ALK share clearly created a Head and Shoulder Pattern at the top. As its a bearish pattern and already the price broke down this pattern, so we can expect that the price will see a huge correction.
HLT long Term Support, Fibonacci Support, Trend Support @ 33. This stock might touch the price. HLT is the most affected stock for Corona Virus. Debt to EBITDA is 4.8X . NAV -1.73. And interesting thing is price have not corrected so much yet. Ackman says he is buying this stock and I don't believe Ackman! But I am a great follower of Ackman !
To complete Elliot Wave DJI might see an another correction to 15500-16000 Level !
I applied Elliot Wave, Fibonacci and Trend Analysis on the Monthly chart of DIA. RSI of DIA was creating a negative divergence from 2018 and signaling for a huge correction ! So Market was searching a correction point and Corona Virus helped the market for that. Now question is how much correction will happen ! Here there are two reasons for correction- 1....
Here I applied both Fibonacci, Elliot Wave and Market sentiment (Corona Virus effects , Economical Crisis). I am expecting market volatility will continue up to next two weeks. In this week we may see that SPY will reverse again and start falling. It may touch to 220-225 level. Then a small bounce up to 240 level and then again it will fall and touch the recent...
S&P500 (SPX) here not only got a previous support here but also got a Fibonacci 161% ratio support. So this support is quite strong. On the other hand we are also observing a positive RSI divergence. But don't need to be too optimistic. The S&P500 (SPX) might go to 2580-2600 (around 8% upside). If S& P 500 broke 2600 level then we might see an another 150 points...
As the margin negative and Debt/EBITDA ratio is very high. So I won't be surprised if it comes to 20 level.
I think Yum will be falling until it touches 48 level.
Monthly Chart of FDX clearly broken Head and Shoulder pattern. According to this pattern long term price may come down to 38-40 level.