Short
TIME WARNER INC ON DEATH SPIRAL DUE TO #CNNBlackmail SCANDAL ?
Updated
It seems Time Warner Inc may be suffering the result of it's Turner Corporation's CNN being associated with #Fakenews and the terrible #CNNBlackmail scandal?
On the technicals, in my opinion, on the 15 Minute and 1Hourly Charts, we can see a clear swing from a strong resistance area / flip zone, after a Elliott impulse wave on the subminuette period, going SHORT through to an ABC corrective wave. The trend shows a swing to Bearish as well as a BULLISH BAT HARMONIC pattern visible, which seems to be on it's way to confirming the SHORT move.
Price action has already hit the Ketchup, Mustard and Water EMAs and the Ketchup (5EMA) is now crossing the Water (50ema).
A possible SHORT entry may be forming to take the continuation of the Bearish move until the Mayonaise EMA (200EMA) which in my opinion, the market will open on a GAP, from it's current close position at $101.51 at the time of analysis, to a lower price, possibly around the $101.40 ~ $101.20 area. It seems the Blueberry target (800 EMA) is most likely to be hit with a retracement up to the first Harmonic Target at approx. $100.93. I'm of the opinion that the second harmonic target at approx. $101.44 will Not be reached and price action will continue in a bearish trend.
TDI on the Daily, 4Hour and 1Hour charts, are also showing the beginning of a shark fin with blood approaching the water, which seems to provide a signal for a possible retracement, before the continuation of a very fast move SHORT finishing move, once blood is in the water.
In my opinion, based on the patterns as well as market sentiment (& fundamentals = eg. Incredibly Low viewer ratings and poor performance with possible repercussions to advertising revenue directly due to #CNNBlackmail scandal) that will continue to send this stock on a downwards death spiral, unless CNN management is overhauled and somehow CNN are able to miraculously salvage their already extremely poor credibility (in my opinion this is highly unlikely based on the current company culture, scandals and very poor performance). It is not the first time that a parent company suffers from a subsidiary's etc... poor performance or scandalous behaviour.
Therefore after market open, I will be looking to SHORT the hell out of this stock for absolute maximum profit (especially if there is a significant GAP on market open) with my TP in the 98.xx region or lower, should additional scandals appear to affect market sentiment. Should the Harmonic pattern be confirmed at the Blueberry 800EMA, I'll take a LONG up to the first harmonic target @ $100.93 and prepare for an additional SHORT once market behaviour confirms continued bearish trend.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or anything similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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On the technicals, in my opinion, on the 15 Minute and 1Hourly Charts, we can see a clear swing from a strong resistance area / flip zone, after a Elliott impulse wave on the subminuette period, going SHORT through to an ABC corrective wave. The trend shows a swing to Bearish as well as a BULLISH BAT HARMONIC pattern visible, which seems to be on it's way to confirming the SHORT move.
Price action has already hit the Ketchup, Mustard and Water EMAs and the Ketchup (5EMA) is now crossing the Water (50ema).
A possible SHORT entry may be forming to take the continuation of the Bearish move until the Mayonaise EMA (200EMA) which in my opinion, the market will open on a GAP, from it's current close position at $101.51 at the time of analysis, to a lower price, possibly around the $101.40 ~ $101.20 area. It seems the Blueberry target (800 EMA) is most likely to be hit with a retracement up to the first Harmonic Target at approx. $100.93. I'm of the opinion that the second harmonic target at approx. $101.44 will Not be reached and price action will continue in a bearish trend.
TDI on the Daily, 4Hour and 1Hour charts, are also showing the beginning of a shark fin with blood approaching the water, which seems to provide a signal for a possible retracement, before the continuation of a very fast move SHORT finishing move, once blood is in the water.
In my opinion, based on the patterns as well as market sentiment (& fundamentals = eg. Incredibly Low viewer ratings and poor performance with possible repercussions to advertising revenue directly due to #CNNBlackmail scandal) that will continue to send this stock on a downwards death spiral, unless CNN management is overhauled and somehow CNN are able to miraculously salvage their already extremely poor credibility (in my opinion this is highly unlikely based on the current company culture, scandals and very poor performance). It is not the first time that a parent company suffers from a subsidiary's etc... poor performance or scandalous behaviour.
Therefore after market open, I will be looking to SHORT the hell out of this stock for absolute maximum profit (especially if there is a significant GAP on market open) with my TP in the 98.xx region or lower, should additional scandals appear to affect market sentiment. Should the Harmonic pattern be confirmed at the Blueberry 800EMA, I'll take a LONG up to the first harmonic target @ $100.93 and prepare for an additional SHORT once market behaviour confirms continued bearish trend.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or anything similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Trade active
Ketchup and Mustard Crossed the Water and price action provided an entry, thus trade is active. I shall now sit on this trade long term going SHORT at least to the area as mentioned above (ie. 98.xx). I'm expecting possible/significant retracements to occur.Note
Profit is now locked in since SHORTing this beauty, just waiting for price action to reach the confirmation area to take a small LONG before another big drop, making huge profit on this :D #CNN is obviously in trouble and parent company TWX is paying for extremely bad mismanagement and #FakeNews.Note
I've decided to add another trade to this stock and take a LONG to the First Harmonic Target, as the Harmonic Bullish Bat Pattern has now been confirmed.Note
The LONG I took was stopped out, but not to worry because the SHORT I took is still active, and it looks like this stock is heading for the 98.xx region as predicted. CNN are in trouble as well as several other departments within Turner / TWX, therefore we can expect there to be more bearish trend to come :DNote
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