0R32 trade ideas
Bullish EngulfingBullish engulfing candles indicate immense buying interest that swallows the range of the prior candlestick low and surpasses the candlestick highs. The buying action is frenzied as the candle usually closes at its highs with little to no upper wick. This in turn triggers more buyers who spill over into the next candle. If the next candle closes higher than the bullish engulfing pattern, the next leg of the uptrend usually forms. www.investopedia.com
9.4.17 | ANF | Rising WedgeANF
(Code-Name_Virtue) Minor/Secondary Trend Press Release
Price has completed a Big W chart pattern and is now forming a Rising Wedge chart pattern. There is $.49 of daily volatility left in the Wedge with many strong supply values that price will be trading in if it continues bullish on Tuesday. The consensus is that price is going to reverse bearish this week, it may continue bullish on Tuesday due to the shopping from the holiday weekend however selling the high of tomorrow is sensible speculation.
(Keymaker)
Entry: Sell the high of the intraday chart.
Target: Exit when you're comfortable.
Stop: Use a 1:3 risk reward ratio.
Please scroll down for more charts based on this analysis.
I JUST BOUGHT ANF!Fib retracement after initiation of new uptrend. Low risk entry. First target pierce of $12.
OUT 2ND HALF ANF POSITION!In the money stop out on 2nd half of position.
Entry: $10.95
1st half: $11.24
2nd half: $11.25
Profit: 2.7%!
OUT 1/2 POSITION ANF!Out 1/2 position ANF at $11.24. Holding 2nd 1/2 and watching this little bull flag forming.
OPENING: ANF "MONIED" COVERED CALLHere, I'm going covered call because ANF has a small divvy that I want to attempt to grab (.20/$20 per 100 shares), so I need to own the shares to do that. The record date is 3/3, so I will need to hold the shares until at least then. I'm going monied because I just don't trust this thing not to implode somewhat post earnings ... .
Metrics:
Probability of Profit: 73%
Max Profit: $52/contract (+$20 dividend)
Max Loss: $948/contract (assuming the stock goes to $0)
Break Even: 9.48
Notes: Naturally, I'm hoping that the 10 short call stays ITM post-earnings. If it doesn't, I'll be rolling that out to reduce cost basis in my shares. I'll otherwise look to take the trade off as a package for $10 after the date of record, since that's cheaper than being called away (for which there is an onerous fee).
possible bounce back for ANF only because it is over sold..
(i already shorted this 2 days ago and covered Today)
after the last 2 days of free falling
, today we'll see a little bounce back up a little then drop back down a couple percent.
EARNINGS PLAY: ANF NOV 25TH 14.5 SHORT PUTPutting this on a touch early ... . High implied volatility rank/high implied volatility in advance of earnings. I'm looking for a volatility crush after earnings announcement and, of course, bullish or sideways movement ... .
Metrics:
Probability of Profit: 74%
Max Profit: $48/contract
Max Loss/Buying Power Effect: $1402 (assuming the stock goes to 0, and you do nothing); buying power effect is broker dependent)
Break Even: 14.02
Notes: I'll watch this closely. If I get bullish movement plus an ensuing volatility collapse, I'll look to take it off near worthless. Alternatively, if it breaks the short put, I'll roll it out for additional credit, as I'm not particularly interested in owning the stock.
ANF at support going back to last century.Technically Speaking
Trading a levels that have proven reliable going back to 1998.
What to do?
News flow is all bad. Will this company turn it around?
Question is, what are you willing to bet to find out?
Bulkowski's Ugly Double BottomsUgly Double Bottoms: Identification Guidelines
Characteristic Discussion
Price trend Downward leading to the chart pattern. For best performance, choose patterns at the bottom of the downtrend, not as part of a congestion region in an uptrend.
Shape Looks like a double bottom with unequal bottoms. The second bottom should be at least 5% higher than the first, be similar in shape, and a consecutive minor low (no intervening low).
Volume Recedes 81% of the time
Breakout Upward when price rises above the highest high between the two bottoms.
Confirmation The pattern confirms as a valid one when price closes above the peak between the two bottoms. If price does not close above the confirmation price then it's not an ugly double bottom.
ANF Possible ReversalANF has solid fundamentals, 50% below its 52 week high along with being 5% above its 52 week low. It also appears to be transitioning into a bullish state. I also found an article on Yahoo Finance pushing it as one of 5 stocks to buy. Entry $15.95 Target $22.53 if not more.
finance.yahoo.com
finviz.com
Swing Trade opportunity in ANF : LONGRSI bull Divergence and my custom indicator point to a swing trade for Long in ANF
I took a long position at 16.85
Stop : 15.84
TP1 : 18
TP2:19.8
TP3 : 22
I had posted a similar trade sometimes back which yielded me close to 20%
