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Consolidation-breakout

ITW finally ready to move higher?Note: I've mentioned this stock a couple of times before but both times it pulled back to an expected level due to the market conditions at the time. * Excellent earnings * Very strong up trend * High 3-month relative strength of 2.61 in the Industrial sector * Breaking out of a ~9 month base with higher than average volume * Tried to break out a couple of times before but failed due to market conditions at the time * Now breaking out again with higher than average volume * The recent price action did make a double bottom and the price has confirmed a break of the double bottom as well. Trade Idea: * Now's a great time to enter as the price is just breaking out and is close to the broken level * If you're looking for a better entry you can look for a buying opportunity near the $242.52 area
NYSE:ITWLong
by HaseebKhan_90
MMC looking to make new highs!Note: I last spoke about MMC around mid October and since then it has consolidated and now it's showing signs of going higher. * Excellent earnings * Very strong up trend * Very high 3-mont relative strength of 6.87 in the Financial sector * Breaking out of a ~2 month base with higher than average volume * We can see that it tried to break above earlier but came back down due to the market volatility * It's also showing healthy signs for a continuation on the weekly chart Trade Idea: * If a little volatility doesn't bother you, now's a great time to enter as the price is still close to the broken level. * Moving forward, $171.13 should serve as support so if you're looking for a slight discount you can look for an entry around that area.
NYSE:MMCLong
by HaseebKhan_90
1
SSNC is one to keep an eye on!* Excellent earnings and accelerating * Very strong up trend since inception * High 3-month relative strength in the Tech sector * Breaking out of a ~5 month base creating a cup and handle pattern * Depth of the cup is ~15.5% * Breaking out with higher than 15 day average volume Trade Idea: * Given the current market conditions you can open a small position with a hard stop. * Also, given the market conditions, I wouldn't be surprised if this comes down to $78.55 area * If you're not entering now, this stock is one to keep on your watchlist for when you do decide to jump in.
NASDAQ:SSNCLong
by HaseebKhan_90
ITW looking to reach new hights?* Amazing earnings year-over-year * Very strong up trend * High 3-month relative strength of 4.05 in the Industrial sector * Pays out dividends * Breaking out of a ~9 month base with slightly higher than average volume * I mentioned it was breaking out mid November but due to the market conditions it had a slight pull back to the $232.47 area * It has since regained the lost ground and is making new highs again Trade Idea: * If you can stomach a little volatility, now's a great time to enter as the price is just breaking above previous highs. * It's offering a great risk/reward ratio * If you're looking for a discount you can do a couple of things 1) You can look for an entry near the $243.47 area as it should serve as support moving forward 2) You can wait a bit more and look for a buying opportunity near the $239.46 area since it would be a stronger level of support and can expect a bounce from there. Note: * When looking for buying opportunities at the lower levels you want to wait for a bounce from the mentioned levels before entering.
NYSE:ITWLong
by HaseebKhan_90
NSA breaking out of a flat base!* Good earnings * Very Strong up trend * High 3-month relative strength in the Real Estate sector * Breaking out of a flat base of roughly 6 weeks with higher than average volume * Pays out dividends quite generously since it's a REIT Trade Idea: * Now's a great time to enter as the price is just breaking out and is very close to the broken resistance. * The REITs sector is also doing pretty well at the moment * If you're looking for a discount you can look for a buying opportunity near the $62.50 to $63.30 area Caution: * A daily close below $62.50 would negate the idea
NYSE:NSALong
by HaseebKhan_90
DHI looking to make new all time highs?* Great earnings * Very strong up trend * High 3-month relative strength in the Consumer Cyclical sector * Breaking out of a ~9 month base with higher than average volume * Showed incredible strength over the past couple of months while the market was facing uncertain times. * Max probable ROI is 28.57% Trade Idea: * If you can tolerate some volatility, now's a great time to enter. * Looking at the weekly chart, it does seem a bit extended, so, if you're looking for a discount you can look for a buying opportunity near the $104.19 area.
NYSE:DHILong
by HaseebKhan_90
BRO breakig out and creating new all time highs.* Great earnings * Very strong up trend * High 3-month relative strength in the Financial sector of 6.25 * Breaking out of a 2 month base with higher than average volume * Held up very nicely during the recent market conditions Trade Idea: * Now's a great time to enter as the markets are showing signs of recovery * Still close to the broken level and adding to the volume * If you're looking for a discount you can look for buying opportunities near the $67.13 as that should serve as support moving forward Caution: * If the stock makes 3 consecutive lower lows on a daily basis you might want to consider exiting early.
NYSE:BROLong
by HaseebKhan_90
EXP looking to reach for new highs?* Good earnings * Very strong uptrend since the 2020 crash * High 3-month relative strength in the Basic Materials sector * Breaking out of a ~9 month base with higher than average volume * Created a double bottom during the ~9 month consolidation * Second half of the double bottom can be considered a cup and handle pattern as well * Currently consolidating right above the broken resistance; creating a new support * Maximum probable ROI is ~21.97% if the trade goes in our favor Trade Idea: * If you're looking for a trade during these market conditions you should be ready to face volatility and trades going against you. * That being said, if you are looking to enter, now's a great time to enter this stock as it's consolidating just above the broken resistance and is offering a great risk/return ratio * If you're looking for a discount you have a few options 1) You can look for an entry at the resistance turned support level of $159.90 2) If it breaks and closes below that, you can look for an entry around the $158 area as that should serve as short term support 3) If it breaks and closes below $158, you can look for an entry near the $155.50 area as that should serve as a stronger support level. Caution: * Again, the current market conditions are uncertain and if you are going in, trade with caution. * A daily close below $155.50 would negate the idea.
NYSE:EXPLong
by HaseebKhan_90
UMBF breaking out of an 11 month base!* Great earnings * Strong up trend * High 3-month relative strength in the Financial sector * Breaking out of a ~11 month base with higher than average volume * Originally broke out last month but due to the market conditions it had a very slight pull back * During the pull back it held up very well relative to the general market conditions. * Maximum probable ROI is ~24.16% if the trade goes in our favor Trade Idea: * This is another breakout attempt after the general market is showing signs of recovery. * Now's a great time to enter as the price is very close to the broken resistance and it's EMA's * Weekly chart is also showing signs of the price being ready to move higher.
NASDAQ:UMBFLong
by HaseebKhan_90
WOOUSDT - Long term entryHad a very long consolidation period with lower highs and higher lows, now almost back to the consolidation (order block) from before the move up. A lower low in that consolidation zone with a divergence could give me a very nice (long-term) entry. This consolidation zone also contains the POC (Point of Control) of the consolidation. This is where the most volume has been traded and thus is a place where historically bulls and bears fight for control. Would be even more interesting in combination with a Bullish Divergence on the RSI. Invalidation would be below 0.45.
Long
by Metrikk
Where is Ford heading? It’s consolidating between $19 and 20.50 for awhile. It’s indecisive right now but going long looks more likely with the 50 and 100 trend continuing on a bullish track. Lots of support below. RSI current 59 with 50 also a support. Momentum is good. Risk even if it drops it won’t be much. So look for the breakout above $20.50 with high volume. Breakdown will happen if it goes below $18.50. If you agree then follow me for more, and give it a like
NYSE:FLong
by Art_of_Investing
1
ZIM ready to go higher?* Relatively new company * 3 out of 4 earning reports were great * Strong up trend * High 3-month relative strength in the Industrial sector * Pays dividends very generously * Increase in institutional interest * Breaking out of a 15 week base forming a cup and handle pattern * Depth of the cup is ~24.8% * Breaking out with higher than the 15 day average volume * $57.54 should serve as support moving forward Trade Idea: * Now's a great time to enter as the markets seem to be recovering and the sector seems to be doing well also. * The price is very close to the broken level
NYSE:ZIMLong
by HaseebKhan_90
UDR ready to move higher?* Great earnings * Very strong up trend * High 3-month relative strength in the Real Estate sector * Breaking out of a 18 week base with higher than average volume * Has been consolidating above the broken resistance for the past 12 days making it a new level of support. Trade Idea: * Now's a great time to enter as the Real Estate market is showing strength. * Price isn't too far away from the broken resistance turned support * If you're looking for a slight discount you can look for buying opportunities near the $55.93 area
NYSE:UDRLong
by HaseebKhan_90