The 76 correction strategy aims to pick up optimal continuation trades into large retracements.
It's a trend following strategy that aims to enter into strong counter trend moves to a 76% retracement of the previous trend leg.
This strategy usually performs best when combined with Elliot wave. Waiting for there to be a full impulsive leg in 5 waves followed by a...
This strategy is intended to be a method to help to differentiate a pullback from reversal.
Here we're using the butterfly pattern which is a continuation pattern, but the failure of this continuation pattern can mean the failure of the trend.
It's a very useful signal that can be used on all time frames. You can find great examples of this before crashes...
The butterfly can appear as a corrective pattern in a trend.
When it does, it's a two leg correction. The second leg is a false breakout of the first.
Being a harmonic, the final leg (D leg) is always the strongest.
When the butterfly serves as a corrective pattern, strong follow through can come.
In the times this works, we usually see the next swing...
Harmonics are a very useful tool for gaining insight into possible reversal levels after strong trends.
"M" shapes are often found at the bottom of trends and "W" shapes at the top. Most often these fit into the rules of the butterfly reversal.
A defining characteristic of the butterfly is the final leg (D leg) is always a very strong leg.
It's a strong and...
The 1.61 head fake strategy is intended to give early signals of where a high/low might be and be an early tell on the potential turn of the trend.
This strategy can be used for both pullbacks and reversals.
When traded as a correction, this strategy usually is successful in the forecasting and trading of the end of Elliot wave 5 heading into the ABC....
- Price has bounced back from strong support
- Respecting the trendline
- DOW theory intact
- No current diversion
EP: 220.31 (CMP)
SL: 208.68
TP1: 231.94
TP2: 243.57
TP3: 255.20
If you haven`t bought the dip here:
Then analyzing the options chain and the chart patterns of LOW Lowe's Companies prior to the earnings report this week,
I would consider purchasing the 230usd strike price Calls with
an expiration date of 2024-4-19,
for a premium of approximately $11.15.
If these options prove to be profitable prior to the earnings release, I...
The last earnings report on October 31 showed earnings per share of $3.27, beating the estimate of $3.02. P/B Ratio (0.000) is normal, around the industry mean (8.869). P/E Ratio (17.834) is within average values for comparable stocks, (28.574). Projected Growth (PEG Ratio) (3.190) is also within normal values, averaging (2.899). Dividend Yield (0.019) settles...
NYSE:LOW has been on a tear since its Oct 27 low. The volume of buying during December 13, 14 and 15th is amazing. We now have a nice 8-day consolidation going that has formed a bullish pennant. In addition, today is shaping up to be an inside day. I do not know which way this will break but I did put on a one-third size position today with a stop just below the...
NYSE:LOW current movement is similar to what we see across the consumer discretionary sector. It has also been consolidating in a long term symmetrical triangle.
There are three supporting areas that I've kept an eye on:
The 12/13/23 gap (215). Price fell through this level yesterday.
The variable weighted average price anchored to the 11/2/23 breakout...
Retesting the S/R zone and upwards channel after breaking above. Expecting upside momentum to continue backed by positive analyst expectations. Watch out for US jobless claims in 7 mins.
Over the last 1 year, LOW has beaten estimates 100% of the time and has beaten revenue estimates 75% of the time.
Retailers might see their demand softening as consumers could tighten their purse strings as economists expect a slowdown ahead in the backdrop of higher-for-longer interest rates.
The market is growing too negative about the housing DIY market, and...
📶 S T A T I S T I C A L A N A L Y S I S
Current 50-Day Market Trend: short/sellers/negative.
Next Swing: neutral swing of volatility.
Next Wave: sell wave to the range.
Next 50-Day Market Trend: long/buyers/positive.
Trade Type: Touch & Go don't wait for a close.
💵 E A R N I N G S A T A G L A N C E
Market Capitalization: 117.558B
Release Date:...
If you haven`t sold LOW ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of RUM Rumble prior to the earnings report this week,
I would consider purchasing the 210usd strike price Calls with
an expiration date of 2023-12-15,
for a premium of approximately $3.70.
If these options prove to be profitable prior to the earnings...
As you see here on Lowes, we are entering a demand zone. I will be looking to see how the heikin ashi candlesticks react to this level. I will also look for a bounce with high volume to validate my entry. Thank you as always for checking out my analysis.
Hi guys,
In case of big stock crash this would be a nice target for buying lowes.
That would be approx 50% down from ATH
Not financial advice
Maybe just a dream :)
Lowes (LOW) is currently touching the 200 Weekly MA and is likely to see a bounce from this level, regardless of whether it breaks down later on.
Breakdown likely to hit trendline highlighted on chart.
Exit price for bounce would be around $215.
