NYSE:PFSI is trading in a tight ascending triangle and was holding very well in the past few weeks when the market pulled back. The stock is about break out higher, any increase in volume will be very good sign. The stock should target 90$, stop daily close below 61.5$.
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This is only my own view and not...
On the back of rising financials this looks like the Phase D of the Wychkoffian Accumulation. I am looking for a consolidation at the resistance before a take off.
Fundamentally this makes sense on the backs off rising rates and financial sector build up.
Looks about ready to break the 52w high ($70.00).
Trade for that upswing and exit when rally slows, it will likely come back for a test of the broken resistance.
As mortgage brokers PennyMac has been benefiting from the strong USA housing resurgence. Existing home sales rose by 10.5% y-o-y to a seasonally adjusted annual rate of 6 million units in August 2020, according to the National Association of Realtors (NAR). Likewise, new homes sold soared 43.2% y-o-y to a seasonally-adjusted annual rate of 1,011,000 units in...
One of my favorite stocks for naked calls.
Looking at the entry point today, its difficult to fight the urge to take a long position.
I avoid options near earnings.
This is a strong stock - road out September slump like a champ, where other stocks fell out of their channels
I have dipped into this stock a few times for short call option gains.
Thinking of taking a chance on a this one again. I always buy with 3 months of runway on calls and willing to sell within days if I make the goal.
$PFSI has just broken from a rounding formation
Neckline stands at 56 so it has to hold above that
MACD cross up on above 20MA VolAvg day
Potential target around 64
Good luck,
TA
Stoch moving in the correct direction.
MACD - oscillators headed down
Cinching in the histo
ATR going down
This thing loves the 20 EMA
Would love to hit my 50% on the call option on 8/31, but may need to hold a little longer.
