This is purely a speculative buy play. Looking at past price action and expecting this stock to rebound. Could be a classic case of panic which equates to overshooting the target price. Losses can be cut fast, which makes this a very favorable low risk trade with a lot of reward potential.
After running some scans, I came across this particular stock. PPL is sitting on a nice support level at the moment, and could easily start appreciating starting at this point.
Observing past price action, we can see that there is a good chance that we see price auction back up to $40. Jump in and make some money. If price continues to drive farther...
Last week I mistakenly thought that XRP was forming a pennant pattern, but after some time, price has shown more evidence of a flag pattern forming. This is still a bullish continuation pattern, but we can expect to see more lows before a breakout occurs.
I would suggest loading up when price gets close to the bottom trendline, if it can reach...
After news that cryptocurrency Ripple would escrow 55 billion coins came through, the coin started jumping upward. It is sustaining a very long bullish run and does not look like it wants to stop running just yet.
We are currently in a consolidation phase, where a pennant has formed on the chart. Once the coin breaks this pennant formation, look...
AMD has been locked in a range between $10 and $14 for 2017. We are currently resting on the bottom of the range which has acted as a strong support zone every time price trades in the area.
Trading is all about high probability setups and stacking the odds in your favor. This trade is very low risk seeing that a stop can be placed very closely to our entry,...
CenturyLink is looking more and more like a reversal after bouncing off the 13.20 area last Tuesday. There was some increased activity in the options chain for this stock as well, with a lot of calls being bought for the $14 strike price for the nearest expiring contracts.
Looking for this stock to continue on its upward trend until we get back to the...
GE stock is seeming to have found some support since falling sharply to the $17.50 area.
An ascending triangle pattern is starting to emerge on the charts now. This pattern implies that we will see a breakout to the upside, with little downside risk.
There was a false breakout this morning, as the stock traded up to the 18.60 area before auctioning back...
Diebold Nixdorf is on my watch list now. Looks like we have a failing wedge pattern forming, which signals a possible reversal looming.
Looking to buy this stock in the low $16 area. My first profit zone is $24. Second profit zone is $29.
Demand should be re-entering the market soon for the stock.
CenturyLink is down at the moment, but the stock is very oversold also. The stock is still paying a 14% dividend at the moment, so it is a good investment for passive income.
Stock has a Beta value of .86, which means it isn't as volatile as the market.
Look for the stock to start auctioning back at the $24 mark. If the trend grows in strength, we...
Looking at the daily chart, we can see that the head and shoulders pattern is still in play. I spotted a downward channel forming, which suggest that we should see a move downward soon. Further confirmation comes at the hand of the major sell off tail we see on the daily chart. Clearly we see some aggressive sellers in the market and they are making the price stay...
Looks like the FOREXCOM:USDJPY is about to take a turn to the downside. First, we are in an area of strong resistance. Secondly, I am observing a possible rising wedge pattern forming, which predicts a reversal is soon to happen. If the pair does start trading lower, look to buy back at the bottom of the range in the 108.50 area. Good luck trading!
We are looking at a breakout of the flag pattern that was forming on the EUR/USD pair. This coincides with the overall Head & Shoulders pattern that we can see on the Daily chart. Look for this pair to get to the 1.1450 area before finding some support. USD will continue to gain strength, in my opinion, up until we raise rates expected in December.
Expecting this pair to retrace for a short period of time until it gets back into the 1.1730 area, where I am expecting the pair to then turnaround and continue its downward path, keeping the head and shoulders pattern on the daily still in play. Retail sentiment is also ripe for a short term long position as well. Be aware of heavy USD news this week with FOMC on...
Looking to take a short position on this pair once it gets inside the orange rectangle. From previous structure, we should start seeing a stronger Yen pretty soon, especially with the geopolitical risk in the US. We may be looking at an overall H&S pattern forming, so trade accordingly.
After looking at the long term trend of the EUR/USD on the daily and weekly, it has become apparent that a possible head and shoulder pattern could be forming now. If this is the case, I am expecting the pair to test the 1.1890 area and completing the right shoulder, before reversing back down. We can then Initiate the Short trade and ride this thing down for some...
The upward trendline is still being respected by price after the USD surged for a moment on the back of strong Core CPI numbers this morning and strong PPI numbers yesterday. There are still geopolitical risk in sight for the US at the moment, so expect the AUD to appreciate back above .80 and maybe even retesting the .81 handle before retracing.
After observing some nice upward momentum in the pair, it looks like we could start trading a little lower, as the pair hated to be above 1.20. With the break of the trend line we were tracking after the bull flag pattern appeared, the pair may trade back down into the 1.1800 area before potentially heading lower. We will look to see if 1.18 will hold as support,...