Tech stock are green STXThe tech stocks do well. The Trade ist out of an retracement. Inital Stopp should be the old low. Target the old high.
STXH trade ideas
Seagate Technologies Breakout on Crypto NewsSeagate Technology plc (STX) provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. The company started an explosive move higher on a report that they were early investors in Ripple, the cryptocurrency attempting to revolutionize the way financial institutes move money. The stake would reportedly have been worth roughly $8 billion at the time of the news vs. a $12 billion market cap for Seagate. This all lead to a breakout to all time highs for the stock as seen in the chart.
Coiled at end of Triangle with Bullish Stochastic DivergenceThere is divergence playing out on the daily, there is new divergence on the hourly, it is coming out of a downward channel and is currently coiling in a triangle pattern that is looking bullish. Looking for a move to the 200ma.
Buy: 33.50 - 34.00
Stop: 32.30
Target: 38.37 - 43.18
Seagate (STX). UpTrend was broken. Wait end of consolidationGood to sell when the price would end the consolidation (yellow ellipse) and drop below the previous low (41.20).
Move stop then lower above the top of projected consolidation.
Target is above the previous low (18.75).
STX - Swing long at $41-42 Level- STX has pulled back after a breakout earnings report and completion of Measured Move target at $49.70. The Measured Move completion corresponded to the test and failure of the weekly 200sma.
- During the upward move, prices trended strongly and respected the 34EMA Wave during pullbacks/consolidation.
- I am waiting for prices to fill the earnings gap and complete the 2 leg down pattern after the measured move. A fill in the $41 - $42 area would be great.
- Negatives for this trades include the sub-200sma price action and possible unknown retracement level after the Measured Move completion.
STX longmay consider STX as a pullback buy at the .61 retracement around 41 which is also the recent breakout level and about 10% above closing before earnings release. stops at pivot level would be too far off though at least the +6% level should hold. stops then little below that level around 39 which is also the uptrending 50dma
a gap down to that 41 level and seeing buyers jumping in would make me go with them. short interest of about 12% may help limit the down side also as bears may want to cut losses
STX: A beautiful breakout to be boughtSHORT TERM POSITIVE
STX broke out in July 2016 and again yesterday on the back of stronger than expected earnings. The volume on breakout day (7.8x average daily volume) makes it a very significant move - One of the main invitations to buy the shares even after they have propelled upwards. Yesterday's shooting star could be construed as a bearish reversal, but it is no real concern as this formation is not statistically a very reliable indicator. However, it could spell that some consolidation could be expected in the short term, and after yesterday's big move.
MEDIUM AND LONG TERM COMPELLING AS WELL
On the long term-chart below, please note that yesterday's close also marks the completion of a very visible reverse head and shoulders. This could be an additional positive indicator.
LEVELS AND RISK REWARD?
We would like to buy the shares today after the breakout IN HALF POSITION. This will give us the fire power to double down on an eventual consolidation. We would be happy to keep owning the shares, as long as the breakout is valid, above 38 (most recent breakout level). Our target price is derived from both the H&S pattern and the main channel from which the stock broke out in July - Both incidentally lead us to the same target at $54.30/Share, making this number both compelling and credible. This is equivalent to a positive R/R of 2.5x.
Long at 42.67
Target 54.30
Stop 38.00
Seagate - the story goes onStill like the stock.
Trend is underpinned by strong figures.
Hard disks remain the cheapest way to store data, and data is growing
Happy trading.
Reiterating the Buy on SeagateStock is holding up well above the 200 d mvg avg.
Especially in August and early November, Shares were strong.
Buy or hold on to existing positions.
Happy trading
STX- Strath took $32 January Puts STX seems breaking down sharply in the context of global economical slowdown & related industry weakness & sells contraction.
In the technical side STX breaking down from a rising wedge formation, and rising wedge target will be around 30
For trade Strath took $32 January puts, traded for $1.85
You can check our detailed analysis on STX in the trading room/ Executive summary link here-
www.screencast.com
Time Span: 14:50"
Trade Status: Pending
SeagateStock has broken its downtrend.
Above 200d moving average.
What I like: Stock has stabilised above the moving average for almost one month and is now ready for the next step.
Fundamentally: Harddisk remains the number one source for saving data - because it is the cheapest...and data volumes continue to grow, as well as the need for backups, etc.
Happy Trading
