STZB34 trade ideas
STZ "Will" Rebound, Right?I entered a 150/145 Put Credit Spread on STZ last week. Trade was sitting pretty as price shot up to 156. Then, of course, the biggest correction to STZ in 4 years.
I do like that the 200 ema and the 618 fib retracement held firmly. 9 days left to claw its way back.
Great Entry Point ApproachingRecent bullish head and shoulder's bottom almost achieved its measured upside target, but due to market swings and a possible retest of previous August low may give patient investors to enter this great company. I am targeting below 50-days moving average at and around $140 probably the low of the right shoulder $138 area for a target price $160
Flat Base in STZ a Cautious BuyReasons to Buy
Strong Annual Earnings
Strong volume buildup
Leader in a top industry
Strong compared to SPY
Strong pattern (See chart for details)
Reasons to tread with caution
Market not in an uptrend currently
Week could close below breakout point
Prior uptrend not above 30% (but strong uptrend overall suggests this is ok)
STZ Day Trade (Brad Reed Jan8,2015)STZ expected to open at 107.50 for a Retest Gap. To learn to trade this strategy for free, go to www.RealLifeTrading.com
STZJ-Hook Pattern can be bullish & recent vol. is a nice signal. Concern is MACD which needs to confirm.
