DK - Daily - Earnings PlayClick Here🖱️ and scroll down👇 for the technicals, and more behind this trade!!!
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📈Technical/Fundamental/Target Standpoint⬅️
1.) Holding a major support line at $25.22. From a weekly perspective, this has bottom out and is just waiting on a catalyst to move.
- Further confirmed by the fake head and shoulders around September 2023.
2.) Analyst forecast include Goldman Sachs, Morgan Stanley, Chase, and more, which indicates this ticker has attracted attention from big money.
3.) Currently working with the Department of Energy. Also indicating the governments awareness of this ticker.
🤖Trading Bot Stance⬅️
1.) Market makers became active again on 2/15/2024, which indicates that momentum could be building up into earnings.
2.) The last 14 periods were flagged as green, which indicates a bullish sentiment.
3.) Its trend status has a double bullish confirmation.
🌎Global Market Sentiment Approach⬅️
1.) Mostly long trades until rate cuts go into effect.
🐳Bot Round Table Analytics⬅️
1.) 53% likelihood that the month of February 2024 will close in green.
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....⚠️Position Progress Will Be Posted In ....
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✨ Moving Averages(MA):
DK trade ideas
DK: 200ema supportDK (Delek US holdings)
Nice risk reward here on $DK for a swing long. A few reasons I like it:
-with T D sequential reversal 9 daily ,
- support of 200ema,
-and RSI at the lows.
I will wait until the end of the trading session today and see where it goes before entering a small swing.
Trade safe.
DK Hedged Options StrategyDelek US Holdings, Inc. is a sprawling downstream energy company composed of three segments: Refining, Logistics, Retail. It owns 4 refineries located in TX, AK, LA as well as 3 biodiesel facilities in AK, TX, MS. Its Logistics department gathers, transports, and stores crude and refined oil/products for themselves as well as third parties on hundreds of miles of pipelines. Along with a crude oil gathering system that's ~900 miles, DK also has the capacity to store ~10 million barrels. The Retail segment has 248 convenience stores in TX and NM to sell various grades of gasoline and diesel under the DK or Alon brand, which also make a profit selling other products found at gas stations such as food, alcohol, tobacco. DK's customers include oil companies, independent refiners, distributors, utility and transportation companies, the government, and independent retail fuel operators.
DK hit above the MA lines for weeks and looks like it's trending up. The recent growth seen in the energy sector could be considered in its early stages with midterm politics settling down and the market rising with expectations of gridlock. However, the SPX SPY DJIA charts do not show a clear direction, and there could be some worrisome chopping ahead.
This conservative strategy can make up to 11% (25% annualized) while allowing DK room to drop 25% as of April 21, 2023 before any loss.
Buy 1 $32.50 Call 4/21/23
Sell 1 $35.00 Call 4/21/23
Sell 1 $25.00 Put 4/21/23
Capital Requirement: $2500
Win probability: HIGH
Too many oil companies look good. DK is another. "Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels"
It's pushing into an 800+ day high. Not financial advice, so look for this one to push above $30 on good volume for those paper trading accounts. $30 should serve as solid support as Raymond James and Piper Sandler have price targets of $32 and $41 respectively (Not suggesting that there is veracity to what these people think. Only that this may bring in the fundamental traders to defend this territory). 14-day ATR is ~$1.50. So paper traders could set this as a trailing stop once at $31.50 or so, loosening if it moves higher.
Watch the gap from the first third of May. I imagine that there are quite of few orders down there that may lead to a shake-out.
Below $26.50, the idea is broken.
DK - Cup with handle forming?This looks like a cup and handle formation for DK - I'm thinking that it may correct down to between the .5 and .786 level before rebounding. And then the upside looks to be in the 40's. I'll be contemplating a purchase as it nears the bottom.
Also note that the the 100 SMA is crossing up the 200 SMA.
Good luck!
1H divergence playing out on DK This is a stock that has beaten down and is bouncing off the .786 fib on larger time scales. Once it breaks the .236 you could see it hit the .618 on the smaller time scale. This is a position I will be taking, not a recommendation. Let me know you're thoughts below and best of luck!
Carl Icahn buys $11.5 Million in stock $dkDelek US Holdings, Inc. engages in the transportation, storage, and wholesale distribution of crude oil. It operates through the following segments: Refining, Logistics, Retail, and Corporate and Other. The Refining segment processes crude oil and other purchased feedstocks for the manufacture of transportation motor fuels, including gasoline, diesel fuel and aviation fuel, asphalt, and other petroleum-based products. The Logistics segment gathers, transports, and stores crude oil and markets, distributes, transports, and stores refined products. The Retail segment markets gasoline, diesel and other refined petroleum products, and convenience merchandise through a network of company-operated retail fuel and convenience stores. The company was founded in 2001 and is headquartered in Brentwood, TN.
DK at bottom of trend channelDK is at a support level now. The idea is that it will stay within the trend channel.
There are 2 ways to play this:
1. Enter now for max profit (upside > 25%)
2. Wait for confirmation
I choose plan 1 and buy now. Tight stop loss, target 65.
Link to profile on marketwatch:
www.marketwatch.com
DK - Bullish Swing TradeThis is a bullish swing trade I am considering entering tomorrow. I am going to watch the markets closely to see how they open tomorrow as well as the oil market. I liked the crude inventories number that came out this afternoon which I believe could help boost oil prices as well as the price of oil stocks. Whether I enter this trade or not will depend on several things, the overall market, the oil market and the price action of this stock.
A 4 dollar trade in $DK with break of necklinePossible IHS
This chart is made for the FREE BLOG at our website.
DK is in an almost symmetrical IHS pattern.
As always...only becoming a valid pattern with a decisive break of neckline.
Resistance right now at Gann angle and showing negative divergens.Have to take both out.
Target: 29.50ish
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