The current chart of NYSE:BBT is technically setup for a major breakout and as earnings approach next week, the catalyst is strong. Some of the major banks report prior to BB&T next week so the break could come as soon as Monday, the downside is if they big banks earnings are below par the break could be to the downside. On the chart our bullish trade is shown...
The stock was mentioned by Simplywall.st as undervalued with high growth potential. Indeed looking at D and W charts I see a triangle and on M chart I see that indicators may be indicating trend continuation.
Risk: 0,17% of the deposit
Company exposure: 3,8%
Trade horizon: 1-2 years
Exit strategy: 50% when reaching 50% of TP and watch further PA
BBT is approaching our first support at 41.94 (horizontal overlap support, 100% fibonacci extension, 38.2% fiboancci retracment) where a strong bounce might occur above this level pushing price up to our major resistance at 46.31 (horizontal pullback resistance, 100% fibonacci extension, 38.2% fibonacci retracement).
Stochastic (21,5,3) is also approaching...
Before the trade
Write sometning about your psyhology thinking before trade? it is a little disapointmet day because two trade went south
Describe the trade. What you see? after a trialnle brake this will be the pullback and then price will continue to fall
After the trade
I manage the trade in the right way
BB&T (Branch Banking and Trust) is one of the largest financial services holding companies in the U.S. with $219.3 billion in assets and market capitalization of $38.1 billion (as of December 31, 2016). Based in Winston-Salem, N.C., the company operates 2,196 financial centers in 15 states and Washington, D.C., and offers a range of consumer and commercial...