idea: Potential long trade on SCHW (Charles Schwab).
The stock is retracing to a channel trendline aligned with a gap filled today, possibly offering a favorable risk-to-reward setup.
Target 1 around 64 could cater to a safer approach, while a more aggressive stance might aim for the 74.81 gap fill.
A pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. (Source: Investopedia)
NYSE:SCHW ...
While I believe that the markets are currently standing on the edge of a cliff and will not produce a new all time high, it's very important to note that price action is yet to confirm that, with the most significant catalyst of them all being Wednesday's FOMC.
Wednesday's FOMC is important because whether the Fed hikes again and how much they hike will determine...
The PEAD projected a bullish outlook for NYSE:SCHW after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 0.6.
Banks have been flying on positive news flow, stress tests, dividends, etc. Looks like NYSE:SCHW will see a good momentum on the upside.
RSI is showing Bullish signs, price is taking support on previous resistance levels, moving average is turning upwards indicating further upward momentum.
Buy Price - 57.72
Stop Loss - 54.91
Targets - 66.47, 73.57
Note: This...
SCHW if forming a bottom
reverse head and shoulders and a breakout above the neckline with a gap
best entry at retest of resistance now support at 56 area
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 56/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
Chart wise this looks like it's bottomed - Obv in this market there are much more appealing plays than this but I'm posting to see if my view is correct.
Triggering long on the Buy setup at 54.50 with a stop below the previous days low at 53.40.
Upside targets could be sizeable if the risk on theme spills over to the smaller banks that sold off on the back of the regional banking crisis.
Fallen wedge breakout or double bottom
Broke over 50sma today
Next target 56.00 (Yellow line).
If it breaks over yellow line that would kick off the double bottom
Stop loss 51.75 (50 cents below 50sma)
Sitting right near two support levels $47 and then $45.75.
18% to reach first level of resistance and 26% to reach the second level of resistance. RSI is low 40s at this time.
At time of writing it is a day after the ex-dividend date (0.25c/share). Will look to add first at $47, then $45.75 if drop continues.
Need to research how involved they truly are in...
The PEAD projected a neutral outlook for NYSE:SCHW after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 60%.
Bullish engulfing daily candle on earnings day with high volume. Next stop is flipping the 20DMA from resistance to support. From there a run to the 50DMA (green line) for an exit would be appropriate.
AMEX:SPY - pointing lower this morning as treasury yields rose with fear arising in tech earnings. SPY looking very toppy with volume decreasing as a rising wedge builds and it reaches close to the 418 pivot high. If we stay below 413.5 - 414.5 this morning, and price action is showing signs of sellers in control (strong red bars and sequential green bars with...
