Clear uptrend Support with a Bullish Pennant forming and price about to break-out. Target price set at a new potential resistance line. Once broken, it might have the potential for a greater run. - 5-month uptrend - RSI above 50 - STOCH approaching 50 - MACD above Signal Suggested Entry $39.35 Suggested Stop Loss $38.61 Target price $41.72 Note that I tend...
Earnings tomorrow + very bullish news. 🔥 $MPC Marathon Petroleum announces agreement for $21B sale of Speedway (thefly.com) Marathon Petroleum announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, a wholly owned, indirect subsidiary of Seven & i Holdings, whereby 7-Eleven will acquire Speedway for $21B in cash....
MACD crossing, could see this run long into earnings. Support has been touched 2 times.
Clearly, moving averages show that MPC is headed towards increased gains. However, it is having a difficult time convincingly breaking through downward short-term resistance. Moreover, oscillators at the monthly chart suggest a sell as do oscillators for the daily chart, primarily RSI and momentum. However, if you look at the comparison between other ways to...
"Refinery stocks are not ripe just yet, especially with crack spreads as weak as they are. We're already seeing three of the top four holdings in CRAK begin to roll over, including Marathon, Velaro, and Holly Frontier. Phillips 66 is the outlier. We continue to wait for CRAK to reach to range bottom with a confluence of crack spreads. If refiners continue to...
$MPC Marathon Petroleum - Headed for a close above neckline resistance. Expecting continued follow through into next week. Medium term target $95-$100 area possible by next ER late October. Note: Informational analysis, not investment advice.
I've followed a few posts of MagicPoopCannon and it's painful to read. This is probably going to be a lot of writing. In early posts, he states "past success is not indicative of future success" and HODLing is for idiots. He says BTC/LTC doesn't pay dividends and shorting is for people who want to make money. He then talks about his ego and whatnot. After...
Hello again friends, I am pleased to bring you my report after the last few days of carnage on the markets. Even the most technical trader should always be mindful of the fundamentals and check with themselves if it has an effect on the market. So as a rare treat here is a little fundamental breakdown, just my opinion. The media manipulated fudstorm really gave...
Quick update on the BTCUSD market for the short term. Some analysts will have you guys waiting till you are old and grey at unrealistic SHORT TERM targets. We can see a lot more positive fundamental news coming out this weekend and the chart is reflecting that confidence. We can see that there is a nice channel building and the RSI is ticking higher...
$MPC has an excellent long term uptrend signal at play here. If not long you should average in over 3 days at least, risking a drop to 43.42, or 3 daily average ranges down. Targets are 89.66 and potentially up to 143.09 in the long run, to be hit by or before Q4 2019. My mentor, Tim West has been adamant about $MPC's strengt, and so far he's been right. This...
PBF is tracing a downtrend, sadly, since it didn't bottom at the recent low...I had to take a loss on my recent entries, and I'll wait for it to hit the lower targets to reenter. My idea is perhaps to short put options at the target, and either get assigned, or get profit from the premium on expiry. Either way, it's a great trade if we take the long...
I'm looking to reenter PBF at support near the 27.55 mark. I've highlighted my recent trades in the chart, showing my exits and reentries. I'm adept at working like this instead of holding during corrections. I anticipate the turns based on price action around key levels, and the application of Tim West's 'self contrarian' signals that we use to time exits in good...
This stock is acting great (and similarly to $PBF and $MPC, it's a great long term play, with immediate entry parameters). If not long the stock you can look to get long on either, dips to support, price moving above the previous daily close or a new daily high. As long as it stays above the light blue box, it's highly likely accelerating to the upside, and...
Added more to my short position for this triple top in $MPC. Long put options. Way overbought. Self explanatory. Have fun.
If oil takes a significant dip overnight, I will be short MPC. I don't think there is any fundamental to support this stock to the upside anyways, so I am shorting calls. Plus I am not much of an options buyer unless to trying to hit a home run. The blue line represents options expiration day. These are 4h bars. Important to note that NOT all refiners are...
Mysterious sterling strength: 1. Sterling has managed to par losses and actually rise in past days despite a number of heavily weighted factors increasing GBP downside pressure e.g. MPC M. Weale switching to the doves, PMI/ Business Optimism 8yr lows, Sterling rates markets consistently pricing >25bps of cuts to the BOE base rate (details below), the median bank...