4KDP trade ideas
KDP - Possible short positionDears,
KDP is heading to all time high resistance, if the resistance is broken, then possible retest at $37 then it will go higher.
Looking to this from different perspectives, i think this is going lower after hitting the resistance at $37.
Once this confirmed, i will open a short position, most probably PUT options for middle 2022.
Let me know your thoughts.
Thanks,
Sam.
KDPAll textbooks on technical analysis state that the reverse H&S pattern cannot be at the top. However, new studies say that the reverse H&S at the top can be executed, I have traded such a pattern on #TSLA, #FB and a number of other securities, and statistically this pattern has a fairly high reliability. The same pattern is now formed on #KDP, with the target of rising to $ 41 (up 31%).
KDP BreakoutGameplan:
Entry: $32.28 Above Figure
Stop: $31.19 Below Figure
Target: $40 Phycological Figure
Setup: Bull Flag
Key Levels: $31.50, $32, $35, $40
I really like this setup because it has technical formation and it has been consolidating for a decent amount of time making it ready to push past previous all-time highs and to hold the $32 area. Another reason I this setup is because of the risk reward, it is set a solid stop located below the recent pivot and has room to push to create new highs in the name.
$KDP Nice Bullish setup supported by volume targeting 34.28Bullish candlesticks setup with huge volume on daily chart. Opening higher will lead to 31.5-32.5-33.2-34.28 ... Keurig Dr Pepper, Inc. engages in the production and marketing of non-alcoholic beverages. It operates through the following segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment includes manufacture and distribution of finished goods relating to coffee, pods, and brewers.
KDP - Breaking out or breaking downKDP is oversold on the weekly chart in regards to indicators. The past 3 weeks/candles show us strong buying pressure at these levels indicated by the long wicks.
VWAP has settled under the price as support, and Q4 is typically a strong sales quarter for soft drink manufacturers.
Within the next week, the price action should break above the resistance trendline and present the opportunity for 6-8% profit.
We will set a tight stop at 3.73% or 27.60.