Allianz touching resistence line, might shoot upHi guys! This is my first published chart. As you can see it is touching the resistence line so the price could go up in the future.
Things to consider:
the exponential moving average shows that the price is below the line
RSI is decreasing
Volume decreasing constantly
If the trend reverts the target will be 230.
ALV trade ideas
Allianz Breakout, Middle Term Swing Trade on good ERAllianz just announced excellent quarterly Earnings over analysts expectations and good guidance.
Thus we saw a 2+% jump after ER day, but got crumbled by bad future market leaving the 2 important supports EMA 50 and SMA 200 behind.
ALV trumbled months back in a short downtrend which still isn't completely out of fokus but the stock has proven to keep above the upper downtrendline even in a bigger market sell off.
The stock is currently valued at a PE ratio of 10, dividend of over 5% in 2019 and a future PEG ratio of 1,4 (sector at 4).
Average analyst rating of "overweight" (15Buy, 1 Ow, 12 Hold, 0Uw , 0S) and a PT of 215€. Fundamentally thus a strong stock.
So if you are not bearish on futures , this is a good opertunity. It's main future, the DAX , is currently also in an oversold state.
Stop loss shouldn't be at EMA 50, I set it at the upper downtrendline at 176€. TP at 219,50€. Additional TP could be set at 200€.
Note, this is a repost since first one was posted in a different language Tradingview
sell off goingAllianz presented good earnings and left its extended sideways consolidation to the downside. I watch at several factors here to find a target.
First of all the 13 EMA crossed the longer 48 EMA which ends the uptrend that started in late 2016 and pulled trough the year 2017. A 24% correction should be the minimum which corresponds to a correction wave C extending wave A by 162%. This brings us down to 184€ per share, or roughly a 5% drop.
Around the same level there is a recognizable candle on September 25th which moved the price about 4% on a single day, as well as on September 11th with an even longer candle. hoping that there are some buy order left to fill sitting in the market we can put our orders in at around 182€ per share and hope that the order gets filled in the coming days. otherwise watch out for a reversal candle. We can't buy before that because we otherwise have a too bad risk reward ratio to take the trade which otherwise seems to be legit.
Turnaround possibleEverything is possible always. Currently I am searching for stocks that are in sideways consolidation and have a short term Bollinger band reaching outside of the longer term Bollinger band. This gives me the possibility to position myself to play for a retracement to the opposite side of the channel and gives me a meaningful stop loss outside of the short term Bollinger band. The Allianz stock seems to be a perfect candiate for this to work on. Sideways consolidation for some time now, but always stopped by strong buy orders around the channel bottom. Currently the volume is declining, after a reversal doji has appeared two days ago. The lower shadow of the doji can be used to place a stop loss right under it as well.
Target is the upside of the current channel and potentially a range expansion breakout from the Bollinger bands thereafter.
Allianz close to ATH @170,01As long the support zone around 154 is in place ALLIANZ, 8th largest DAX titel with a market cap of about 74 Mrd. we have the chance to reach the ATH @ 170.
If Allianz will even reacht highter levels....the sky the limit, and thsi would push DAX closer and even above his ATH @ 12.400.
We simply have to wait for it.
Trade would be possible with a SL @ about 154,30 - 154,50
I will buy the brakout above 170.
Successful trades.
Bearish Gartley on daily time frame with a perfect AB=CDImportant: :-)
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