LKQ Corporation Announces $500 Million Increase in Stock RepurchLKQ: LKQ Corporation
2019-10-31 05:56:05
LKQ Corporation Announces $500 Million Increase in Stock Repurchase Program; Total Authorized Now $1 Billion
LKQ1 trade ideas
LKQ Corporation Announces $500 Million Stock Repurchase ProgramLKQ: LKQ Corporation
2018-10-25 06:00:00
LKQ Corporation Announces $500 Million Stock Repurchase Program
Ascending right triangleCould be retracing. Would consider taking profits early and not expect a complete correction into the $40s. Not trading advice, just my opinion.
Volume Needed to ConfirmNice break from multi-year base, but light volume looks suspicious, as does this weekly candle so far. Solid fundamentals but heavy institutional sponsorship (95%+ here) without volume suggests it may be susceptible to rotation. No position, could be short on a break below ~35.
Watch and stay tuned for "LKQ" Bomb or Bounce (4HR)
This chart I have setup is more intriguing than your average angle chart. The stock is nearing the end of its current trend (4hr candle interval). I would feel comfortable going long on this stock while being weary of the first candle, I will explain...However I would form a second position (short) with the stop loss in the same zone as the long position to reduce risk. LKQ Corporation is reporting for the quarter ending December 31, 2016. This is a automobile (truck) company that caught my eye due to the fact that it is exhibiting extremely high relative volume. Consensus earnings per share forecast is $0.39. This value is a 21.88% increase compared to the exact same quarter last year. Within the past year, LKQ has met analyst expectations twice and beat the expectations for the latter two quarters. Credible Source reports that the 2016 Price to Earnings ratio for LKQ is 18.13 vs. an industry ratio of 21.00. Watch out for static in the first candle folks. This seems to be a trend where people base their opinion, and position execution off of the industry ratio. Drives me crazy that people have the gull to judge a company by solely industry standards. That's like judging a firms quarterly profits without even peeking at the balance sheet....disgusting!! These are people you definitely want to keep a 10-foot radius away from.
Thanks for your time!
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LKQ- possible H&S short formation at the break of $30LKQ seems forming a Head & shoulder formation, but its yet to break below its neck line. If it can break below $30, it will be a good shorting opportunity.
*Trade Criteria*
Date first found- February 9, 2017
Pattern/Why- Possible Head & shoulder formation
Entry Target Criteria- Break of $30
Target & Stoploss - TBA
(Note: Trade update is delayed here.)
LKQ Day Trade Perfect Gap N Go (Brad Reed Feb26,2015)LKQ expected to open at 24.20 for a Perfect Gap N Go. To learn to trade this strategy for free go to www.RealLifeTrading.com
