Pilgrim Pride Corporation (PPC): Bullish Trend
Trade Idea: Bullish View for PPC
Trend Indicators: Ichimoku (9,26,52), MACD, OBOS
Daily View Rationale
1) Breakout of Chiku Span above Chiku Span B (Daily)
Weekly View Rational
1) MACD Breakout above Signal Line (Weekly)
2) Weekly OBOS (Positive)
Key resistance (Fib Retracement)
1) 20.88
2) 23.98
3) 26.63
Entry: 18.93
Exit: 20.6 (first exit)
Risk/Reward: 1.92
Invalidate:
Trend Indicators: Ichimoku (9,26,52), MACD, OBOS
Daily View Rationale
1) Breakout of Chiku Span above Chiku Span B (Daily)
Weekly View Rational
1) MACD Breakout above Signal Line (Weekly)
2) Weekly OBOS (Positive)
Key resistance (Fib Retracement)
1) 20.88
2) 23.98
3) 26.63
Entry: 18.93
Exit: 20.6 (first exit)
Risk/Reward: 1.92
Invalidate:
Note
Invalidate: 18.06 (Trend Disproved)Trade active
Daily stock performance of PCC has been good. If we see a weekly close with a green candle then we are in for a good run till
we meet potential resistance at the levels described.
Rationale:
- MACD (Increasing divergence)
- OBOS (positive)
- Ichimoku indicating continued bullish momentum
Key resistance (Upcoming)
1) 20.88
2) 21.44
Trade active
I like to look the performance from different viewports. The price is still within the target zone. Moving stop-loss to 19.20. I expect PPC to continue its rally upwards with a target price of 23.98.
Daily: Bullish
- Tenkan Sen still acting as a support for price at 19.84
Weekly: Bullish
- Senkou Span A acting as a resistance at 20.27 area
- Chikou Span above candles
- Waiting for a Tenkan Sen to cross the Kijun Sen from below
Monthly: Bullish
- Price must close above 20.25 for the month to continue the monthly momentum
Trade active
Profit Target Reached; Trade SuccessfulStop Loss Moved to 20.60.
Next key resistance is the Monthly Senkou Span B (My mistake, I wrote it as Chiku Span) @21.45.
If we can sustain a break above this price, I would expect a rally to 23.98.
Trade closed: target reached
Stop Loss activatedTarget Hit at 20.60
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