Loblaws looks to be forming a potential bull flag and or falling wedge.
I think the price will go a little lower tho first.
A possible swing set up could be nice at 80/82$.
Will also see if we can hit the lower band at 76/78 for a long term entry.
DYOR.
0. Notes to follow;
1. The channel data was missing from the last chart;
2.
Stay at home and bake and cook. These are trends that will endure. Simpler times, in a crazy world. The new normal if you will. As the lines in Canada get back to normal in most places and stores, the food lines continue to be long.
This shows continued demand to eat at home, coupled...
In my confession , I provided several sources where different countries reacted the same way when handling a chaotic situation like the Covid-19.
So, in chaos, there is always opportunities if you know where to look for it.
Already, groceries retailer are deemed as recession proof business. Regardless of how the economy performs, people will still need the...
Great opportunity to short at CAD$58 and target exit is CAD$54. We are hitting resistance for the 4th consecutive day. Slow stochastic and RSI are over the roof. I will be waiting for it to start reverse in the following days, and will enter the short position.
Market tried to break through a resistance twice, but was pushed back under it. I predict a bearish downtrend to the support level of 63.00. There is a small support 64.5, but I don't think it wil suffice a considerate pull back, but something to be aware of. Furthermore, trend line crosses price at 66.00, which becomes a second resistance confirmation. SMA...
Short term target low 70's possibly mid 70's before end of year. Around 200dma looks like good support. Will see if the purple channel is actually a thing
Ok I need the cash, for the next crash!
Loblaws is a stock I know well, my first and second job was there , most of my family has worked for L at one time or another.
Food retail business is solid, but there will come a time when other players will come in and shake things up. (Amazon)
The fundamentals are very good, Loblaws will shift its focus on the online...
