Centrica - bullish divergence*investment opportunity*
A 90% correction since 2014 and following oversold condition there now exists an excellent opportunity to buy this stock.
The 10-day chart above confirms a regular bullish divergence between price action and the oscillators + higher low in price action. This is the start of a trend reversal. Price action is now in the bullish half of the Bollinger band as the mouth is constricting, which suggests a big move is coming.
On the fundamentals Centrica engages in the provision of energy and supply services. There is no end of ‘bad news’ stories on the business. Pay no attention. The only news you need is the headlines in the charts, and they look amazing.
A buy above 42 is good. 1st target 115
2-month chart - broken RSI resistance following oversold condition:
3-month chart - bullish morning star + confirmation
CNA trade ideas
Possible entry with high profit potential and low stop loss.A riskier entry but worth considering. Rising trend followed by a prolonged consolidation. Long entry without waiting for the breaking of the upper trend line.
CENTRICA ORD GBPCNA printing higher high and higher lows we can buy on 120.90 level with Taking profit level of 129.40 and 137.90
CENTRICA major turnaroundClosing the weekly gap could be a major triggering point for a major trend reversal while targeting a major resistance at 1.2£ area, at least.
For mainland Europe, Centrica might be an unfamiliar name. This energy giant, headquartered in the UK, on the back of climate change, undergoes a historical fundamental business model shift effort, while exiting energy exploration and production and trying to emerge as customers’ services and solutions company of the future.
CNA: completing the pattern?A price action below 82.00 supports a bearish trend direction.
Testing its 200-day sma. Crossing below this level will act as further confirmation for downside potential.
The level 78.00 is critical for such downside.
Target then 76.00 (lower range of the wedge pattern).
Remains a risky trade.
Centrica go down optimal go on short for 2 botomCentrica go down optimal go on short for 2 botom. What you men?
Centrica - setting up nicelyIf you have been following along then hopefully you took the neutral triangle trade. As you can see the E wave hit target at the price and time window (a nice 25% move). Now that this has played out we can begin to calculate the next buy price for Centrica. The thrust out of a neutral triangle is more 'trendy' than other triangles, but we can anticipate a 0.75 to 1 extension (max 1.618). I like the 1/1 extension as this has confluence with the 0.618 from the start of the move down in February and coincides with the bottom of the range. Price target is around 59 pence. Good luck if you're trading CNA.
Centrica PLC (CNA) - LongCentrica Plc engages in the provision of energy supply and services. The company was founded on March 16, 1995 and is headquartered in Windsor, the United Kingdom.
I quite like the looks of this setup more as a mid term play. The company itself is looking quite undervalued (to me) at the current prices. It also appears to be going through some restructuring to simplify things, which includes a deal to sell off its North American business.
Additionally we are moving into colder weather and a lot more people are working from home. Which will certainly help offset income revenues lost from commercial premises, which are likely to occur.
On technicals the monthly is oversold and weekly is not far off it either. It also seams a little range bound at present. Which may present an opportunity of a rise back towards the upper limits, giving 15-20% potential.
There is still downside risk as always. But the upside reward gives a potential 2:1 Risk/Reward play.
Good Luck.
Centrica - NeoWave Neutral Triangle trade planIf you follow me you will know that I have been expecting Centrica to retrace to the Golden Zone. It has finally hit target and I have entered the trade. My trade plan is based on a NeoWave Neutral Triangle. A Neutral Triangle is a five-legged correction where the middle wave C is the longest. To obtain the price target for the E wave you can draw a channel across the ends of waves B - D and clone this and position it at the end of wave A. As you can see the price target has confluence with the 0.618 from the swing high to low. A time target can also be projected because wave A and E tend to be similar in terms of time. After the conclusion of wave E, the thrust implications are between 75%-100% of wave C (but can extend to 161%). Good luck if you are trading CNA.
Golden Zone retrace for Centrica?I've had August marked off as a significant pivot low for a while now and Centrica fits in with this narrative. My current trade plan for Centrica is a GZ play and I'm patiently waiting for the correction to conclude. As you can see I have this as a flat correction and I am waiting for a matching move to bring Centrica down to the 34 pence region. There should be a reaction at the 0.618 as this has provided historic support and resistance (as well as having confluence with a possible Elliott Wave count). If this plays out a tight stop can be placed below the GZ and target the range highs or something more. If price breaks the current range then be prepared to adapt. Good luck if you are trading Centrica!
CNA BUY OR LONG TARGET UP TO $56The list of UK stocks had some difficulties recovering, but now everything is fine as the UK100 overall index shows good strength, so
CNA continues to return to conquer its old target.
CNA pattern : Triangle Symmetrical
Buy now : $43.45 +-0.1
Target : $56
Stop loss : $40
If margin with high leverage > 2x : stop loss : $41.5
Wish you trading success !
CNA BUY OR LONG TARGET UP TO $50The Symmetrical Triangle pattern is almost 100% confirmed .
Buy $39.50 - $40
Target : $50 (+-1)
Stop loss : $35.30
Wish you good deals!
Is this Centrica's moment?Almost a 10% rise today, and if there's momentum it could result in a move to 90p.
Longer term swing up on a downtrend stock - trade oppPotential trade to 112p or 129p
please check company fundamentals so you don't get caught out.
CNA 8 RRR shortReposting this since TV removed this idea earlier for containing links to my telegram group.
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
Shares pop after OFGEM provide more clarityThis morning the energy regulator OFGEM published its long awaited report on the energy price caps.
CNA were one of the best performers in the energy sector as the result was not as bad as first feared.
Ofgem pegged the limit for how much utilities can charge households on so-called standard variable tariffs at 1,136 pounds ($1,465) a year. That’s about 7 percent below the average SVT price. - Source BBG
#Centrica - 2 consecutive H&S patterns. Interpret that!No amount of technical analysis can interpret Centrica's
consecutive Head and Shoulder patterns.
Centrica: Will this be a H&S reversal?Centrica: Will this be a H&S reversal?
H&S island formed at CNA.
Will there be some substantive news in the future that
causes CNA to gap up as well to complete the Island reversal?
