3M's net profit is up. What about its shares? 25/10/2023Earnings season continues in the US, and 3M reported its second consecutive increase in net profit, with 2.68 USD per share, which is higher than the company's or analysts' expectations.
In addition, the company is a dividend aristocrat. At the time of writing this text, the dividend yield of the company's securities was at 6.83%, significantly higher than the US average.
Therefore, it will be interesting to look at the 3M Co. (NYSE: MMM) stock chart today.
On the D1 timeframe, support has formed at 85.35, with resistance at 90.30. These levels are determined based on the price's highs and lows during the resulting downward trend. In addition, a "double bottom" trend change pattern has been formed. If the resistance level is broken through (the bar on D1 closes above 90.30), the stock price may rise to 108.37.
On the H1 timeframe, after resistance at 90.30 is broken through, the short-term target for the price increase is around 98.09; while in the medium term, it could reach 108.37.
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Stocksignals
APPLE Last BUY opportunity before a new 18 month expansion.Last time we looked into Apple (AAPL), it was still trading within the 2023 Channel Up (see chart below) and gave us an excellent technical pull-back buy opportunity:
This time the stock is after a 3-month pull-back that is testing the 1W MA50 (blue trend-line) for the first time since the week of March 13. On the wider picture of Apple in the last 10 years (1W time-frame), such pull-backs have been nothing more that consolidation phases before the next Expansion (usually 18 month - green arrows) that leads to the eventual peak and a new yearly correction (red arrows).
Those consolidation phases find Support on the 1W MA50 (even the COVID crash broke it just marginally), unlike the yearly corrections which find on the 1W MA200 (orange trend-line). What's astounding is the frequency of the consolidation pull-backs, which can be very effectively displayed with the use of the Sine Waves. As you can see on our chart, in the last 10 years, all pull-backs to the 1W MA50 after a 1W MA200 rebound, are located at the bottom of the Waves.
This indicates that most likely the current one is over and investors are expected to 'ride' the new 18-month Expansion wave to the new All Time High.
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RIOT - long positionHello my fellow traders. Price of RIOT seems to break out the resistance in pre market. I am waiting for a retest of red line to get in LONG position. I am looking for retrace and bounce from support. On smaller time frame I will watch for a wick below and long after bullish close.
BOOKING Who said travel season was over? 1D MA200 buy signal!Booking Holdings (BKNG) almost touched the 1D MA200 (orange trend-line) for the first time since December 30 2022, and reacted with a strong 1D rebound yesterday. That was also at the bottom of the 14-month Channel Up pattern. With the 1D RSI breaking below the 30.00 oversold barrier on Friday, this is technically the best buy opportunity since the Channel's first Low on October 13 2022.
In fact the two fractals are identical with the 2022 one breaking above the dashed Lower Highs trend-line and hitting the 0.786 Fibonacci retracement level. As a result, we issue a buy signal on BKNG, targeting 3140 (Fib 0.786) before the year is over.
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COINBASE Final dip before bullish break-out.Coinbase Global (COIN) is failing on successive attempts to stay above the 1D MA50 (blue trend-line) and that is technically establishing it as the medium-term Resistance. The long-term one is the 1W MA100 (red trend-line), which has never been broken. Based on the MACD sequence, we have potentially one more dip to make on the Higher Lows trend-line, simiarl to May 04 and June 06, before first to test the 1W MA50 and then Resistance 1 (116.50), which is intact since August 04 2022. Our first target is 80.00 (1W MA100 projected path) and second is 115.00 (just below Resistance 1).
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TSLA BREAKDOWN BEARISH TREND Hello traders, this NASDAQ:TSLA Breakdown from Higher Time Frame Viewpoint from The Weekly to Daily the current trend is a Bearish we had our Confirmation when the price below 191, i see the price reaching the 149 price share in a few Weeks Maybe we have an entry Price to short the STOCK AT 248 -252! If you agree let me know on the Comment about the Stock whether is bearish or bullish!
DISCLAIMER: I am not a financial adviser. The Analysis on my channel are for educational purposes only
NVDIA Is this CRUNCH TIME for the Head and Shoulders??NVDIA Corporation (NVDA) has technically completed a Head and Shoulders (H&S) pattern, which is a standard market top formation. The price almost touched Support 1 (410.00) on Friday and the Neckline (Higher Lows) of the pattern. As long as those hold, we can be bullish as the risk is low at the bottom while the upside much higher proportionally on Resistance 1 (476.50).
If however the price closes a 1D candle below Fib 1.0 (or even better Support 2), we will reverse to selling as the H&S suggests. Out target will be short-term on the 1D MA200 (orange trend-line), potentially hitting its extension at 370.00. Technically the H&S target extends as low as the 2.0 Fibonacci level, which interestingly enough, it is just below the 306.15 candle closing of the last day before the huge +25% price gap on the opening of May 25 2023.
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TESLA Buy opportunity in disguise?Tesla (TSLA) had a massive opening drop yesterday and almost hit the 1D MA200 (orange trend-line) for the first time since May 31. With the 1D RSI oversold at 30.00 and Support 1 (212.50) formed by the August 18 Low just below, this sell-off may be a buy opportunity in disguise. If it holds, then the dominant medium-term pattern will emerge as a Descending Triangle and our target will be the Lower Highs of July 19 at 255.00 (just below the 0.786 Fibonacci retracement level, similar to the September 15 Lower High).
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MORGAN STANLEY Strong buy signal at the bottom of a Channel DownMorgan Stanley (MS) has been trading within a Channel Down pattern since the beginning of the year and on Friday hit again the Lower Lows (bottom) trend-line. Today it formed a MACD Bullish Cross on the 1D time-frame and is issuing a strong buy signal as every time it appeared, in the last 12 months, the price rose by a +8.16% to +27.31% margin.
Taking the +8.16% minimum, the price targets $83.50, which is above the 1D MA50 (blue trend-line) but still just below the (dashed) inner Lower Highs trend-line. On a 4-month horizon, we expect an even higher price at around $90 (within Fib 0.618 - 0.786 as the July 25 High).
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🍎Apple🍎 will Go Up soon🚀↘️Apple started to rise after breaking the Descending Channel and is currently in a Correction .
🌊According to the theory of Elliott waves , it seems that the structure of apple corrective waves is of Zigzag correction type(ABC/5-3-5).
🔔I expect the apple to start growing from 🟡 PRZ (Price Reversal Zone) 🟡 and increase at least until the first Common Gap (about ➕10%) .
If you want to know about the types of chats, you can read the following article.👇
Apple ( AAPLUSD ) Analyze, Daily time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
ASIAN GRANITO INDIA | DOWN TREND BREAKOUT PATTERNDOWN TREND BREAKOUT STRATEGY
Entry Price - 80₹
SL - 30₹
Targets - 130,200,300,390+
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MMTC - Long Term Investment Opportunity. Potential Multibagger. MMTC - Long Term Investment Opportunity. Potential Multibagger. Consolidated for 10+ years, Financials are improving, Reduced debt over years, improving free cash flaw & Cash and equivalents. Important levels - Stop loss and targets are shown on the chart.
#multibagger #investing #wealth #stocks #sharemarket.
Why the S&P 3 month chart paints a scary view for Stocks We have been bearish on S&P since April 2022.
The bearish outlook is even more evident now with a HUGE DOUBLE TOP in the 3 months chart. This is the first time we have analyzed this pair in the 3 month chart and the divergence is obvious.
What does this mean for the S&P?
1) It is very unlikely it can move above 4600 to 4800 in the near future
2) There is a high probability that the pair is moving downwards. We are already in short from 4370.
3) The immediate target is 4275 but we looking at 4180 as the next target.
4) The long term target is 3600 and we will keep selling at any opportunity
In our mind, the stock market is in for a rough ride for the next 1 -2 years. Our prediction is that around 3000 by the end of 2024.
ACCENTURE Neutral within the 1D MA50 and MA200. Trade carefully.Accenture (ACN) has been rising within a Channel Up pattern since the March 15 bottom but recently entered a corrective wave to form the new Higher Low. This is in the form of a Channel Down pattern that heavily rejected the price yesterday on the 1D MA50 (blue trend-line). This rejection is dangerous as it turned the 1D MACD from a Bullish into a Bearish Cross in a matter of 4 days.
If the 1D MA200 (orange trend-line) holds, we will buy when the price breaks above the Channel Down and target 345.00 (almost the April 05 2022 High). If it closes a 1D candle below Support 1 (294.50) and the 1D MA200 (orange trend-line), we will take the loss and sell, targeting 281.50 (symmetrical -10.80% decline).
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ELI LILLY Our gem on the verge of making a paradigm shift.Eli Lilly and Company (LLY) has long been one of our best investments a real gem that even withstood and was practically unaffected by the 2022 inflation crisis. For long we have been using the Fibonacci Channel to display LLY's parabolic nature having broken above the 2.0 Fibonacci extension last May.
This time the price reversed much quicker than technically expected and is attempting again to break the top (Higher Lows trend-line) of the Channel Up that started in 2020. If it closes above it, then we wil target the 3.0 Fibonacci Channel extension at $700. If it gets rejected and stays within the Channel Up, we will sell and target the recent Support at $520.
Note that a break above this 3-year Channel Up may constitute a paradigm shift as the stock has never hit a new upper Fibonacci level that quickly (remember it broke above the 2.0 Fib just 5 months ago). This can transcend LLY into an even more aggressive bullish nature that we can't yet quantify.
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AMC Already up +30% since our buy call. Still hold?AMC Entertainment Holdings (AMC) went up yesterday +30% since our buy signal 2 weeks ago (September 26) as it rose from $8.14 to $10.52 (see chart below):
Our long-term target remains $25.00, which is under the long-term Resistance of the 1W MA50 but what to do on the shorter term? The 1D RSI just turned neutral at 46.37 while the 1D MACD is on a Bullish Cross but still under the 0.0 mark. Those two indicate that there is still more upside left to this 2-week rally, which was to be expected considering the previously oversold condition of the time-frame.
As a result, the short-term target is $14.00, which is exactly on the Resistance 1 level and where the 1D MA50 (blue trend-line) is headed to. Complimentary to that, the 1D RSI has a clear Resistance Zone for selling purposes. If it enters it before the price hits 14.00, we may consider taking the profit earlier.
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DPZ Domino's Pizza Options Ahead of EarningsAnalyzing the options chain and the chart patterns of DPZ Domino's Pizza prior to the earnings report this week,
I would consider purchasing the 380usd strike price Calls with
an expiration date of 2023-12-15,
for a premium of approximately $9.65.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
BANK OF AMERICA One last low and off to a great 2024?The Bank of America Corporation (BAC) got rejected again on its 1W MA50 (blue trend-line), a level that has been acting as a Resistance since the March 2022 break-down. This has created a Lower Highs trend-line that is the key pivot level now. But before that, let's see how it's been trading on a +10 year basis.
As you see on this chart, ever since the November 2011 Low, the stock has been trading within a Fibonacci Channel, with the extensions serving as very accurate Resistance and Support levels. We have seen 1W MA50 rejections after strong corrections in April 2016 and June 2020. Each of those times, the price hit the Buy Zone (green) before rebounding to a Higher High, while the RSI on the 1M time-frame hit the 38.80 Support. The 1M MA200 (red trend-line), which has been the multi-decade Support since the late 1980s and only broke during the 2009 Housing Crisis, is exactly at the bottom (0.0) of the Fibonacci Channel and will serve as the last Support standing between a recovery and possible oblivion.
As a result, BAC is within the Buy Zone that makes it a 4 year buy opportunity, with the most optimal level being just lower, ideally when the 1M RSI hits the 38.80 Support and rebounds. However it will only get confirmed when it closes a 1W candle above the Lower Highs trend-line. As far as a long-term target is concerned, the first Higher High on the Fibonacci scale was made on Fib 2.0 (March 2014), the second on Fib 4.0 (March 2018) and the third on Fib 6.0 (January 2022). Investors could hold, based on this sequence, until the 8.0 Fibonacci extension but on a lesser long-term horizon, we aim at $44.00.
It is interesting to point out that while each Cycle within this Channel has approximately been 4 years and each of the rallies around 2 years, like the one we're expecting now. The Sine Waves are the perfect tool to display that.
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LYFT in a bearish channel.LYFT Inc - 30d expiry - We look to Sell at 11.99 (stop at 12.91)
Trading within a Bearish Channel formation.
The sequence for trading is lower lows and highs.
The primary trend remains bearish.
Preferred trade is to sell into rallies.
The trend of lower highs is located at 12.00.
Our profit targets will be 9.81 and 9.41
Resistance: 11.53 / 12.00 / 12.45
Support: 10.75 / 10.30 / 9.72
Please be advised that the in formation presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group