KAR trade ideas
KAR Q1 earnings beatKar Auction Services (KAR) reported Q1 March 2021 earnings of $0.45 per share on revenue of $581.6 million. The consensus earnings estimate was $0.12 per share on revenue of $561.8 million. Revenue fell 9.9% compared to the same quarter a year ago. The company said it continues to expect 2021 earnings of approximately $0.87 per share. The current consensus earnings estimate is $0.87 per share for the year ending December 31, 2021. My logic, there is no chip shortage in used cars. lol.
R3 = $18.46
R2 = $17.42
R1 = $16.32
pivot = $15.28
S1 = $14.18
S2 = $13.09
S3 = $12.04
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
2HR Confirmation On Weekly Demandno confirmation = no trade
no profit margin = no trade
must get a confirmation on LTF
Either 15M Timeframe or 10M or 5M
we must get a change of trend on those timeframes like price coming into the zone with LL/LH and we need HH/HL To come in!
that's how i enter 99% of my trades
Kar's next ride I think we have a shot for 20-22 on the stock. It created a double bottom and broke minor resistance. 18.54 is the next hurdle and 20s are a layup. Buckle up!
Deep Bearish CrabHere is a nice deep bearish crab on KAR. Measured with 1.618 AB=CD, 1.618 XA, 2.618 BC retracement.
KAR- Flag formation, Channel breakout long from $44.43 to $47.93KAR seems breaking out of a downward channel in short term & also looks like a nice flag formation. Moneyflow is heading strong to the upside. We think it has good upside potential
* Trade Criteria *
Date First Found- August 15, 2017
Pattern/Why- Flag formation
Entry Target Criteria- Break of $44.43
Exit Target Criteria- $47.93
Stop Loss Criteria-N/A
Please check back for Trade updates. (Note: Trade update is little delayed here.)
KAR Auction Services Inc. could correct to USD 33.50After a rally in November a correction in KAR Auction Services Inc. shares has set in. RSI is showing bearish divergence, giving us reason to expect a much deeper correction in the stock down to USD 33.50.
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