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SHORT AUDNZD - lowest since February 7thBears on AUDNZD took wind into the sails. Strong declines began on May 22nd and since then price has fallen from 1.0750 to 1.0425. During this period following support levels were broken: 1.0570, 1.0500, 1.0440. The nearest support towards which currently price is heading is 1.0390. This level can provide a temporary correction, but main target for bears is below. Only 100 pips have been left on AUDNZD to test 2017 lows. Looking at the current strength of the downward movement it seems almost certain that this test will happen. It is possible that supply will also try to break through key support at 1.0330. However, looking at the strength of this level, its easy breaking seems unlikely.
Short
by Comparic
AUDNZD - lowest since February 7thBears on AUDNZD took wind into the sails. Strong declines began on May 22nd and since then price has fallen from 1.0750 to 1.0425. During this period following support levels were broken: 1.0570, 1.0500, 1.0440. The nearest support towards which currently price is heading is 1.0390. This level can provide a temporary correction, but main target for bears is below. Only 100 pips have been left on AUDNZD to test 2017 lows. Looking at the current strength of the downward movement it seems almost certain that this test will happen. It is possible that supply will also try to break through key support at 1.0330. However, looking at the strength of this level, its easy breaking seems unlikely.
Short
by Comparic
Will The Bears Viciously Attack Lowe's Again?Lowe's is setting up to repeat previous large declines after its most recent earnings call. The stock has been in a bullish trend since 2015. The stock has cycled in tight channels up and down throughout this bullish run. Currently Lowe's just repeated movement that has resulted in a two quick 13% drops. Near-term downward movement is outlined below. When we take a look at other technical indicators, the relative strength index (RSI) is at 30.2113. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. Currently the RSI is near oversold levels. This indicator does contradict my projected movement, however, both previous similar pattern instances kept the RSI hovering around oversold levels during the course of their drops. The true strength index (TSI) is currently 1.8606. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The TSI is pointing down. More importantly the 50 day moving average on the TSI has begun to trend down. This exact same thing happened the last two times the stock gave up 13%. The positive vortex indicator (VI) is at 0.7017 and the negative is at 1.1622. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. Currently the stock is dropping per the trend and position of these indicators. The stochastic oscillator K value is 23.1291 and D value is 22.7512. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The current signal has the stock flirting with oversold. Similar to the RSI on the last two drops of 13%, the stochastic hovered around oversold territory for a while. This scenario could be repeated this time as well. During the bull trend, the stock has cycled up and down. When the stock breaks down from its upcycle trend, the stock has dropped 13%. This occurred in early 2016 and again in August of 2016. Both drops occurred within 25 trading days. On May 24, the stock broke down from its recent uptrend. A 13% drop would take the stock down to 69.85. A fairly likely drop could bring the stock down to at least 75.50 in the near-term. Considering the RSI, TSI, VI and stochastic levels, the overall direction favors a move to the downside. Based on historical movement compared to current levels and the current position, the stock could drop at least 4% over the next 34 trading days if not sooner.
NYSE:LOWShort
by StockSignaler
AUDNZD lowest since February 8thThe downside trend for AUDNZD is doing great. Supply once again proved on Friday that it is in power. Significant support at 1.0570 was broken, and today we have seen return to this level which was tested this time from below, confirming the polarity reversal principle (broken support becomes a resistance). Next supply targets are in the following order: 1.0500, 1.0440, 1.0390, 1.0330. The last of the levels is probably main goal of current downward movement. At 1.0330, we expect a strong demand response, including reversal of current downward trend.
Short
by Comparic
AUDNZD - Lowest since February 8th The downside trend for AUDNZD is doing great. Supply once again proved on Friday that it is in power. Significant support at 1.0570 was broken, and today we have seen return to this level which was tested this time from below, confirming the polarity reversal principle (broken support becomes a resistance). Next supply targets are in the following order: 1.0500, 1.0440, 1.0390, 1.0330. The last of the levels is probably main goal of current downward movement. At 1.0330, we expect a strong demand response, including reversal of current downward trend.
Short
by Comparic
LOW - Upward channel breakdown short if weakness after earningsLOW seems running within a wide upward channel, and at this time coming down from Upper channel line. We have earnings for it tomorrow, so we would like to see how it reacts. However if it shows weakness after earnings, we will consider for a short entry. * Trade Criteria * Date First Found- May 23, 2017 Pattern/Why- Upward channel formation with Earnings ahead. Entry Target Criteria- show weakness after Gapping up to $86.00 or $83.23, or Break of $81.87 Exit Target Criteria- $68.16 Stop Loss Criteria- $87.26 Please check back for Trade updates. (Note: Trade update is little delayed here.)
NYSE:LOWShort
by AcornWealthCorp
THE WEEK AHEAD: TGT, BBY, LOW, XRT AND THE VIXWith earnings in TGT, BBY, and LOW, it's no surprise that implied volatility in the retail ETF, XRT, has ramped up here a bit (sixth month implied volatility rank is 73/implied volatility is 22). That being said, I'm really only looking at BBY for a play given its implied volatility rank/implied volatility (93/48). HTZ also announces earnings and has the right metrics for a play, but has 2.5 wide strikes where I'd want to set up, so I won't be playing that. TGT and LOW's background implied volatility probably will not be sufficient for me to play (they're in the high 20's/low 30's; I prefer something around or above 50). Relatedly, however, XRT is starting to "frisk up", so I may consider putting on a fly there if I can do a setup that brings in 1/4th of the width of the long options. Additionally, VIX spot hasn't moved significantly, but back month VIX futures options have ticked up a bit such that you can get in on a term structure trade in VIX in the May expiry at the 16 strike for a decent credit (e.g., May 16/19 short call vert). And that's what I'm looking at for the week ... .
AMEX:XRT
by NaughtyPines
1
11/16 TWTR Potential Long SetupIt's Wildcard Wednesday and TWTR is showing a potential turn for a low-risk, long entry either on the underlying stock or a set of call options with a .65 Delta or higher and 2 months until expiration.  It has already tested the previous up fractal, but with a no-go on closing above. Once a market close occurs above that level, we'll look to submit a buy order. Otherwise, we're prepared for a smaller turn to the downside or a range. Again, we need a market close above the $19.35 mark, with our trailing stop starting ~7% and closing.  Happy Wednesdays everyone!
NYSE:TWTRLong
by EdgeAnalytics