Cineworld: A sad ending to this film Cineworld Group
Short Term - We look to Sell a break of 25.37 (stop at 28.52)
Trades with a bearish descending triangle formation. A move through 25.50 will confirm the bearish momentum. The bias is still for lower levels and we look for any gains to be limited. Trading has been mixed and volatile.
Our profit targets will be 17.68 and 15.10
Resistance: 26.00 / 27.00 / 40.00
Support: 20.00 / 15.00 / 10.00
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Cineworld
CINE - Cineworld due for a bounce from these levelsI've been accumulating this stock since the 60s slowly and now I believe it's at the point where it is due for a good bounce.
It has just broken SMA100 level which was acting as resistance previously.
Currently, SP is trading above SMA 10, SMA20 , SMA50 and SMA100
MACD indicator going positive
Money flow going green too.
Also, momentum has gone above 10
All these indicators are extremely bullish and overall it's breaking out of a falling wedge pattern.
From a Financial perspective - Cine World had 698million profits which dropped to -529million GBP in 2020 pandemic levels.
I am anticipating a good recovery towards the Christmas run-up as there is a backlog of many movies which were not released during the pandemic which should help reduce financial losses of 2020 as economic activity opens up and people start going to cinemas more.
The support level which needs to be held is SMA100 which was previously acting as resistance @ 75.20
The next resistance which was rejected today is @ 80.49
Bullish stocks Like CineFor more detailed professional analysis, please go ahead and subscribe/Follow.
Here we have our great CINE chart.
This stock has made me a lot of $$$$ and it is great for a buy currently.
Notice the big candle now forming and 10% gains on the day. There are now buyers lining to get some of the stock. When this happens the prices goes UP.
A huge company with very very strong prospects, mixed with great technical chart elements.
CINE Long swing tradeGLHF Spot hold. Months of accumulation, an industry now beginning to reignite with 90$m opening weekends see's a return to pre covid levels. Great lineup for remainder of 2021 including some large marvel drops. Chart behaving in a textbook S/D manner moving from level to level. Current risks are the ongoing court case with Cineplex.
Cineworld looks a tempting shortLSE:CINE
Price over the last 2 days looks like it is presenting a selling climax, volume has been much higher than the last couple of weeks.
The shorter price body from todays trading, with an upper rejection wick and with almost the same amount of volume as yesterday looks like it has clearly identified some strong selling at this level.
Looks weak ahead.
Cineworld Regal Theaters (CINE.L) (CNNWF) double bottom ReversalCineworld has been selling down for some time and is now retesting the top of the previous cup and handle. A double bottom reverse has been detected. We see a rise in price over the next 90 days as theater chain and overall economic outlook improves.
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Cineworld Group is a British cinema company based in London, England. It is the world's second-largest cinema chain, with 9,518 screens across 790 sites in 10 countries: Bulgaria, Czech Republic, Hungary, Ireland, Israel, Poland, Romania, Slovakia, United Kingdom and the United States
really interesting time for cineworldover the weekend cineworld announced closure of i believe all 158 of its cinemas here in the U.K. so this is no doubt bringing volatility to this stock come london session, the question is what way will the stock go. you may say silly question, but the market can induce. maybe wait for breakout of consolidation. we also have a cross of the handy rvi which signals a daily sell off.
Cineworld - 5% on the sell and 5% on the BUYA big move today for Cineworld.
I checked lse.co.uk this morning and saw the daily % gain, guess what - our strategy had already signalled the buy.
This is a very powerful tool for investing or cfd trading stocks too.
Regards
Darren
Cineworld Sell in play!Cineworld continues to move lower, sell trade identified with the strategy - take a look.
Regards
Darren
Uptrend For SureHi, I think Cineworld will go above 1.50 before June 28th as Cinemas will be opening on 1st of July. This is a stock to watch as it will be very volatile in the next couple of weeks due to ongoing problems in the real world.
CINE 1D DESCENDING TRIANGLE SHORT TRADEDescending Triangles, Triangles, Ascending Triangle and Ranges are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Cineworld group longRenko showing us some nice price action around the kumo, and giving us an opportunity to long on the swing break.
- We've got a Kumo breakout
- And and OBV that looks like it has bottomed out.
You could trade this 2 ways:
- A stopbuy order above the wick on the left Heikin ashi chart.
- A market long once a renko brick prints above the last local swing high.
Happy trading.