KRE trade ideas
Still KRE but another point of view Analysis Here is my update of the KRE chart.
I think we are heading back to the 32,67$ area and if we won't break the uptrend channel, from that point we will go up and will retest 37 and possibly 40 at the top of this daily support channel.
As you can see, we are still in the uptrend on the D chart. The RSI is on 46%, there is no volume fading, and the indicator shows almost exactly the same level in the last 3 days. Today We peaked the profit 1 level, and then the bulls weren't strong enough so we went back.
Let's dive into the 4HR and 1HR time-frames to see that where we are heading now and find some answers to our questions.
4hr:
Trend direction:
We are still in the Daily chart's uptrend channel.
Candles:
After a tremendous bullish engulfing, we have a hanging man candle formed, and the after-hours candle opened lower than the previous candle's close price.
Momentum indicators:
RSI turned back from 54,56% ( which is a strong resistance level)
Volume shows me less volume in the last candle.
SMA: Big distance between 10SMA and 20SMA
EMA: We are under the 50EMA
An interesting fact is that 50MA was 2 times is a support line for the price that means 32,67$ is a strong support before the major support 31$.
1hr:
We have a kind of bullish harami, which turned back from the 50MA support level, accidentally the 20SMA was at the same level.
Analysis of the KRE chartHere is my new idea but, before starting talking about technical Let's share your LOVE by giving me LIKES and COMMENTS. Thanks in advance.
the 1hr chart
On the RSI : 3 times tried to break the 57,27 level but seems like a strong resistance, and always went back to 54,10 ( strong support) level.
What signs show that we are in the uptrend:
- We have a Doji after a Bearish Engulfing.
- The 10 SMA crossed above the 20sma, pretty bullish and we are still over the 50EMA
- We still have a place to go upper to the 60,32 area of the RSI, where is another strong resistance.
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Let's see the things on the 4hrs chart:
The 4hr candle closed out of the uptrend channel and we below the 50EMA
The 10SMA crossed 20SMA below those are not good at all
so there is a strong possibility for a pullback
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LEt's see the story on the D chart
We had a dead/death cross(3rd of March), because the shorter-term 50MA crosses below the longer-term 200MA,
We are still below the 50EMA and the 200EMA
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Monday will be exciting, hopefully, a short rally up for the profit 1 and then the pullback, and it can turn back to go and reach the profit 2
KRE will suffer a lot from rate cutsTake $TLT chart and flip it over. This is how KRE chart should look like...
KRE, update!AMEX:KRE
Price has come back into critical zone, trying to clear the resistance levels. Short term price momentum as indicated by red line is upwards. AS long as price above this line, stay long.
By joining various lows, I have formed the medium and long term support lines
Price has already created a support level near $48.87.
Important trading levels
R1 : $58.60
R2 : 65.77
S1 – 50.88
S2 : 45.16
S3 : 36.25
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Path of least resistance is...lower?Yields are looking ready to resolve lower - global yields tell a different story though, specifically the German and Japanese 10Y Yield.
$TLT vs. $SPY also suggestive of Bond out-performance on the horizon
Bank ETF Pulls Back Before EarningsBanks ended 2019 on a strong note as gloom toward the economy lifted and investors started to appreciate their low valuations. Now a key exchange-traded fund has pulled back to a potentially important level: The SPDR Regional Bank ETF .
KRE is holding the same $57 area where it peaked in February and November. The 50-day simple moving average (SMA) has also risen up to the same area, producing a confluence zone.
Stochastics are also showing a potentially oversold condition.
Earnings season next week may provide some catalysts as well. The reports begin with big names like JPMorgan Chase , Citigroup and Wells Fargo on Tuesday, with smaller regional lenders following soon after.
The recent Iranian turmoil has hurt banks, however the broader backdrop could favor them: Economic growth continues to improve and the Fed is keeping short-term rates down. That could steepen the yield curve , one of the key ways that financials make money.
Value investors might also like the multiples on banks because KRE's price/earnings ratio is under 13x, according to ETFdb. Compare that to 23x on the QQQ (Nasdaq-100) or 20x for SPY (S&P 500).
KRE - time to go Long!AMEX:KRE
KRE, looks good to push higher! CMP : $57.28
We are witnessing a continuous higher high and higher low on the RSI indicator and price has just been pushed lower by the Resistance Line (R1) @ $58.60 levels
Price has already created a support level near $48.87.
Important trading levels
R1 : $58.60
R2 : 65.77
S1 – 50.88
S2 : 45.16
S3 : 36.25
RSI seems to be showing signs of being oversold faster at higher price points suggesting higher price action
Watch out for this space, go long and sit tight
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$spy $kre If the market is going to keep going Kre will be nextLooks like consolidation before breakout. Headed to 61 and quickly
Financials Due for a Quick Bounce Off SupportI'm not sure this is bullish long-term, but do expect a $3 bounce near term for financials as this pattern sorts itself out.
Short Regional BanksAll the cheap money lending is finally catching up with the banks. Short this garbage with confidence, knowing that the US economy is about to get canned. Cheers.
$kre at a crucial spot here $spywatch regional banks. if they break this support again, it would be bad for overall market
trade war trade- spreading your risk like a proin the current environment banks are leading the rally, but volatility is likely to return.but, volatility can remain low for long periods of time.
in this trade i see certainty in either direction as a positive. this trade captures either delta change or volatility expansion in the main leading sector.
in this trade we take a russell proxy KRE and SP 500 proxy XLF. both underlinings are extremely liquid and IV is low in both.im expecting positive certainty that being said the trade setup will be
the russell proxy KRE (3-- 100 wide bull calls) and the sp500 proxy XLF (2--100 wide bear put spreads).
the ratio is based on CME's risk management suggestion for russell vs SPX.
yes, rising wedges in some cases can be bullish
2019 prediction- there will be hamberdersmnuchin , powell, and trump have a bonding moment over a few hamberders one night. steve asks is liquidity secure? powell says we have a ton of excess liquidity, regional banks are unfairly hurt by rules to tame more sensitive banks. trump we need a rule change to allow a little stimulus juice to help industry. why not change rules on excess reserve requirements on regional banks? trump says people would be happy, they would be able to absorb excess inventory in certain sectors (housing, auto, HAMBERDERS...etc).
KRE - US regional banks - top.....or not?Two counts here: My preferred count in red showing a top has been made and to expect some sustained downside. The alternative blue count suggests the opposite and that another leg is in the offing as soon as this correction is completed.
Sentiment too bearish, high put volumePut 4x calls
May consolidate and retest 59, but short term I d be surprised if it goes straight up ... More downside, wait for consolidation and bullish div
