Long | USFD | Swing TradeNYSE:USFD
Possible Scenario: LONG
Evidence: Price Action, Reversal Candlestick, Unusual option activities for July at 40$
TP1: 34.5$, TP2: 37$ TP3:40.5
Stop loss: EMA 100 ~ 30$
This is my idea and could be wrong 100%.
USFD
USFD Broke 52Wk fib plus Bull FlagUSFD broke what looked like a double top pattern to form a bull flag and breakout. Also tested 52week fib as support at 37.49.
US Foods - Can fall down to 17 in next few days.US Foods just crossed its immediate short term resistance however i think this may not be a break out given it is rallying with the market. in a very short term i.e. in next few days it may come back to below 19 level. I would interested to buy if it tests $17 level again.
USFD - A Nice Little Surprise FindThis stock actually popped up on one of my daily scans that I run each day, and it came up on my BEARISH scan. However, once I zoomed out to the weekly chart I actually really like this as a weekly bullish play.
The weekly chart is trying to exit an oversold condition with little volume resistance overhead. It has broken out of a bullish wedge pattern after creating a bit of a flag pattern prior. I have my potential price targets noted on the chart. If you wanted a better entry, the price may fall for a little in the near-term as it did pop up on my bearish daily scan but I would definitely keep this on a watchlist.
USFD Short opportunityThis stock is over stretched, weak management who base everything on the industry and does not have the energy or will to innovate. It has done well over the past few quarters, but insider activity tells of a lack of confidence in the stock.
USFD - Possible H&S formation short from $33.47 To $30.13USFD seems forming a possible H&S formation with strong Twiggs money flow divergence. It also has big insider selling in huge percentage's. We think it will decline down to $30 or lower.
To play this we could consider July $30.00 Puts $0.70
* Trade Criteria *
Date First Found- March 23, 2018
Pattern/Why- Possible H&S formation
Entry Criteria- Current price ($33.47) (Hit March 23, 2018)
Exit Criteria- $30.13
Stop Loss Criteria- $35.37
Indicator Notes- Strong Twiggs money flow divergence
Special Note- Huge selling.100% and big money. Could consider July $30.00 Puts $0.70
Please check back for Trade updates. (Note: Trade update is little delayed here.)
USFD Long ideaBase looks very constructive here. Not so sure on its earnings growth potential, but I would keep an eye on this one.
