-approach to are ATH
-growing company
-large volume
-up trend
-signal above $80 for ath confirmation
-psychological target at $100
-probable profit = 26%
-several possible scenarios:
1.crosses his ATH
2.correction to the trend for a subsequent rebound
3.corection to the support and remains in a sideways movement
BJ’s Wholesale Club (NYSE: NYSE:BJ ) faced scrutiny as it reported its Q4 FY2023 earnings, revealing revenue figures below analysts' estimates. Despite an 8.7% year-on-year revenue increase to $5.36 billion, the membership-only discount retailer failed to meet Wall Street's expectations, prompting questions about its future prospects.
Key Highlights of NYSE:BJ...
BJ continues overall uptrend with favorable PE discount when compared to COST. This channel has mostly maintained. An options setup in January for 75-80$ calls is a strong potential here as the next time the stock jumps above the channel the price target could be hit. RSI has a ways to go before hitting the usual historical top for BJ as well sitting at a modest...
#NAILEDIT. This one came easy. It's good practice. Let's see what happens from here, but I will be waiting for a close below support and then short it. ;-)
Notes:
* Strong up trend on the higher time frames
* Great earnings track record
* Basing for the past ~3 months
* Forming a cup and handle with the base ~14% deep and a flat handle
* Formed a bullish engulfing candle a couple of days ago
* Now it's flashing an early entry along with a pocket pivot
Technicals:
Sector: Consumer Defensive - Discount...
This was looking like a bearish Crab, but for now price has stopped short of the 1.618 which is where the last leg of the Crab should land.
I have been seeing many Ws that are ending at the 1.414 so I added it to my fib table.
I do not know if it will stop here and have searched for the name of the pattern without success.
This could proceed to the 1.618 but the...
We can get a 7%+ rally from here going to the upside. When the stock market is no longer bullish, this will be a nice stock to short/Put option, but for now I am still bullish until 7%+.
(This is not financial advice, only my opinion.)
Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Forming a double bottom base for the past ~8months
* It seems like this recent gap down may be forming a handle to the double bottom base
* It needs to hold above $66.35 as support in order to stay bullish
Technicals:
Sector: Consumer Defensive - Discount Stores
Relative Strength...
For the shorts, more trade ideas on stocks that are still early in phase 4 downtrend IMO.
BJ - see more downside, although would like a retest of breakdown for another opportunity however we may not get one, started short small size, looking for $48 zone to cover
WHR - Better setup IMO, broke down then retest and rejected. Looking for $154 zone to cover
Earnings watch 5/19:
GOGL
LSPD
GOOS
ROST
AMAT
DECK
BJ
PANW
KSS
PLCE
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt...
Scan Criteria
Does this stock meet my 8 point scan criteria? Yes
Structural Checklist
1. Can one my proven price patterns be identified? Yes, a Low Cheat
2. Is the 50D SMA trending up? Yes
3. Has price moved >20% since its last consolidation? Yes
4. Is the weekly RS above its Zero Line? Yes
5. Does price action suggest the stock is consolidating / digesting the...
Wholesale and membership models have really stood the test of time as we've seen with $COST reaching new all time highs. The Fed doesn't seem too concerned with inflation which could be giving the green light to some of the strong inflation players once again. Wheat threatens a breakout at the time of writing. Good luck traders!
