Releasing this chart to see if the 1/3 of a triangle rule (timeframe) is accurate. Total triangle is 200 bars, while our bod is around 60 bars. We'll see.
Using Elliott Wave (very basic analysis), we're likely in wave B of the correction, with a final punch up to the 0.236 fib which correlates perfectly with our current break out of the broadening wedge. Price target of $51 by mid Feb 2020, which correlates with the 1/3 timeframe of the broadening wedge. Although, even if we believe and are confident the price will...
I predict we will hit ATH (above $87.50) by Christmas 2019, and head another 5% higher after that (PT of $92.50, then $100 by mid-march 2020). We've quite obviously been in an expanding triangle since February of 2019, and are now just breaking out of it, and will obviously fill that $83.40 gap likely this week. Looking at the broader US financial sector, we're...
This has been on watch for a long while. Its a slow mover, but seems like it's a good play right now. If my wife let me touch house money, I'd let this one be a slow burn upward. Until then, all I can do is chart flex. Target is gap fill above.
We've already blown past the fib retracement golden ratio of 65%, and our next target is 0.786. I don't have a position in this yet, but when we confirm a reversal, I'm going to take a very large position. SHORT TERM: Our next target is $21.69, and that correlates with another 15% drop in the HMMJ, which is def. going to happen to fill these gaps: Not only...
Back when this was $20, I used the Ichimoku cloud to determine it was going to hit $16. See it here: Since, them it's been steadily free falling, and we've got several more gaps to fill that will drag the rest of the sector down with it. The next gap to fill is 9.83, which I most definitely see happening. However, there's a very small gap at 9.13 which may need...
There are currently two different trading systems indicating a short term sell right now, with only one scenario indicating a risky buy. Sell #1: Ichimoku cloud on the 2D chart. The last three times this signaled a sell, the price went down 20%+. Currently, the price has only gone down about 8%. I think we're going to fall to this fib line at 1620, which...
If Gold breaks 1500/oz, we're heading to 1560. If it does, you can buy the 3x bull etf JNUG, buy it at around $62 and sell at 80, then 96. I bought some this morning at 58, but it can easily drop back down to 55 with a stoploss of 52. I've been getting into Elliott Wave recently, and it seems like this triangle is a correction wave 4 (triangle), which is the...
Cornerstone Building Brands, Inc. manufactures and markets metal products for the nonresidential construction industry in North America. I'd say this is a great play right now, but you have to buy at around 6.40-6.50, with first targets at 7.60 (that mini gap), then up again at 8.75. You can hold some to see if it goes further, but it's in IYR, which is due for...
FANG - (Nasdaq) - Short for 35%: Current Price @ 84, Price Target (PT) = 54 Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas.Oil is likely to fall this week. Great Head and...
Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets. There is bearish rsi divergence here. Price is rising as RSI is falling. Last time this happened, it corrected down below white line 200 ema. As for price action analysis, we're currently at a major resistance area. I see us bouncing off this level,...
My friend is doing a stock pick fantasy round, so I looked at a few stocks for him. MAC - (NYSE) - Short for 40%: Current Price @ 28, Price Target (PT) = 17, then PT2 of $10 for a 60% profit. A commercial real estate company that is performing badly even when Real Estate sector is at an all time high? (see it compared to IYR, the american real estate ETF).Let's...
Not a fan of this company, but it's had some good set ups in the past. It's a slow mover, and disappoints, but I think this set up seems likes not all is lost (after I jumped the gun this week and bought at the top thinking the breakout above 2.07 was imminent. Classic noob move. First target 2.18, next target 2.45, next target 2.92. Yeeesh.
TLDR = 200ema daily is around 200. It might be a good buy opportunity. However, I'd ladder in your order w/ 25% of your position at 200. Then 50% at $161 (bottom of the gap), then 25% at 135.
While this company may be a good long term investment, it is bearish in the short term. This ascending broadening wedge is bearish. The gist is that its likely going to breakdown here (unless something CRAZY happens). The white lines are broadening wedge, while the yellow line is the daily/4hr trend (which it has now just broke support), and will likely retest the...
I know nothing about this company, but my friend believes TA isn't helpful and I want to prove him wrong. So here's the chart: let's see what happens. My chat with him: "You can buy right now and know to sell if it drops below 71.50, then if it breaks 75 it's easily hitting 79, then prob 83, then maybe 86 If it break 71.50, the first support is 70, then the next...
Weekly fib retracement and extensions make this a pretty nice technical play. Highest target is 28, with coinciding fib lines at $25 (plus it's nice round number, so prob going to get some heavy resistance). I'd put in a buy at 21.80, and hope to catch it.
I've been watching gold since 1280. It was either going to continue down to 1225, or break out to 1350. (I know, I know, the classic "it could go up OR down".) However, if gold breaks out, gold ETFs could rally big, which means large positions and safe moves (XGD, in Canada, has already broken out from $12.50 and could easily hit $16.00. Also confirmed by a very...