Short ROK to 120 (Its about to break)Once break the neckline, very soon it will drop to 120 area where volume was condensed.
TP: 120 P/L 28%
RWL trade ideas
ROK Board of Directors Approves $1 Billion for Stock RepurchaseROK: Rockwell Automation, Inc.
2018-09-06 16:40:00
Rockwell Automation Board of Directors Approves $1 Billion for Common Stock Repurchase
$ROK at major support...do or die $ROK at major support...do or die. Higher time frames still bullish. Worth taking a risk here with a small risk only
Rockwell Automation: Listen. Think. Short !!!I don't particularly enjoy selling stocks that i think are a long term buy however its screaming at me to get short:
A. Bear Range Recoil
Range set from Jun-Oct'15 98.50-128.50. Broke south on first wk of this year.
B. Trend line support break
on the penultimate test of the lower range we broke a long term trend line set up from 2009.
C. We are sat under former resistance level at 118.50 and at the same time formed a H&S shape using the broken long term trend line as its neckline.
D. Break of 110.45 will set weekly leaf pattern (as well as taking out the neck line as mentioned in C).
This Trade Will Rock Your World, Rockwell Automation (NYSE:ROK)A few weeks ago Rockwell Automation (NYSE:ROK) came out with earnings and the stock got rocked. It had a single day decline of over 5% and shareholders of this name were none to pleased. The share price of the industrial automation company continued to fall for another couple of days before finding a low at $109.80. Since that low was put in, Rockwell Automation (NYSE:ROK) stock has slowly clawed its way back and has nearly gained back everything it lost on earnings day. This is where I see a potential for a great short trade to profit from. If this stock continues to rise, the level I have isolated as an entry point to short is $120.50. That is roughly the area where the breakdown occurred and also the 50MA is sloping down and will act as good resistance. If this trade does trigger, investors could see Rockwell Automation (NYSE:ROK) stock fall down to $115.50 rather quickly.
Come trade with us as we provide calls like these from the past month and more. Get our live trades exactly when we enter and exit the markets for profit... step inside the Elite Round Table now and don't look back!
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader
Join the Elite Round Table on Facebook
