B trade ideas
AnalysisHi...! Here we are in a bullish channel situation. In addition, we are in an uptrend and we will not go against this trend and also we are above the vwap and this reinforces our bullish position. We could, however, have a continuation of this trend if and only if resistance is forcefully broken by a large green candle and followed by large green volume. On the other hand, for there to really be a reversal of the trend, the vwap as well as the support must be broken with force by a large red candle and accompanied by a large red volume. Thanks.
Barnes Group Inc
Upcoming Earnings today for Barnes Group Inc (est: 0.84) a miss could see Barnes re-test the top side of the rising channel. Anywhere inside the channel would be considered bearish for the short to medium term at least.
If expectations are met or beat, low 70s would be the first target to consider.
Long $BBreakout of triangle consolidation to the upside gives us a good chance to test previous highs so long as the upper triangle edge holds as support. Buying while the market tests the support gives us a nice tight risk window. I'm going long at the next open, and it won't take long to discover if the breakout is real.
possible reversal, profit zone is greater then cost of buy putThe fib is placed from the x to a leg, the 2nd fib is placed from the c to d leg.
Fibs are lining up with prior support and resistance.
The gartley extended into a prior high, possibly forming a double top.
The buy side of a put option is $1.85 dollars at the $40 strike price for 89 days out,
for 180 days out the $40 strike price is at $2.60.
where the current fibs line up, it is in a profit zone and outside the break even.