Cup and Handle Earnings 10-22 BMODGX fell from a bearish rising wedge and forming a CUP and Handle pattern
C&H patterns are only valid over long entry level
Earnings are tomorrow BMO
Possible stop under 116
NV is increasing
Short interest is low
Possible Target 2 159.3 166.6 (Long Term)
Risky to trade before earnings
This one seems to be in the right place at the right time..but who knows?
A company can beat earnings and go down, or miss and go up
Not a recommendation
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services. It offers diagnostic information services primarily under the Quest Diagnostics brand, as well as under the AmeriPath, Dermpath Diagnostics, Athena Diagnostics, ExamOne, and Quanum brands to patients, clinicians, hospitals, integrated delivery networks, health plans, employers, and accountable care organizations through a network of laboratories, patient service centers, phlebotomists in physician offices, call centers and mobile paramedics, nurses, and other health and wellness professionals. The company also offers risk assessment services for the life insurance industry; and healthcare organizations and clinicians robust information technology solutions. Quest Diagnostics Incorporated has a strategic collaboration with hc1; and strategic relationships with Clinical Genomics Pty Ltd and Anthem Inc. The company was founded in 1967 and is headquartered in Secaucus, New Jersey.
DGX trade ideas
LONG $DGX ER run up ($MRNA $GILD $INO $SPY)see charts at www.tradingview.com
$DGX Entry 120
Target 1 $125
Target 2 $130
Why DGX?
FDA Authorizes Quest Diagnostics COVID-19 Nasal Specimen Self-Collection Kit for Emergency Use
With Covid wave 2 on the rise, this could be a huge player.
www.prnewswire.com
What is DGX?
Quest Diagnostics is an American clinical laboratory. A Fortune 500 company, Quest operates in the United States, United Kingdom, Mexico, and Brazil. Quest also maintains collaborative agreements with various hospitals and clinics across the globe.
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
Watching DGX for a breakout!DGX has been seeing some decent accumulation trading in a tight channel since its recent drop from 130 ATH level. On Friday, it finally broke the 116-118 consolidation range to reclaim the upper channel on good volume and managed to close above the $ 120 level as I wanted. With ER this week, expecting the uptrend to continue and I will stay in the play as long as the $ 118.50 level holds as we have time on our side. I picked up a few $130 11/20 calls for $1.90. These contracts weren't inflated despite Friday's move ( 1.80 was low of day and $ 1.35 was the previous close) so expecting a favorable move on the stock to get a good return on these contracts.
Disclaimer: The above ideas are my own and should not be treated as investment advice of any kind. Please do your own research before investing.
$DGX is Facing Technical Make-or-Break MomentDGX is at the heart of the booming COVID testing trend. The stock recently broke out above the key $120 level. Now it faces the potential for that breakout to fail and trigger orders down to the $116 key support where we have confluence between the 50-day MA and the upward trendline.
Longs don't want to see this busted.
$DGX Potential breakout ($MRNA $GILD $INO $SPY)see charts at www.tradingview.com
$DGX Entry 109
Target 1 $111
Target 2 $114
Target 3 $122
Why DGX?
FDA Authorizes Quest Diagnostics COVID-19 Nasal Specimen Self-Collection Kit for Emergency Use
With Covid wave 2 on the rise, this could be a huge player.
www.prnewswire.com
What is DGX?
Quest Diagnostics is an American clinical laboratory. A Fortune 500 company, Quest operates in the United States, United Kingdom, Mexico, and Brazil. Quest also maintains collaborative agreements with various hospitals and clinics across the globe.
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
DGX - Cup With HandleI. Analysis
1. Text book cup with handle formed on the daily timeframe;
2. Volume increase at the right side of cup, volume decrease at the handle formation;
3. Stock in a short term uptrend as 20MA shows;
4. Price action wise, the price should have bounce way lower after that highs breakout and rejection right? Well, buyers are willing to buy near this resistance level. This is a good sign of strength. Our bias is long;
5. Also deem this resistance level as a value zone. A stop loss set below handle's low and hit would invalidate the trade. On the upside the depth of the cup entails a relatively big profit potential;
5. Bullish engulfing pattern formed in the last session could be the entry trigger we were looking for, for more aggressive traders;
II. Trade
1. More aggressive traders would go long on the next candle using the bullish engulfing pattern as an entry. More conservative traders would go long on the breakout and hold of the previous highs;
2. SL 1 ATR below low of the handle;
3. TP tracing swing lows or at a cross below 20MA for trend followers and at the next swing high for more pain averse traders;
Cheers
Ruben
DGX CLOSE TO BUY SIGNALHELLO PEOPLE!
LOOK AT THIS STOCK , LOOKS GOOD FOR A BULL RIDE. WE CAN SEE ON THE HOURLY CHART A BULLISH PATTERN ( BULL FLAG ) WE ALSO ABOVE A SIGNIFICANT SUPPORT LEVEL AROUND 88. BREAK OUT CAN LEAD TO A NICE MOVEMENT TOWARDS THE RES AREAS ( LOOK AT THE GREEN LINES ). MOVING AVERAGES LOOKS BULLISH.
DGX Approaching Resistance, Potential Drop! DGX is approaching our first resistance at 86.76 (horizontal overlap resistance, 23.6% Fiboancci retracement, 100% Fibonacci extension, elliot wave structure) where a strong drop might occur below this level pushing price down to our major support at 83.28 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
DGX - LongI think that good time to BUY DGX. Just like AON.
Judging by the indicators, the company does not expect much more, as for example, from AON, but I really do not expect too much from DGX. From the point of view of technical analysis, I like DGX very much. Therefore, I will get it as difersifikatsii portfolio.
P/E 16.61
Forward P/E 15.08
Open 104.20
SL 102.91
TP 109.36
Good Luck!