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Honeywell in Wave 3 (daily); Run up to earningsI believe we're in a Wave 3 on the daily chart. Price target $195. I think, between now and earnings (1/27), there will be global forces (i.e., trade deals, appeasing fed, etc.) that will run this (and similar equities) up a to earnings. My price target may be included with the result of earnings , which from what I've briefly read should be a turnaround story from Q319. I'll look to buy Call Weekly Call options expiring right before earning if price breaks through and closes above the supply zone of $180.68.
HLong
by WaveClout
Congrats to Subscribers! Fastenal up over 15%It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand. MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long (buying). For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling). For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). Be sure to hit that Follow button! Please find me on social networks via the link on my profile page for more ideas from MasterCharts!
NASDAQ:FASTLong
by mastercharts
Short $MYEThesis: With growth and inflation decelerating (Quad4) and our leading indicators slowing as well that means we want to be short Industrials. Within the Industrials sector the Rubber & Plastics industry was reporting contraction via ISM data. After screening for P/E and style factors like High Beta coupled with a strong long term price trend we added $MYE to our watchlist. $MYE (Myers Industries, Inc.) manufactures a diverse range of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. Myers Industries is a leader in the manufacturing of plastic reusable material handling containers and pallets, and plastic fuel tanks. Other principal product lines include plastic storage and organization containers, rubber tire repair products and custom plastic and rubber products. $MYE is also the largest distributor of tools, equipment and supplies for the tire, wheel and under vehicle service industry in the United States. The distribution products range from tire balancers and alignment systems to valve caps, tire repair tools and other consumable service supplies.
NYSE:MYEShort
by UnknownUnicorn5712754
SELECT ENERGY SERVICES INC - NYSE: $WTTR Nears Critical LevelAfter recapturing its 200 DMA in early Spring (March), the shares of SELECT ENERGY SERVICES INC - NYSE:WTTR have been trading in a narrow range working on its right-side as we can observe in the Daily chart above. While the stock has made no real progress recently and continues to trade range-bound, WTTR nevertheless remains in decent technical shape trading above all of its important moving averages 20/50/200 DMA's, which displays a healthy technical picture. Additionally, if one were to extend the time-frames out to both the Weekly and Monthly durations, we can see that WTTR is potentially forming and inverted H&S pattern that should it complete, would likely carry the stock to much higher levels on a longer-term timeline. That said, both investors/traders may want to continue to monitor the action moving forward for if WTTR should take-out the $13 level at any time in the days/weeks ahead, such development may set the stage for a move into a primary $16 objective and a possible measured move into the $18-$20 zone down the road. Thus, WTTR finds itself a stones throw from a critical level ($13) and both investors/traders may want to put the name front-and-center on their radars for further clues/evidence that a major move may be nearing in the offing.
NYSE:WTTR
by OptionsGains
EPISODE 5/11: US INDUSTRIALS-BULLISH CHANNEL + STRUCTURAL XLI TAEpisode 5/11: US (SPX) Sectors Technical Analysis Series - 17th of July 2019 Brief Explanation of the chart: Squares represent past and future structural supports . Since 2009, the bulls have used Monthly MA 50(Weekly 200) support , labelled as the purple line . The latest bullish channel leading to wave 5 can have 3 potential targets : 85$, 94.5$ and least likely 100$. This is just a brief "free" and very detailed analysis. Perhaps in the future I might form a premium group, to whose members I will provide all the details of my research. >> I do not share my ideas for the likes or the views. This channel is only dedicated to well informed research and other noteworthy and interesting market stories .>> However, if you'd like to support me and learn more in the greatest of details, every thumbs up or follow is greatly appreciated ! -Step_Ahead_ofthemarket- Check my Previous episodes on the US Sectors: EPISODE 4 : Health Care (XLV) EPISODE 3: TECH (XLK) Full Disclosure: This is just an opinion, you decide what to do with your own money. For any further references- contact me.
AMEX:XLI
by step_ahead_ofthemarket
WESCO AIRCRAFT HOLDING INC - NYSE: $WAIR Continues To FlagAfter breaking-out last month (May) on nearly 8X its average daily volume and in the process reclaiming its 200 DMA, shares of WESCO AIRCRAFT HOLDINGS INC - NYSE:WAIR continue to digest the recent run in and orderly manner as well as continuing in a Flag pattern as evidenced in the Daily chart above. In addition, WAIR now finds itself trading above all of its important moving averages 20/50/200 DMA's, which portrays a healthy technical picture. While we continue to await the resolution of the Flag pattern, the stock continues to display constructive characteristics, whereby both investors/traders may want to continue to monitor the action closely in the days/weeks ahead. Finally, with the recent merger announcement of United Technologies Corporation NYSE:UTX and Raytheon Company NYSE:RTN , we can't help wonder if this may precipitate further M&A within the Defense/Aerospace industries moving forward down the road?
W
by OptionsGains
MMM - Discount Buy or No?Find the commentary from the chart below: In general, the stock paints a bullish picture but there are also things that could indicate that it would rather trend downwards at least for some time. Bullish points -Stock is currently above the 120 moving average which has served as a support level since 2011 on weekly chart -Stock is currently In an uptrend and hence current downward move may be a correction and oportunity to buy in the larger trend -The 188 support level is intact, and has held since it was formed & the short term resistance level at 212 just got broken last week and so there is some bullish interest in the stock -Dividends have experienced increase by 15% this year (from 1.11 -> 1.18 last year -> 1.36 now this year for each quarter) -Quarterly actual earnings and earnings estimates have all been growing along with stock price and hence it can be inferred that the company is expanding and may continue to be profitable for at least the next few years (longterm outlook idea) Bearish points -The price behavior with 120 moving average this time around has been sharper, larger and more aggressive this time around without truly breaking and testing 120 moving average; this could mean the moving average break is rather yet to come and so more patience should be had (if so an entry with a smaller position can be made, and then more size added as trade begins to work) -Stock has a long way to break out of 255 in order to confirm uptrend, but waiting for price to reach there from its current price at ~212 would mean you would miss the uptrend move in this case; this could be a good idea to exercise patience, but the aggressive correction I already mentioned could mean the very early stage of a shortterm downtrend at least with 255 being the peak price (simply put, because of the price behavior, you would be safer buying from support and deciding to add or close trade after stock reaches 255 rather than waiting for move to 255 and then buying into breakout). -The 188 support level has been intact since it was formed, but it can break with pressure of earnings & a true test of 120 moving average; if these price tests occur and are strong enough, it could set the stock up for a downtrend. -Dividends and earnings growth may indicate future longer term growth and NOT shorter term price action; even though the "numbers" of the company may look nice, it may be moving upward now as a sympathy play since sector (XLI') is also doing well right now. (This stock will not be traded as part of paper portfolio challenge) Let's follow MMM' to see how it plays out! Thanks!
NYSE:MMMLong
by themdtrader
DJIA OutlookSmart Money Has exited the Industrials in a big way since the high in January. Last time the SMI was this low the DOW was at 18000, a whole 7,000 points lower... This is never a good sign, but if the market can resolve this symmetrical triangle in a bullish, that money will pour back into the market and push it to new highs. The Red areas marked are likely areas of resistance, while the green boxes show previous areas of high market volume. If this triangle resolves bearish, look for price to hold at one of these previous levels. Without dramatic news, or some major global event, the lower marked levels are not likely. Volume decline is common in a symmetrical triangle, but we did have some higher highs inside there with volume declining. Just waiting and watching with the smart money. That volume bump after the the election is wild... Orchestrated... A coincidence.... ? The Dow is still in a Bullish Trend, so the symmetrical triangle is likely to break bullish - but it is worth keeping an eye on.
DJ:DJI
by Nevermorejk
3
Industrial Sector in Trump's AmericaTariffs, tariffs, tariffs this is the word that will and has consistently beaten down the sector. So, now you ask yourself, "how far down can the sector go?" Well as the chart shows a critical juncture is coming. A bottom trend line that has been established for years now will come into play soon and if this S&P Index falls below it...well...this downturn could just be a taste of what is to come. WHAT TO LOOK FOR? - Index needs to remain above $600 - MOST IMPORTANT needs to stay above ascending trend line
SP:S5INDULong
by hesswg48
1
Trade War is ON - Rough Week Ahead for Markets [TECH SECTOR]The Nasdaq-100 is about to have another day in the red. Around 3 am eastern, Nasdaq 100 e-Mini Futures began diving, erasing the minor gains made in the previous session. The futures tend to take big swings during open sessions which IMO means that cable news networks are gonna throw that index ticker up for the day. The drop also comes 5 hours before opening bell which means that futures could be trading even lower by then. The catalysts that'll be buzzing on the news networks: Trump Administration's official release on Monday of tariffs on Chinese Imports. The list is lengthy targeting all sorts of products and very specific at times, specifying that biscuit ovens are to be levied. While I am concerned about biscuits, the main focus is on industrials and tech. Semiconductor materials and other intermediate electronics parts are big targets that could have a big impact on the US markets. Not on the list are some apparel items, because sweatshop made t-shirts are too far apparently. We'll see how Nike and Under Armour fare. Quick retaliation by China. News broke overnight that China will target tariffs on US exports of equal value. Included items are more agricultural related items, Soybeans, Corn, etc. These goods are hard hitting to Trump's voter base. Also included are aerospace and car parts, not good for Boeing and Soybean Futures already dropped real quick. Overall, China does have the upper hand in this trade war, they have growing domestic demand for many American goods and the ability to undercut US companies by growing domestic ones. The US doesn't have that same luxury. Takeaways: These are just plans, an overseas mexican standoff, where both countries hold $50 bln (each) on the line. The goal of this trade war isn't to hurt industry, but to have a reason to beat our chests, rile up some voters, and to agree to fix some boring legal issues. So any short should be a SHORT TERM trade, at least at this stage. It's likely that we'll see new lows and the technicals could be different after this week. There are several, probably bullish, reports coming out this week so it'll be a volatile one. I'm personally looking at the Semiconductor Bearish ETF SOXS because it is the one of the crosshairs of this trade war and has the most to lose with their inflated P/E ratios and more sellers looking to take profits while they can. The tech blue chips also have bearish momentum already from a slew of news items, Amazon, Tesla, Facebook, Intel, and so on and so forth. Technicals: The 200 Daily MA (Yellow line) may be tested as well as the lower uptrend channel support. Breaking through these supports could be a sign of a longer correction. Yet at the same time they could converge to hold us up longer, but I'm not too confident on that scenario. Here's a look at how the e-Mini Futures played out overnight: Let me know your thoughts, if you agree or not and why, i'm curious. Give this post a like if you found it helpful! ~NY ***This is not financial advice in any form, do your own thinking***
TVC:NDQShort
by NYFinancials
3