Putting Elliott Wave Theory To Work. I have made the first of six trades today with three planned positions over the next 3 months. After breaking down the KSS chart at a technical level, I have forecasted 3 rough price points (68.42, 61.22, 75.62).
PLAN #1
Entered first position at 63.37 on January 12
Plan to exit around 68.42 around January 18
This would be...
KSS is a wait and see but it should run a lot once it decides which way it will go. I am starting a video log of my trades so you can see my first one here: youtu.be
Journal Entry: I have drawn a rising wedge and various lines of supply, demand, support, and resistance. I am targeting price to move lower to at least the first Fibonacci line. I am noting the bullish wave was created on declining overall volume and the bearish pressure is building on increasing relative volume. That's all the time I have tonight folks. Thank...
Broadline Retailers are strong.
Several companies in the peer group of Kohl's (like Macy's - M) are at Pendulum Low and showing signs of stabilization.
Between M and KSS, KSS has stronger fundamentals.
Kohl is at Pendulum Low - a low enough price to start looking for Long Term Buy in good companies.
Kohl has a recognizable and positive brand name.
The risk is...
Well, ask me in about 2 weeks and I will give you a certain answer.
Price pushed out of range this morning after 3 decent size days of selling. Got back within the lower limit of the 30 Linear Regression channel.
Buyer's showed up. Got in at $37.05.
Not a bad company, making money but members of the retail group are not too popular these days.
I'm sure everyone that can maintain a body temp of around 96 degrees, understands that Kohls has been a failing company for the last 2 years. For the short term traders, I have setup a very simple but concise support/resistance chart. As you can see it's prone to fall, as the resistance barricades the stock 4 times in one week interval. There are 8 highly...
Same story as Macy's:
- Disappointing Christmas sales
- Disappointing, revised guidance
- Double broker downgrade
Stock indicated down 15%
Wide gap (46-49) to be bridged
Volatility should spike accordingly
Opportunity to sell 10% OTM puts on the 20 Jan maturity
I think we have good odds here. Risking a drop to 34.57 is conservative, you could also wager on price not going under 39.50 but I'd rather have more margin of error initially. I'm long from higher and doubled my position here since I think it's a low risk spot for the post earnings momentum to end.
Within the next 3-5 days we should see price move higher. The...
I'm watching $KSS here, I'd like to buy as close to support as possible. There's an interesting time/price juncture below, where the bottom of the uptrend's linear regression channel meets both the Key Earnings Level, as well as the uptrend speedline support, making it an ideal spot to buy.
This also happens to coincide with a potential bearish range expansion...
In this chart I describe the trading signals generated by Tim West's techniques, in particular the methods revolving around the RgMov and Key Earnings Support indicators. You can see signals that failed are very few, and the trade setups obtained in one year have been really precise if executed correctly.
If you're interested in learning the specifics of this...
KSS had a great season with good growth.
Improved retail spending is sending revenue streams higher.
First target is anywhere over $50.
Final target if $50 breaks is $60 for 2016.
I've posted on Kohls before and was able to catch both the back and forth waves in KSS shares and the breakout move to the high this year. Now we are being presented with an opportunity in disguise. The problem is the price is down sharply from the peak and retail has been suffering lately with Walmart getting slammed and Amazon growing its reach with online...
