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Hammercandle

HKEX:1571 potential profit 21%HKEX:1571 is going to break through a strong resistance level at 3.07, which will also formed a double bottom. As it can stand on the high volume close price with a hammer candle pattern. MACD will also help for this break through as both fast and slow line are above 0. The first target will be the target of the double bottom and also the top of the last downward wave. ADX is also have a positive indication of ADX > 20 and +DI > -DI Cut loss @2.78 Target @3.69 Buy in current price
HKEX:1571Long
by Smith_by_VPPBSS
TGT: Bullish Breakout on Seasonal Holiday EarningsTarget showed me all the ways to make money today. I took a small scale in a few days ago anticipating a good response to holiday earnings after they had a relatively lukewarm rebound from the late 2018 correction. Seeing the traffic at my own local Target, I was certain they would exceed expectations and they lived up to my hopes and more. After hours trading today was slightly down, but I expect this as some long term HODL'ers are finally realizing some profit, so there will be probably be more attention and buying for this household brand. I'll scale in and gradually ease my stops up to retain made profits at it rises. The profit taking found plenty of willing buyers, though, with the chart showing a black hammer doji that's a mild bullish signal with breakout confirmation needed in the coming days. For technicals, a MACD has been positive but flat for some time with the histogram only now breaking out bullish. ADX is low but pulling upward suggesting a coming upward price trend with DI+ above DI- for a few weeks and diverging strongly with DI- crossing below ADX as a potential buy signal. RSI is breaking above 60 but still below 75 so there's still time to hop on board if this only going to be a short lived price trend, but this shows signs of a contrarian pull back upward from the trough of the recent market wide corrections. This is likely to run up to 80 before really hitting it's first major resistance level and onward to 88 if it can sustain upward momentum long term. Expect a stair stepping pattern upward as well as watch close competitors like KSS and WMT and GPS and others to gauge sector and industry correlation.
NYSE:TGTLong
by chuckination
Medium Term Buy on FirstSource Solutions Ltd.FirstSource Solutions Ltd. is Buy with a target of Rs. 66 and Stop Loss placed at Rs. 42. On Technical Charts FSL has created double bottom at 46-47 levels with hammer and one white soldier pattern and follow up buying also confirmed its bullish reversal. So one can buy FSL at current levels with stop loss suggested for a period of 3-4 months of positional call. If anyone interested in more such fundamental and technical calls please visit our website wp.me
NSE:FSLLong
by VivekAggarwal
US 30 ZigZag Correction Near CompletionNearly there. Probably another rough day or two to get crushed down to support and complete the Zig-Zag correction (WXY). Elliott ABC wave near support. Expect a hammer Doji, a deep spike with reaction lift. Maybe Tues/Weds. Who knows, utterly unpredictable atm. Spy might get down to 253. Nas- who knows?! If index breaks and closes below the blue pivot support box, it's in big trouble and we should expect a bear market. Biting my nails to stubs. Monday wild price swings were astounding, it fooled a lot of us into thinking "This is it! Going up!" Expect consolidation at bottom first, not a giant bounce. As always, this isn't investment advice, trade at your own risk!
DJ:DJI
by DaddySawbucks
5
IS A RELIEF RALLY IN THE CARDS FOR THE FTSE 100If you're anything like me, as a trader you likely have a traded instrument that is kind of favourite. For me it is the FOREXCOM:UKXGBP mainly on account of the fact that I cut my trading teeth on this index. So if indices are a part of your portfolio, this could be a profitable opportunity. This index (like many others and the Equities they derive their value from) have been taken quite the beating of late. That said as we all know what goes down must invariably bounce... The million dollar question we all seek though is when and how high. Looking at this index from the perspective of the Daily Charts, we have now come back to retest previous structure lows established prior to that massive rally that saw the index achieve all time highs. As we have done so, six things have caught my attention: 1. The index has put in quite the pretty pinbar/hammer candle at structure support (look leeeeft, structure leaves some beautiful clues) 2. In the process of doing so, we can see some Bullish Divergence (Lower lows in price action, Higher Lows in Stochastic) 3. Depending on your rules for this pattern, we have just completed a weekly Bullish Bat Pattern 4. There is potential Bullish Divergence setting up on the Weekly Charts (though there is still room for confirmation) 5. We have a harmonic Equal Measured Move (E.M.M) to the Weekly Bat Pattern completion, though there is little in the way of confluence 6. Dropping down to the 4H Lower Time-frame, we have again, Bullish Divergence but this time coupled with a Double Bottom at the Daily Structure Support level, but more interestingly, holding above the Weekly Bull Bat Pattern completion level. I would dare say that the stars may be aligning on this one for a short term relief rally for this index as we edge closer to the end of the year. That all being said, I see the Daily Structure support level as a key decision point for this market so, I would be a tad conservative in my target estimates using the 38.2% and MAYBE the 61.8% retracements as potential profit taking levels, in anticipation of this market coming back to retest and possibly reassert bearish dominance at the lows. Not withstanding, based off a Weekly pattern analysis, no matter how conservative the targets, this could still prove to be a nice earner if my prediction is correct and one can obtain a good entry reason with a decent reward to risk profile. Good luck and stay disciplined and safe in your trades as we come to the end of the month and the years end if you are able to get involved in any decent trades.
FOREXCOM:UK100Long
by scorpiousg