0S23 trade ideas
EPD: a great long term dividend stockMost of my ideas are illustrated in the chart. Strong fundamentals. It's an oil and gas based company, I'm trying to stay away from tech as I feel it's overvalued.
Most likely on Monday I'm going to buy 80-100 shares and set up DRIP (reinvestment of dividends), and it will essentially be my only long hold. I won't set a stop loss, but I will watch it actively. Even in the event that it is drug down by a recession, DRIP will continue portioning up and decreasing share values, and when it comes back up it'll pay off.
Lemme know what you think,
-Kristian
Edit: Looks like my trend lines got disconnected from spx500, but you get the idea. When the time frame shifts so does the relative percentage/gain loss from the compared stocks.
EPD - Long from Downward channel support at $23.80 to $28.60EPD is running within a channel formation from quite a while, and reached very close to a long term support label. We would consider an aggressive entry here.
* Trade Criteria *
Date First Found- November 15, 2017
Pattern/Why- Downward channel formation, Long from Support
Entry Target Criteria- Break of $23.80
Exit Target Criteria- $28.60
Stop Loss Criteria- $22.87
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trading range or new bottom23 seems to be bottom but the next few days will prove the theory. Either way no reason to sell other than protect capital.
EPD in an interesting 3 wave positionI do not know what this business does, but it showed up 2 weeks ago on a scan so I've been following it.
It appears to have developed an interesting Expanded Flat pattern with 5 waves in the wave C down.
Some oscillator divergence showing, and inside relevant channel lines (Green).
A small move down this next couple days and then a Bull pivot as drawn in Pink.
Trigger long IF divergence stays in place and After the micro wave 5 down and Descending trendline break and move back into the Green channel.
Perhaps trigger at 26.66 long with a stop wherever the low comes in near 26.20.
Leaves enough room for a target up to 29.00.
LONG EPDA very well run company that has not slashed dividends... has little to no debt and is a leader within the MLP industry.
This is a long term buy and hold for me... I will reinvest dividends to cost average down if we fall more.
Ryan
Long EPD on a counter intuitive tradeI consider ascending or descending triangles among the more reliable patterns, but failures of these patterns can be quite good too. EPD has formed a descending triangle on the short term, but is also finding support at the uptrend line on the monthly.
It also coincides with a similar support level on oil spot price.
Coupled with good fundamentals, a long on EPD can be a good way to play the oil recovery.
RRR is optimal for this long term trade. Fading the descending triangle pattern here.
