1COV • Covestro AG • XETRA LONG TF H1#1COV • Covestro AG • XETRA LONG TF H1,
TP = 51.31 , SL = 45.70
The trend continues, the nearest support level according to my calculations TP = 51.31
11COV trade ideas
1COV added to model portfolioCovestro has just been added as a 12.5% position to our model portfolio.
Some comments:
1. 7/8 qualifiers of Minervini's trend template are met and the stock is in a confirmed phase 2 uptrend.
2. Stochastic RSI are indicating an entry coming our of an oversold position.
3. This is a pullback entry following a healthy pullback over the last 2 weeks under low volume which allows for a low risk entry.
4. Relative strength of 1COV as measured against the SP500 is very high which makes that a momentum trade.
Here is the link to our updated model portfolio:
www.tradingview.com
Covestro (1COV) bullishCorrection seem over and wave 2 finalized
Now wave 3 of (3) seems to have started
Bullish till end of 2022 according to this analysis
The game is not over for covestroFriday bear run looks scary but I am optimistic about the paper and I would like to see the break of the ceiling. No targets since the bigger picture is set for something significant.
Buy Now CovestroAll my EMA´s are about to break through. So there will be a chance to take profits.
Bye
Covestro A.G. - interesting levels to watchCovestro AG is a German company which produces a variety of polyurethane and polycarbonate based raw materials. Price is at an interesting juntion. Since the recovery of price from pandemic levels, the price has rocketed up. Along the way, price has touched/breached the 50-day MA - four times so far, including now (since march 15). The RSI is 45.10. If price can push above the 50-day MA (ca. > 58), then bullish scenario should be intact, and price continue to retest recent high of ca. 62 - 63, then 67-68. If 58 is not regained, then the next level would be around 51. Keen to know what others think. Please leave a comment or link to your own ideas! Charts are for information purposes only. Not trade suggestions. DYOR (Do your own research) - act responsibly with your money.
1COV (DAX) - EW analysis - C impulse up 1COV - It is in ABC zigzag up cycle from major low in 2 hr time frame. The 4th of C wave is about to start moving down as correction and one more up cycle is due to finish the whole sequence.
Give thumbs up if you really like the trade idea/analysis.
Covestro AG (1COV - Xetra) - Choppy to bearish price actionCovestro AG (1COV - Xetra) is in ABC zigzag move down in 2 hr time frame. Where wave A impulse and B complex corrective wave as wxy were over. 1st wave of C wave down was also over and price is in 2nd wave correction as abc in progress. Wait for c of 2nd wave to over to sell it down for big C wave with stop loss of 36.28 level. In weekly time frame it is in huge down trend.
Waiting for a breakthroughIf it brakes one of the lines it is possible to reach 35.5 or move back down.
LONG 1COV (Covestro)Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
LONG 1COV (COVESTRO)Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
1COV - underside support line from former breakoutAfter this relatively big earnings sell off I am expecting a bounce from the {purple} support line, that has held well since the breakout from the falling channel a couple of months ago. Today (02.05.19) we breached this support line on the close, nonetheless I still think it will respect this underside resistance (at least short term). Compared to competitors the P/E ratio is very low at the moment, wich further supports my thesis of a short term bounce - if investors get their minds together.
Covestro broke out of downtrend and likely to continue up! 1COVIt successfully broke out of the downtrend and tries to push higher. For a parabolic move higher we need to break the red line above. Key support is the purple trend line. Be careful backtest of the upper line of the downtrend likely if it breaks (purple) support or bad news! Have a great DAY and GAINS
