$TOWN Box Setup at Its 50 MAOne of the few financial names I am following with a box setup base around its 50 MA.
Townebank (TOWN)- HOLDING COMPANY FOR TOWNEBANK SERVING THE GREATER HAMPTON ROADS REGION OF VIRGINIA AND NORTH CAROLINA
TOWN trade ideas
$TOWN #TowneBank #Long #Pattern #AscendingTriangles #ZenModeNice trade here with some fundamental analysis also working with you.
P/E Ratio of only 9.23
Profit margin of 30%
Operating margin of 74%!
Price Target of $21
We are going long here if we tap the bottom of this wedge again and run a bullish candle afterwards with confirmation.
GL Trading
TOWN: POSSIBLE GAINSHello traders!
As you can see from the chart above it is possible to identify a support and a resistance line. The price has just touched the support line, showing a nice ONE WHITE SOLDIER PATTERN. This is why I think that there is a high probability that the price will go up till our target. Furthermore, the MACD shows that the bearish momentum is getting weaker and the RSI looks bullish.
Going long might be a good opportunity!
Remember to put a stop loss in order to secure your capital!
Not a financial advice.
Enjoy your trade!
TOWN short trade on trendline breakTOWN broke its recent upward trendline today, creating a short trade possibility with a small risk and high reward.
Factors leading to the decision:
Major trend is down
Minor trend was up, and today price broke and closed below it
20-ma was recently lost, pulling moving average traders off the sidelines
The recent high fractal pattern is also at the 20-ma and offers a perfect technical spot for a tight stop
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
TOWN < LONG > 100 YEAR OPPORTUNITY^Wave5CompletionAs the title suggests. Towne Bank is currently at the best price you're likely to see. A long term investment to carry you into the next century.
Expecting elliot wave 5 completion in the Summer of the Year 2098.
long / short TOWNTOWN
Looking at the cyclical life of TOWN , it looks like the stock may have some room to grow. I would say advise buying short-term call options at close to price strike price. The company does not perform as well on the balance sheet side. I would advise executing the right to buy stock when the option contract expires, only to minimize the risk of the option by turning it into a long position. If more information comes in suggesting that the stock will under perform, I would minimizing the long position, and buying short positions with some put options.
The opinions expressed are as of August 4, 2017, and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by Diego Alvarez to be reliable, and are not necessarily all inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Diego Alvarez. This material may contain ‘forward-looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Dependence upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, or any investment strategy nor shall any securities be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. This disclaimer informs readers that the views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee, or other group or individual. Diego Alvarez doesn't have any affiliation with Provectus Capital, nor receives any information, insight, or forecast, and does not have any communication with the firm.
