Time to CorrectAfter the impressive rise we are seeing a declining momentum now. It may be seen as a sign of an ongoing downward correction.
CNX trade ideas
CNX Resources | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# CNX Resources
- Double Formation
* 012345 | Wave Continuation Uptrend | Subdivision 1
* Neckline Alignment At 37.60
- Triple Formation
* Right Leg & 0.236 | Subdivision 2
* Retracement Reversed 0.618
* Pennant Short Bias Set Up | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Neutral
CNX P Pick - Watch for big pop - & USOI already have the long USO idea working really well, but I have a date on my calendar for tomorrow on USO with the note, "possible 5+% move".
So, I use a pendulum and dowse all my ideas. I sometimes let the pendulum choose a stock from different lists, and this morning asked for something I can spend only $30ish on an option for and make hundreds back this week (i haven't been this specific usually in the past fyi). It presented CNX.
Now when I dowse on CNX, it's also saying up 5+% and the advice is "parabolic", and most important to know is: "it'll keep going up". So, I had to present this idea because it could be some fast and relatively painless money in the next 1-2 days. I do have there is a swing high coming though on Wednesday. Though I can be off a day on either side of dates.
🛢️💡 CNX Resources (CNX) Strategic Initiatives 📈🚀Market Adaptation Strategy:
CNX partners with NuBlu Energy to innovate CNG and LNG production, enhancing efficiency and market reach, showcasing adaptability to natural gas dynamics.
Supply Management Approach:
To address oversupply, NYSE:CNX reduces production and delays activities, demonstrating strategic flexibility in response to market conditions.
Market Outlook:
Analysts anticipate natural gas price stabilization in Q1 2024, with seasonal demand upticks favoring CNX's stock.
Trade Projection:
Bullish stance above $21.00-$22.00.
Target price of $31.00-$32.00 reflects potential stock appreciation as CNX optimizes operations and market conditions improve.
📈🔍 Stay tuned for CNX's operational developments! #CNXResources #NaturalGasMarket 🌐📊
CNX - 22 months CUP & HANDLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
Long CNXEntered a long position on CNX Resources Corporation $CNX.
Timeframe: D
Target: ~$23.50
SL: ~ $19.95
Reason: bullish break of a daily inside bar, in the direction of weekly trend.
CNX 200 EMA Bounce and Wedge PopCNX bounced off the 200 EMA on the daily and has broken out of a downward wedge. A move over $21.00, and a reclaim of the 50 EMA should send this back up to test the highs. Looks even better on the weekly chart imo. Target $23.50
CNX over key pivot to reach ATHsCNX has shown great strength recently and broke over $23.33 pivot to hit new ATHs yesterday; volume has also increased, having shown volume dry up during the accumulation phase. The U/D ratio on this ticker is also good and suggestive of institutions buying this stock up.
$CNX: Potential breakout coming soonCNX is looking strong just now. U/D ratio is close to 2, suggesting institutions could be interested, we had a launchpad set up a few days ago but was followed by increasingly tight price action. Blue skies over 23.33 and this is a strong sector as well
CNXBreakout swing trade.. Initial stop loss set.. Selling half on a move up, then trailing the rest, selling pieces on up moves
Price Action Strategy for CNX (Swing Trade Approach)Hello Traders! CNX is making a valid pull back in price (Retracement) and I'm waiting for strong reversal candle stick pattern before entering a position:
1. Inside bar candle stick pattern
2. Piercing line
Hope you enjoy my analysis and hope you smash the like button
CNX LongWeekly Uptrend Consolidation
SMA 20/40 as support
OBV> OBV40
Entry 13.9
Stop 12
Target 27
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
$CNX Entering Breakout ModeDay long from over but looking like a solid breakout underway. Oil stocks are strong today.
CNX Resources Corp (CNX)- PRODUCES UNCONVENTIONAL SHALE FORMATIONS, PRIMARILY THE MARCELLUS SHALE AND UTICA SHALE IN UNITED STATES.
CNX bullish triangle Bullish triangle ascending seems like it needs to pass Resitance at about to 14.20 to take off
Long | CNXNYSE:CNX
Possible Scenario: LONG
Evidence: Price Action
This is my idea and could be wrong 100%
CNX Long on Pending BreakoutCNX looking to breakout soon.
I am establishing a small position now before breakout and will look to add to it if it can hold the breakout.
Expect a breakout in the coming days.
CNX - Is downtrend coming to an end or continuing?CNX has been in a downtrend since August but it's coming into major support at $8.35.
It has also been consolidating since early this year. Consolidation = energy.
The longer the consolidation, the bigger the energy released will be to the northern or southern direction. Cannot predict which way the energy will be released.
Trade setup 1 (long): Break and retest above $11.30.
Trade setup 2 (long): Bounce off strong support @ $8.35.
Trade setup 3 (short): Breakdown and retest below $8.35. Next level of support would be $6.40.
I noticed this is a very volatile stock. I can see why people are interested in it. Even if price bounces off $8.35, it will be coming into resistance at $9.28, then around $10 area, and then major resistance at $11.29.
It has a lot of work to do to become bullish in my opinion. To me, it's neutral/bearish.
CNX - Clean set up - This stock made its way onto our watchlist with the first bullish pin bar just below the 200 day EMA (First green arrow)
- We then drew up the trade plan with a bullish bias when the multiple inside bar pattern began to form with a stop loss below the formation and an initial target of $12 (previous event area)
- The trigger for entry was a break of the mother bar at 9.65
- The trade is now in the green and we have moved up the SL and reduced our risk
- Today we see a fresh bullish pin bar/inside bar combo, we will be adding more on the open tomorrow.
- Trading is not difficult if you are disciplined, Patient and have a plan.
CNX POSSIBLE SCENARIO BULLS AND BEARSif you like this analysis and most important find it useful please support with like. I am not a financial advisor and i do not reccommend taking any of my trades because of the risk. This analysis is purely for entertainment only and it is used only for a idea what could possibly happen with this stock in the future. If you have any questions please ask, i would like to answer.
