Nomber Go Up. Dry January Epic FailDog Fish Head + Truly + happy midd/e/upper class of Americans = BOOM TIME $420 magic number
STZ
STZ showing strength, oversold w 200 Day support and CGC comingEoY 2018 plus Canopy investment caused a fall out of long term range. An improvement in CGC (currently oversold) means a likely return to that range, which means a possible run to $240 by EoY 2020. Even if it doesn't recapture the previous trading range, it is at the bottom of this one. Expect a near term jump especially with CGC earnings coming up.
Constellation Brands opportunityConstellation brands is a big US winery company. Elliott waves suggest ware going into C down. Very good technicals. Weekly rejected at trend line and 200SMA. Short on the break.
In the comments is a 1 hour charts with a inverse head and shoulders, looking to keep the long trade till MPO, where expect a reversal to short. This could be a lucrative trade.
Good Luck!
Bottom Fishing STZTradingView
Openposition at $163.67
Stop loss at $163
Take profit at $170
Why this play?
Thinking we may get a break out on cgc and this will follow.
plus rsi and triple bottom here.
STZ forms a bear pennant after a slew of bad news!Constellation Brands has enjoyed a massive run-up in the past 6 years and has come sharply off of its highs (around $230) in the past 5 months. STZ is a juggernaut in the alcohol industry and has deserved its high stock price given a very strong earnings growth trajectory. Lately, however, money has come out of the traditional vice stocks (alcohol and cigarettes) and poured into cannabis-related equities. STZ has noted that their growth is slowing (once in the more recent quarterly and again in a conference on February 20th). In an acknowledgement of slowing growth, STZ has taken a stake in pot stocks to diversify their business. While potentially a solid long term investment, STZ is currently showing a lot of vulnerability in the short term.
Technically, STZ was knocked down on those statements on February 20th and has since started to form a bearish pennant as seen in the charts above. I'd like to be a short seller of STZ on a breakdown from this pennant with an ultimate target of the $150 low that we saw on their last earnings report.
Short STZ on a trendline break
Target 1: 160
Target 2: 150
Stop: $172
STZ - LongI see a good opportunity to buy shares. At the beginning of this trading session, the position will be transferred to breakeven to protect itself from the next surprises from the market.
I expect from the market the next move:
If the price succeeds in breaking out of the resistance channel, we can count on a good profit.
P/E 27.04
Forward P/E 23.28
Good luck!
$stz ascending triangle higher time frame in defined uptrend and found support area after pullback-high probability
mid time frame showing formation of ascending triangle- an inverse head and shoulders showing symmetry
lower time frame in range bound consolidation- monitoring price action for break of first resistance area of 180.5x to target to 181.2x area
STZ "Will" Rebound, Right?I entered a 150/145 Put Credit Spread on STZ last week. Trade was sitting pretty as price shot up to 156. Then, of course, the biggest correction to STZ in 4 years.
I do like that the 200 ema and the 618 fib retracement held firmly. 9 days left to claw its way back.
STZ Day Trade (Brad Reed Jan8,2015)STZ expected to open at 107.50 for a Retest Gap. To learn to trade this strategy for free, go to www.RealLifeTrading.com
