COTY trade ideas
COTY broke out of the flag patternNYSE:COTY consolidated for a long time and is now ready to move forward. The stock broke out of the flag pattern, any pullbacks is an opportunity to buy. The anticipated price movement with the 3 targets are shown on the chart, stop is 6$.
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This is only my own view and not financial advice, do your own analysis before buying or selling
Happy Trading!
COTYLooking Bullish, from November to December it had a 171% run and after that is has been consolidating and it just popped above the resistance line looking for a second run.
COTY ready for another move 60%COTY looks as if it is ready to make another move..it is currently resting comfortably above the 300 day moving averages...also getting ready for a 300 day ema/sma cross...rsi is above 50 and macd is flattening out in positive territory...my target is $11.00 (60% gain from current price)...IT'S YOUR MONEY, DYOR
COTY - Long again - going for 9-ish first - Great R/RThe first setup got invalidated and I got taken out by an obvious stop hunt... it happens.
Now it seems ready to rally and we could see a follow through day now.
I suggest using the low at 6.20 as a stop if you're more a risk averse type
or previous days lows if you're a more aggressive trader.
Price needs to break above this 6.9x zone first though.
$COTY - Our old friendThis guy head faked us a couple weeks back. All good, been looking for a re-entry. Earnings coming soon. Anything above $6.90 and could this finally breakout to the upside? Watching tomorrow.
COTY longDescending channel, more buy points at support. Trading for an upward breakout, long-dated calls as this play might require patience.
$COTY - coilingLet us see how this set up and coiling works out.
I put this in my brother's port. Commons with limit sell to collect his gains while we are not looking.
If we hit $7.5 that will be a nice 15% winner for my reserved brother
$COTY. Bullish Triangle StructureTriangle presents a balance of forces between buyers and sellers, causing a sideways movement that is usually associated with decreasing volume and volatility. This pattern subdivide into 3-3-3-3-3 structures labeled as A,B,C,D,E.
It is a continuation pattern that breaks in direction of the preceding move. It could occur in wave 4 in an impulsive structure, wave B in a zig-zag, and wave X connector in double and triple threes Elliott wave structures. It could also occur in wave Y of a WXY structure in which case it marks the end of correction.
$COTY. Bullish divergence on 1M on MACD. Very high potential. Bullish flag and big accumulation in it. Seems that we can get our 200% percent here. Target price - 20%! A big player detected.
Possible 69% play Currently in a descending triangle so it might go down quite a bit, however, stonks only go up therefore based on the fundamentals, this will be going upwards 69% here shortly.
$COTY - Going back to review what happenedLooking for another potential entry point on $COTY after getting stopped out a couple of days ago. Thoughts?
Bull Flag on COTY: Breakout Would Bring Big UpsideBull flag has formed on COTY. I will be watching price action in anticipation of COTY attempting another breakout of that top resistance line...If a breakout occurs we could see some bigtime upside to $12+....COTY will release its earnings on February 3rd and with all signs pointing to a beat, I believe this could be the catalyst for that breakout and big upside.
COTY - Long - Bullish StockAfter two months of bouncing between $6.50 and $7.50, the stock saw lows in the range of $6.20. This occurred on significant volume with earnings occurring in less than two weeks.
From a technical standpoint, the stock appears to have met a new resistance between $6.00-$6.22 (See graph for details). The fibonacci next resistance would be about $5.90, but I believe that is lower than the actual resistance based on previous price action.
If the stock goes below $5.90 per share, I will consider exiting my position, but until then, I believe we are set up for a push back higher to the $7 range before earnings.
From a fundamental perspective, this stock is very bullish. Luxury brand sales are at an overwhelmingly high demand (see multiple specials and articles by WSJ and CNBC). China retail demand is high. Plus, COTY just sold a portion of its business and received nearly $3b to pay down debt. Additionally, it acquired Kim Kardashian's beauty line. And of course, it has Kylie Cosmetics, which has recently expanded to new regions. And the Exec. VP was just quoted in a magazine saying that their Cover Girl brand had an unexpected surge in demand on Amazon Prime Day.
I think we see an earnings beat and a significant jump in the stock price to reflect a multiple that is more in line with competitors like Estee Lauder and L'Oreal.
I'm long on this stock. With this dip, I averaged down and picked up some cheap February 19, 2021 call options in anticipation of a strong earnings report.
Edit: Also, on Friday with the dip, out of 49k options traded, there were 42k calls picked up.
$COTY and $PLTR - a look back at this past week$COTY was my first losing trade of 2021. But I wanted to go back and see what happened when compared to my winning trade on $PLTR.
As you can see both had great runs a few weeks prior. They both then consolidated, and bounced around the new volume shelf. On Friday however, one broke one way and one broke the other way. I would trade this setup again if it presented itself. I think most of the time this would break in the upward direction. It's possible that this was just a good old fashioned shake out, and it took out some stops below. There are more gaps in the run up on $COTY and it's possible some were pushing to fill those gaps? Not sure. Only other difference I could see was that $COTY closed below the 20MA the day before. $PLTR was still above the 20MA. But it wasn't so far below to ring any alarms. Seems like typical chop around a level of interest.
Anyway, let's see if $COTY offers another entry later, but I have moved on and now looking at other opportunities.
Any thoughts on why $COTY broke lower Friday? Let me know in the comment, would love to hear other's takes.
Bull Pennant on COTY: BREAKOUT= MAJOR UPSIDEA Bull pennant has formed on COTY and looks like it will attempt a breakout soon... If breakout is confirmed I expect to see some major upside to the $12+ level... I will watch price action as it approaches bottom support line and if it reacts as I anticipate I will strongly consider buying mid-February expiration call options
$COTY - BummerWell, didn't break how I wanted it too. Moving on. Hit my stop loss. Ironically my other hold PLTR was almost the exact same setup, and broke like I expected it to today. You can't win them all.
For $COTY, if you're still holding, I would now watch out for those gaps it could fill on the way down. I'll keep an eye for a potential future entry.
