FTV - Short Setup Indicator Notes- Weak Twiggs money flow
Special Note- Huge isider selling from veries directors, Millions of shares worth totaling over a Billion USD.
FTV
FTV - 13.01% Potential Profit - Ascending TriangleUptrend Support with a bullish pennant forming about to breakout.
Target price set at new uptrend resistance line.
- 5-month uptrend support
- RSI and STOCH well above 50
- MACD well above Signal
Suggested Entry $74.36
Suggested Stop Loss $72.33
Target price $83.89
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
FTV Bottom FormationFTV has quickly developed a bottom formation even while High Frequency Traders attempt to run the stock down further. Hidden Dark Pool Quiet Accumulation is moving price upward.
$FTV Rising Wedge - Unusual Options Activity$FTV Fortive forming what looks like a bearish rising wedge on the daily chart. Reminds me a lot of a NVDA chart I posted on Jun 14th just before the stock dropped 10+% in a matter of 1-2 weeks. FTV target $76 by mid-September.
Also of note, some very bearish unusual options activity today . A couple October straddle plays with premium heavily weighted on the Put side. (see below)
1) 8,000 Oct $110 calls for $480,000 with 8,000 Oct $110 puts for $23M (deep ITM)
2) 19,000 Oct $100 calls for $19,000 with 19,000 Oct $100 puts for $35M (deep ITM)
These net out to about a $57M bearish bet on FTV by October.
Note: Informational analysis, not investment advice.
FTVSo, prise break out consolidation
Target - nest consolidation
I prefer small stop, but you can use wide stop(zone 69.95 - 69.85)
