The amount of Building permits giving by the U.S government for the month of April is release tomorrow 5/18. That info could be the catalyst if good to help the bull flag breakout. If it does breakout 30 is the target. if there is a rejection , a trip back to the trendline around 24$ is in store
Stop @ 22, the uptrend remains strong Pullbacks is still possible. Target 34
Morgan Stanley analyst Carlos de Alba upgraded X to Buy from Hold in a Monday report, raising his target for the stock price to $32 a share from $24.
Technical analysis is just Astrology for traders .. Good Luck
sucker is overbought, ready to fall, let's be honest nobody wants to be in this name forever, conviction is weak, not even the largest producer in the U.S., this thing is just a trade ...and that trade is about to unwind for this time wave...
no position yet, rolling into a 126 May 28 PUT if it catches a bid tomorrow
Much loved and very rewarding stock to trade in 2020/21 and with President Bidens push for huge infrastructure spending it will surely be a winner long term,
but as earnings are today how do we play it. ?
The stock has traded very technically and we could say is within a large Pennant formation right now , we have clear downtrend resistance and uptrend...
Technical Confirmation: Strong reversal on X Daily chart provided technical confirmation that we are heading back up.
Execution: 22/21 put spread for this weeks expiry. 10% RoR (return on Risk)
Posted this after entering trade.
On the 15 min chart, IMO, X seems to have found its support right along that 21.18 level. The TTM indicator is Squeezing suggesting that volatility is preparing to make an aggressive move to either the upside of downside. The previous high was just recently tested, although price was rejected, price still maintains a bullish trend. The stochastic still has room...
