Demand Zone below Support zone Entry 47.7 Stop 46.7 Target 55 Risk management is much more important than a good entry point. I am not a PRO trader. In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Nice divergence playing out, also loving the 61.8 confluence with high volume cluster on VPVR for first trouble area (profit taking).
Bullish cross after the first 1-2 RSI overbought Next resistance is the daily EMA. Stop at $49.20
Another wedge has presented itself and it looks almost ready for some more upside. Currently between the ATH VWAP and the 8MA after the large bearish reversal on the 28th, with price action right below the POC. Demand above should present itself above both key VWAPs that have begun to move closer together. With relatively low IV, a strong move will present itself...
Ally Bank is a high quality bank with a stable price, reasonable valuation, and no upcoming catalysts in the next 30 days. Due to it's channeling price action, selling the OCT 15 48/55 short strangles, which have a breakeven of 46.48 and 56.52, seems like a free money trade. Earnings are on the 27th. Alternatively, you could sell some 2:1 put ratios for a higher...
nice consolidation faze here on ALLY, I have heard great things about this company. on watch for a shares scalp position if 53.3 can break, ill target price target 2 of 57.29 after entry. great risk reward in my opinion. goodluck traders! :) like and follow for more
Resistance 1 : 52.60 Support 1 : 49.60 Support 2 : 46.00 ALLY still unable to break strong resistance_1 : 52.60. If still unable to break, ALLY will look back Support_1 : 49.60.
Resistance 2 : 56.60 Resistance 1 : 52.60 Support 1 : 49.60 Support 2 : 46.00 ALLY still unable to break Window Gap at 52.60 - 53.60 in past 3 weeks. ALLY must break 52.60 in order continue the uptrend. If not, will look back Support_1 : 49.60.
Resistance 1 : 56.60 Support 1 : 52.60 Support 2 : 49.60 ALLY had stand above Support_2 : 49.60 and try to break Support_1 : 52.60 and Window Gap. If ALLY above to break and stand above 54.00, ALLY will continue the Uptrend like previous Uptrend happened in year 2021 until May 2021.
The 21 and 50 hourly are near to cross. If will happen, with a new high recorded as well, I will start a position.
ALLY is another stock that has been consistently making higher highs over the last 12 months, but recently had a nice deep pullback to value of around 14%. RSI shows it is at a better value area and MACD looks like bearish pressure on the price is reducing and buyers are coming back in helping the price recover. Earnings aren't too far away so buyer beware....
ALLY is an online bank that just did away with overdraft fees. It just pulled back to its 50-day EMA, and it's a great entry point on a solid company.
Resistance 1 : 56.60 Support 1 : 52.60 Support 2 : 49.60 Support 3 : 46.00 ALLY already broken Support_1 and Support_2. If ALLY can stand above Support_2 : 49.60, ALLY will continue to break Support_1 : 52.60. If cannot, ALLY will continue drop to Support_3 : 46.00
Resistance 1 : 56.60 Support 1 : 52.60 Support 2 : 49.60
Resistance 1 : 55.20 Support 1 : 52.60 Support 2 : 47.80 ALLY will continue to break previous new High 55.20
Support 1 : 50.50 Support 2 : 47.40 Support 3 : 45.30 ALLY will continue break new High. Once U - Turn, look back at Support_1 : 50.50
Pretty much has followed the same trend as all financials, especially JPM. MACD and RSI need to cool off the next weeks, but trend should hold as long as we don't break through 30 key fib level.