Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 14.8/61.80%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : C
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
--Breakout from a flag with W pattern for base/support
--High volume on breakout
--Weekly chart also so show breakout on flag
--Risk: 2 weeks before ER and Fed meeting
--Consider moving stop loss up
--$SPY show strength before midterm
--See chart. Avoid choppy price action
--Gain ratio 2:1, 3:1
$ERII setting up with a really nice base in the energy space, I'm being very selctive about $XLE and energy names due to political risk and potential commodity gluts.
Cyclical trends with materials and traditional energies, putting this small cap stock in a supertrend.
Hold longer then price target, this could be a big winner.
Very constructive bull flag after 93+% rally. Looking for the stock to challenge ATHs around $16.50
Energy Recovery Inc (ERII)- MAKES ENERGY RECOVERY DEVICES FOR THE SEAWATER REVERSE OSMOSIS SEGMENT OF THE WATER DESALINATION INDUSTRY.
Action: Set Limit Order to Sell
Entry Price: 9.34
Exit Price: 8.27
Stop: 9.50
1st Target: 8.27
2nd Target: 7.47
Trade Explanation: ERRI is approaching resistant level and there's a high probability of price reversal.
Alt. if price does close above resistant level on daily chart, then expect more upside movment.
Looks like Energy Recovery has been trading in7.45 - 8.7 range for some time now so will likely retest 7.45 before moving back up to mid 8s (unless sudden rise in energy sector which it follows closely). I'm def watching for opportunity to sell loads of 7.5 puts to further average down my position but I recommend the same to anyone seeking entry bec. < 7.5...
Water is the new oil. Love the way this is shaping up. I have been long in this since last year.. Fundamentals look great.. Climate change.. Good financials.. Population growth.. Need for clean water.. Only 1 to 2 percent of all our water is usable technically.. Need to recycle other sources.. This is a market that is going to explode. The china desalination plant...
