Based on its uptrend, rebound from support and a familiar chart pattern confirmed by my technical indicators, I expect at least half a percent of profits IF $PM exceeds today's high of $100.64 during tomorrow's session.
The PEAD projected a Bullish outlook for $PM after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 80%.
decent setup here with earnings in sight for a bullish play. Chart looks good and is building a base, with earnings as the fuel for the next leg higher. Even better if played with options, some lotto play.
ABOUT:
This is part of my trading journal, please don't copy anything always do your own due-diligence.
PM swingtrade
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Open: 99.55
TP: 125
SL: none
Journal Entry
Bias: Negative.
Sentiment: Pessimistic.
Emoji (emotion): Excited 🙃.
Null Hypothesis: Sell.
Alternative Hypothesis: Buy.
Signals: ...
Position: Short term day trade.
Notes: ...
Barron's Company Overview: www.barrons.com .
Other: ...
Tutorial: (Q/A) What exactly is the box labeled tolerance? The box labeled tolerance is a defined range of...
The PEAD projected a Bullish outlook for $PM after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 77.78%.
Immediate targets 93, 90, 85.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the...
Possibility to reach the 116 to 125 level, creating double top and that is the 127.20% to 141.40% Fibonacci XA, before drop down.
If failed to break the current resistance, that would be only the 127.20% Fibonacci of AB, then drop down
Watching this creating Harmonic Cypher Pattern.
pm at a strong resistance area, if it fails to break above look for a dip to trend support (90-100 area)
If somehow it breaks its strong resistance levels then we can target 140.04-168.05
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Hedgies and large money are flowing back into boomer stocks like NYSE:PM for "value" in times of inflation. Take your favorite boomer stock that your parents and grandparents have been talking about since you were a kid then divide that by GME or other stonks. You'll be surprised they've been out performing since Thanksgiving.
Demand Zone below support line
Entry 87.7
Stop 85
Target 98
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
This analysis is through a 1yr timeframe so keep that in mind when considering your trade timeframe. MACD signaling a bullish cross should lead to strong price appreciation in PM in the short term. If PM is able to pass above the channel resistance line (red trend line) then I expect to see a large break to the upside. If it does not reach and or break above the...
