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JP MORGAN: Expect bullish continuation $225.JP Morgan may be almost overbought on its 1M technical outlook (RSI = 69.738, MACD = 14.790, ADX = 37.379) but as you can see on this chart, this is when the stock tends to make a bullish extension instead of a correction. Especially since the 12 year pattern is a Channel Up and is currently on its fourth Bullish Wave of the structure. All prior bullish sequences have been over +124%, so we have a similar extension target (TP = 225.00) before any medium term correction takes place. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:JPMLong
by InvestingScope
Tesla's Alternate Scenario 📈🔍Regrettably, our Tesla trade within the 2-hour timeframe faced an unexpected stop-out. The anticipated completion of Wave 2 hasn't manifested, evident in the broader timeframe. Initially, we presumed it concluded at 50%, specifically at Wave C around $195. This presumption was invalidated post the recent earnings call, signaling a potential double correction. Consequently, we envisage establishing the bottom for Wave 2 within the range of 61.8% and 78.6%. Should this support falter, the price may decline, reaching at least $100. A breach below this level introduces an entirely different narrative for Tesla. It is crucial for the level to hold; otherwise, the bullish scenario could be flawed and invalidated. In the midst of selling pressure, opportunities often emerge, particularly during a Wave 2 correction. It is characteristic that circumstances may appear more challenging than when Tesla was valued at $100. Therefore, our expectation revolves around a reversal between $177 and $144, paving the way for a subsequent surge towards $500. 📈🔍
NASDAQ:TSLALong
by stromm
TESLA: Bottom is being priced. $470 end of year possible.Tesla is bearish on all long term timeframes 1D, 1W and 1M. The lowest RSI is on the 1W technical outlook (RSI = 37.118, MACD = -15.730, ADX = 32.394), which is the chart we focus today on. The stock has been inside a Channel Down since the July 2023 High, which was Lower High on the LH trendline that started on the ATH. We have spotted a striking resemblance of that pattern with 2014-2016. That pattern found support after the LH rejection on the 0.618 Fibonacci level and then rebounded aggressively to a new ATH on the 1.382 Fibonacci extension level from the pattern's Low. That rise was slightly greater than the last LH (+116.98% agains 91.32%). Tesla is on today's pattern very close to the 0.618 Fibonacci level, so we see it as a unique long term technical buy opportunity despite the recent negative fundamentals, which are being priced in since the start of the year. If you don't want to target as high as the 1.382 Fibonacci extension, take a more 'modest' approach and go for the analogous +195.79% rise, same as the last LH rally (TP = $470.00). Unique long term buy opportunity indeed to buy the industry leader. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:TSLALong
by InvestingScope
JNJ has bottomed and can rise by +50%Johnson & Johnson gives a very clear idea of its trend on the 1M timeframe. The price may be under the 1D MA50 but has reached the bottom of the multi year Channel Up that started at the bottom of the 2008-2009 crisis. Being neutral on the 1M technical outlook (RSI = 45.714, MACD = -1.180, ADX = 20.525) has historically been one of the best buy opportunities, in fact the stock has grown by at least +53.04% three time during that time span. We shouldn't also ignore the fact that the 1M MA100 is still holding and has been doing so since June 2012. We are aiming long term for at least +53.04% again (TP = 220.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:JNJLong
by InvestingScope
Varroc Engineering Ltd. is a manufacturerVarroc Engineering Ltd. is a manufacturer and supplier of automotive components. Their product portfolio includes polymer, electrical-electronics, metallic, and lighting systems. The company operates in the Automotive and Others segments. Riding the bullish wave with a stop loss at ₹505 and a straight target set at ₹620. 🎯🚀” Remember, investing in stocks involves risks, so always do thorough research and consider professional advice before making any trading decisions.
NSE:VARROCLong
by Shivam_Bhanot
WALMART: Correction to the 1D MA100. Strong buy after.Walmart is pulling back aggressively on what is a technical correction following deeply overbought RSI levels on the 1W timeframe. The 1D technical outlook has already turned bearish (RSI = 41.808, MACD = 0.470, ADX = 29.295) and is expected to extend towards at least the 1D MA100, as per all prior systemic pullbacks inside a logarithmic Channel Up pattern that started in November 2015. We estimate a low risk buy entry level at 57.00, with the ideal extension being on the 1W MA50. Our end of year target is a little under a +96.90% rise (TP = 73.00). The stock has completed this kind of rise on both prior Bullish Waves of the Channel Up before deep corrections near its bottom. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:WMT
by InvestingScope
🏢 Bullish Outlook on Carrier Global Corporation (CARR) 📈🔍 Analysis: Strategic Focus: Carrier Global Corporation (CARR) is concentrating on its core operations by divesting its Commercial Refrigeration and Fire & Security businesses after acquiring Viessmann. This move aims to expand its presence in food retail refrigeration. Asset Optimization: Carrier sold its Industrial Fire division to Sentinel Capital Partners for $1.43 billion, enabling it to focus on its core heating and cooling equipment businesses and strengthen its balance sheet capacity. Funding for Growth: Recent private offerings of USD and euro-denominated notes, totaling $3 billion and €2.35 billion respectively, provide funding for future growth initiatives, enhancing CARR's financial flexibility. 💼 Trade Plan: Entry: Consider entry above the $50.00-$51.00 range, signaling bullish sentiment and potential for growth driven by strategic optimization. Upside Target: Aim for profits in the range of $74.00-$76.00, reflecting confidence in Carrier's strategic moves and growth potential. Risk Management: Implement stop-loss measures to manage downside risk and protect profits in case of adverse market movements. 📊 Note: Stay updated on Carrier's divestiture and acquisition activities, as well as industry trends impacting its core operations, for informed trading decisions. #CARR #Bullish 📈🏢
NYSE:CARRLong
by Richtv_official