KENNEDY WILSON Stock Chart Fibonacci Analysis 043023Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 16.5/61.80%
0JQI trade ideas
KW looking to go higher?* Great earnings
* General up trend
* High relative strength in the Real Estate sector
* Pays generous dividends
* Recently broke out the previous ATH from 2015 of $21.93
* Before that it consolidated between 18.66 and 20.46 for ~5 months
* After breaking out of $20.46 it create a base on top of base pattern and consolidated for ~2 months before breaking previous ATH
Trade Idea:
* You can enter now as indicated if you don't mind a little volatility
* Or you can wait for a slight discount by looking for entry opportunities near the 21.93 to 22.12 range
Note:
* This may be forming a higher handle to a cup and handle pattern. The rounding price action between 20.92 and 22.12 would serve as the cup.
KW A GREAT DIV STOCK 5.42% Yield KW has been gradually raising its dividend payment for the past 9 years. The current dividend annualizes to 88 cents per share, with a yield of 5.42%.
JPM’s 5-star analyst Anthony Paolone is bullish on KW, writing, “We think the combination of the dividend yield, growth in NAV/share in the mid-single-digits that should return in 2021/2022, and the potential to narrow the NAV/share discount should all combine for a compelling IRR.”
Getting into some specifics of KW’s business approach, Paolone underlines the reasons for a bullish outlook: “We particularly like its focus on value-add apartments in the Western U.S. and its developments in Dublin. The stock’s NAV discount offers an attractive entry point, and we see core growth, development/re-development, and growth in its investment management business as all driving NAV/share higher in the coming years.”
When the Feds gave Companies money they were told not to PAY DIVIDENDS OUT FOR 12 MONTHS. Many Investors count on dividends, KW stock is down today and currently at $15.01 a share. Opportunity is knocking.
KW Ascending Channel SMA100 bouncePros:
- Hammer like candle with good volume. About x2 the normal recent green days volume
- FI Divergence
- RSI Similar bottom levels eventough price traced lower low
- Acc/Dist traces higher point eventhough price traced lower low
Cons:
- EMA still pointing down
Double bottom - ZoIAnother "easy" one... i don't know if i should explain this one because it looks like almost all my scenarios.
Double bottom, value zones broken (Accumulation process)
If you have any questions... feel free to ask me.
Bearish weekly technicals, ascending wedge break downKey points
1) Confirmed break of ascending wedge beginning November 2014
2) Break of 50 week moving average
3) Lower highs and lower lower price structure
4) Large volume indicating distribution by large holders
5) RSI not oversold so short entry timing is reasonable
6) Note double lower bollinger band rejection could be viewed as bullish, but in the context of the price structure (weekly lower highs and lower lows) the bounce which has occurred should be viewed as having provided us a better short entry, rather than getting long.
