SCHW looking bullish short term with all the positive news going on but they are about to hit into some resistance.
time to strangle $3 move either directions($47 calls and $41 puts - two months out) and watch it play out.
Using Elliott Wave (very basic analysis), we're likely in wave B of the correction, with a final punch up to the 0.236 fib which correlates perfectly with our current break out of the broadening wedge. Price target of $51 by mid Feb 2020, which correlates with the 1/3 timeframe of the broadening wedge.
Although, even if we believe and are confident the price will...
Alert set for break above $44 from which point a long entry may be a good option given the length of the downtrend in which the stock has been in.
The break above the 200MA is very bullish and the continued support from the 7&12 ma's encouraging.
No need to rush into this stock it has a lot of room to the upside.
P/E 16.10. Very reasonable.
The Charles Schwab...
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
SCHW broke negatively from a symmetric triangle to finish the 5th wave of the A wave. I am targeting the $35 region because it is confluent between a major resistance zone , the .5 fibonacci retracment level, the 1-1 extension from the 3 eave, and the-.236 retracment from the 3 wave. Target is the entire B wave.
Charles Schwab has gained considerable market share by challenging industry pricing standards. The launch of innovative products and services is expected to continue growth as cost conscious investors become more and more aware of their investment profits disappearing in fees. We are bias on the long side on SCHW despite the considerable fall in price from last...
Charles Schwab (SCHW)
Entering Mark Down Phase
Distribution Phase Observations:
-Upthrust (Failure to mark Up)
- Uptrend Line Broken
- Sign of Weakness (Fall Thru Ice)
- RS Negative
- FFI Negative
1st Target: US$42.96
Comments:
Trading risk will be reduced, if entry when price makes an LPSY to retest previous Ice (support-turn-resistance zone)
Risk:
A break...
Charles Schwab is Long. P/E is at 25.21. Currently at major support and turning up. ADX is low and turning up. DI Plus indicators (Plus and Minus) are crossing. DIMinus is going down and and DIPlus is headed up. Good buy.
So, this isn't the most respectable / reliable type of long chart setup, but in a market where everyone's selling - definitely, a good mid-longer term type of play without as much volatility for directional movement. The weakness in trend is easy to spot, so not only was it difficult to kind of gauge the realistic probability of what I expect the outcome to be...
