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Owens and Minor Long AFThis is a stock with strong fundamentals. There are a few key things about this one.The true bottom should be the 30 week MA at 4.50 and that would be amazing getting in at that price but... I feel like this stock has held up pretty well in the recent whiplashes in the S&P 500 and more importantly the 30 week moving average is pointing it straight up so I believe this will not drop any further. If it does, then capitalizing on the drop by buying it would make sense, assuming the market itself isn't taking a shit. Furthermore, you can see the MACD signaled this a few weeks ago, I love the MACD community indicator by ChrisMoody because it shows you a green or red blob when it crosses over. Then promptly after the MACD signal, the RSI crossed over on it's average and it's now centered. I think this stock has the momentum to push up rapidly in price. It's hard to say but around 13-15$ seems chill for a short term sell goal.
NYSE:OMILong
by eneakume
AUDNZD - Trade Idea for TODAY!Which way will it break? Nice clear chart with great support and resistance. You could even go and add other indicators such as RSI etc. I like this chart on the higher time frames as well. A break out of the bull flag or triangle, bulls are in control. However, if we do break to the down side, take the short down to the next support area, for bulls in control, target the next resistance. As I am aware we are in consolidation within the majors, but minors are offering great R/R trades. Remember: Just a trade idea, not a recommendation.
by Trade_Journal
EURCHF - **Trade idea for next week**One of the best performance when it comes to momentum. I've been trading this pair since the break out of the wedge formation we've had and the support/resistance lines are so clean. It's within a range at this moment of time. This weekend we have G20 meeting. I wouldn't enter this trade as it's Friday. Friday is a day where i'd enter quick scalps, go through my trade journal and seek out opportunities for next week. As it's within consolidation, we need a clear break out to either direction. If we have the bears in control, of course i'd look to target trend-line areas. However, if we carry on the bullish momentum i'd be targeting a 261.8 - The best opportunities is 161.8 or 261.8, the risk/reward is high usually with depending on where you'd entered. The fibs of 261.8 = nice resistance area as well. Great trade for next week opportunities - keep an eye out for G20 meeting this week. Be a hawk...! Remember: Just a trade idea, not a recommendation. Give us a LIKE & COMMENT on any other pairs you'd like us to analyse. Happy weekend to you all.
by Trade_Journal
NEM : Daiy chart, pullback expected - minor cycle bottomNow that we have looked at our view on weekly charts, lets look at the daily charts. (attached below the analysis on weekly charts, better t read that first to have the forthlooking view) Weekly chart on the minor cycle suggests a minor pullback in the beginning of March 2020. As we are aware, price may bottom a few candles around this and we may expect last week of Feb and the first week of March to show a minor pullback. Price around $42 and $41 is an important cycle resistance/ support zone from previous weekly cycles. A look at the candles and we can see some signs of signals of short term market overbought conditions and also RSI showing overbought status. Wait for the pullback and then price may retest the upper resistance zone Look out for more action on this!
NYSE:NEM
by LoveForCharts
ORBEX: EURAUD Correction Likely To Lead To Further Upside!EURAUD could move higher to complete minor wave 2 above 1.6800 levels. Before continuing higher, it is necessary to complete the minute correction that started at 1.6800 top. With a low at 1.618% FE at 1.5900 round level, which is also a double bottom level, the correction could have either ended as a single zigzag or has another bearish leg down between 1.59-1.55. Look for a valid break above 1.6300 top but before reaching there focus on whether a potential upside is limited to 1.6240 -the 50% FR of 1.6435-1.6045 (minute x wave top to current low price). Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
Long
by Orbex
Ideas on CAD/CHF Short after Tripple TopHi Traders, following my trading ideas to the minor pair CAD/CHF for the next week. At first we should say that this pair is moving sideways for 5 years (since 2015). This makes it kind of difficult to tell the direction of the market. With the closing of the market on Friday we are facing a huge resistance level round about 0.74936. In my chart you can see two options: 1. LONG: Turning at the current resistance level and move in direction to price level 0.76152 2: SHORT: Breaking through the current resistance level in direction to the short term price level at 0.74338 and long term price level at 0.73603. I believe in the continuing of the current short movement (Option 2). We have got 3 strong bearish candles and strong bearish momentum with the closing of the market on Friday. So if you ask me, after building of the tripple top last week we will see the short movement to the first price level on 0.74338 breaking the pattern line and continuing to 0.73603. Its pretty easy to trade this pattern with the confirmation by the next candle and make sure to set a tight stoploss for this trade. Feel free to share your thoughts! Best, Lukas
Short
by LBAsset
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