A monthly TTM squeeze just fired on AMP, which has been in a continued uptrend despite missing their last 2 earnings expectations. With the uptrend strength, we probably won't get a pullback to the layered AVWAP. But, if it can come back to the 50-day EMA (a 5% pullback), I'll jump in and go long.
Analysis:
Ameriprise Financial (AMP) reported strong Q4 2023 earnings results on January 25th, beating expectations. Revenues were up 12% year-over-year, driven by growth in their Advice & Wealth Management segment.
The stock price has been trending upwards over the past year, gaining over 50% to current levels around $393. Recently announced dividend of $1.35 and...
Similar channels can be seen
If you allow a rising bars pattern and assume bullishness another W can be seen to form (you might have to tilt head slightly to see it)
The first W is a lot clearer.
Simply suggesting bullish continuation with these channels.
The PEAD projected a Bullish outlook for $AMP after a Positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 63.64%.
AMP - I've continued to work on my screens, with new developments in recent weeks. This is one of many setups that I'm seeing.
Idea: Buy between $311-317
Current: $321.35
Stop: $302.55
Target: $355
This stock was in my video from Sunday ... it is a great example of what we are looking for ... look at this clean break of the top of the VCP and holding nicely. However ... given the overall market situation - if you caught it ... maybe it is good to pocket the profits and move on ... it is a tricky market we are experiencing now.
* Strong earnings quarter over quarter
* Expected to do better in the coming year
* Strong up trend
* Broke out of 5 month consolidation
* Retested broken level as support with higher than average volume (33.98%)
* Pays out dividends with a Payout ratio of 47.40% which means the company has a lot more room to grow and possibly increase dividends
* Minimum...
Here I'd like to share my favourite entry method.
The chart is self explanatory.
Let me know if you have any questions ....
This will happen during Wave 3 and Wave 5 (for those who subscribe to the Elliott Wave theory)
This pattern is sometimes called the Retrace, the Dip, the Pullback, the ABC correction, the ZigZag. The BOMB (by guerilla guys)
There appears to be a possible wu-tang formation to the upside
Fun Fact: Did you know that in the late 90's wu-tang mentioned an American Express Financial Advisors (AEFA which later became Ameriprise) mutual fund in one of their hit songs?
The fund was called AXP New Dimensions. I believe it eventually went down in flames due to consisting of junk...
First stock of my bi-weekly review. Able to wake up at a decent time actually... feeling at peace with no markets to look at today, and I have all weekend to make adjustments to my flight plan. Finally realizing I have made one of the more difficult career choices. Up to me to make the payout worth it so let's have at it, time to squeeze the brain and see what...
