Axon Enterprise $AAXN#AxonEnterprise broke out the down trend and daily 50SMA but the volume is low.
Industrials
Alcoa below $2BCan't really make a trade here, but thinking about the relative value of other businesses, Alcoa getting below $2B valuation with $128M in FCF is a weird place to be. Other industrials could quickly nab them to maintain supply chains and consolidate the group.
DOW JONES How to trade this pull backPattern: Channel Up on 1M (since September).
Signal: Bullish with 1 position now on the Higher Low of the pattern and if it breaks 1 more on the 1D MA200.
Target: 30000 (projected Higher High).
TRN - Highly Shorted Stock Looking BullishThe stock price has been rising since a double bottom in early October. It broke out of a downtrend today with the price finding support on a level where the price gapped up. This area is also where the 200-EMA line is. Today's short float on this stock was 11.71%. Price targets are noted on the chart.
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.
XLI - Steady As It GoesXLI has just been consolidating since early March. Pretty simple play, just keep trading when bouncing off support/resistance or sit back & wait for the breakout/breakdown.
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!
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. $MYE is also the largest distributor of tools, equipment and supplies for the tire, wheel and under vehicle service industry in the United States. The distribution products range from tire balancers and alignment systems to valve caps, tire repair tools and other consumable service supplies.
US STEEL coiling up$x $aks US steel looks good-Potential for lower prices before it breaks above this descending pattern. I was bearish on X above 46. I didn't think it would come this far down but some special could be in the works.. It could go RIPPING higher but I would not blink if it dropped to 5 or 6 per share again. Bear chart from 2018:
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.
Moog Strong Pullback Fundamental analysis
MOG.A dropped 15% in 2 days, after beating earnings, revenue, and reaffirms FY19 EPS guidance.
Analyst lowered price target from $102 to $92
Technical analysis
OBV did not fall below it's high since late June.
RSI(10) @30.5, not wanting to go into oversold territory.
*Note:
If the stock market rallies tomorrow with the fed announcement to cut rates. This stock will probably too.
EPISODE 5/11: US INDUSTRIALS-BULLISH CHANNEL + STRUCTURAL XLI TAEpisode 5/11: US (SPX) Sectors Technical Analysis Series - 17th of July 2019
Brief Explanation of the chart:
Squares represent past and future structural supports . Since 2009, the bulls have used Monthly MA 50(Weekly 200) support , labelled as the purple line .
The latest bullish channel leading to wave 5 can have 3 potential targets : 85$, 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.
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?
FAST ShortShort based of channels and fibs
My Planned Entry: 61.24 (any entry above this is fine)
Stop Loss: 64.00
PT: 51.00 area
Risk/Reward: 1:3
GE Accounting 101Someone lost their magic finger counting, I mean accounting measures.
GE Grandfathers stock passed down. We're at $11-12 watching CCI go deeply negative for so long. Sell this one before it hits $5-6 then buy gramps lucky charm rabbit foot back.
Anyone call this with a 1 yr put, anyone? NM, you're not on trading view anymore if you did. Silly question.
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!
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.
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
Caterpillar Elliott Wave IdeaCAT possibly in wave 4 now after completing what looks like very bullish wave 3 of 3 of 3.
