$FUN stops here; bearish expanding triangleTake a look. Will try to short this. Can even make a case for head and shoulders forming as well but for patterns sake there is a bearish expanding triangle here.
WSL.
FUN trade ideas
FUN - Dip and Rip with close Stop LossDip and Rip setup. Stop at $49.
Kick-ass volume in recent weeks on the way up. Low volume on the way down. I think it had a T1 bank upgrade just a couple days ago too.
Cedar Point: The best park in the worldIf they keep developing this park the way they have been the past 20 years you can expect another 1000% rise in share price. This is not mentioning their other parks around the country, most of which are not notable but do generate revenue. They also have a reputation for putting competition out of business.
FUN double bottom breakout watchDouble bottom with a fibonacci retracement target with a 60% upside.
Cedar Fair (FUN) Head & ShouldersH&S formation that began forming in 2013
- 1st major support at roughly $33
- with coronavirus getting everyone and their mom out of public places/travel, this decline may happen rather quickly relative to how long it took for the H&S to form
- i would definitely hedge this trade with an out of the money call option that are pretty cheap right now after the recent decline
$FUN Cedar Fair dismisses Six Flags Interests. Recent takeover target FUN has hit resistance but could present some nice opportunities on a break above $59.
Cedar Fair (FUN -2.8%) turned down a $4B cash-and-stock offer from Six Flags Entertainment (SIX +2.2%), sources tell Reuters.
The theme park operator is said to have considered the ~$70 deal price plus some cash as inadequate.
Six Flags is not expected to come in with a new offer.
Cedar Fair is back to $59.26, still above where FUN shares stood when the Six Flags story first broke.
Currently has a average analysts price target of $62 and a buy rating.
P/E ratio 19.42
Company profile
Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada's Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott's Berry Farm, and California's Great America. The company was founded on May 13, 1983 and is headquartered in Sandusky, OH.
Breaking out?$FUN broke out over the $56.5 resistance level and the 50-day EMA is approaching the 200-day EMA. I will be looking to open a position at that $56.5 level BUT I'd be careful about buying just yet because RSI is reading overbought and the MACD looks to be topping out. I think this will consolidate over the next week or two and if stock can hold around that $56.5 level, I'd be looking for this to fill the $9.5 channel up to $66. There is support at between $48-51 so set your stops accordingly.
Having FUN now!10 week moving average is crossing up over of the 40 week MA. The price is breaking out of its year long high... all signs lean towards moving higher!
I bought in at 50 for the .93/share dividend, but I'm really enjoying watching it take off on value.
FUN is fun 2FUN is a very promising stock to invest in short term, not only does it follow the Elliot Triangle Wave perfectly, but my previous targets have been spot on. I haven't changed the predictions since the A wave and the targets have worked perfectly with the outer triangle. This is a very basic prediction and it would be a shame to miss out on it.
Cedar Fair (FUN): Target ReachedThe previously mentioned target of 51.30 was reached on Friday as the stock had very nice upside closing at 51.73. Mission accomplished. On to the next trade idea.
