Rail/Transportation Stocks: Macro Fib SchematicsThe biggest rail companies in the world. union Pacific, Berkshire Hathaway, CSX Corp, Northfolk Southern, Canadian Railway Co... GATX is a logistical distributor of railcars, trucks, ect...
FedEx and UPS are postal companies which transport many things.
These Schematics are an eye full but with a careful eye, it is easy to see the patterns of support and resistance. This is a 2 Month chart but they still work with the schematics because all timeframes work in tandem.
Some examples of stock movement include Berkshire Hathaway blasting off from an important Fibonacci Level (RED). Also, there are rejections on GATX and supports on UPS. Canadian Railway is heading into resistance. ECT ECT ECT...
Unionpacific
Union Pacific dips continue to attract buyers.Union Pacific Corporation - 30d expiry - We look to Buy at 204.44 (stop at 194.90)
Prices have reacted from 183.70.
Levels below 205 continue to attract buyers.
This stock has seen good sales growth.
The primary trend remains bullish.
A break of 221.71 is needed to confirm follow through bullish momentum.
Our profit targets will be 227.88 and 232.88
Resistance: 216 / 222 / 230
Support: 210 / 205 / 203
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UNP longEntry price: 196,5-198$
Target 1: 212-215$
Target 2: 228-230$
RSI: approaches 20 level, the asset is oversold
Keltner channel: the price is beyond the lower band
Conclusions: RSI and Keltner Channel suggest that the trend reversal might occur. Moreover, the price approaches the strong resistance level, thus the long position is recommended in that zone.
No financial advice
Union Pacific Signaling Buy Train AheadBased on historical movement, the trough could occur anywhere in the larger red box. The final targets are in the green boxes. The pending top should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated BUY on September 17, 2021 with a closing price of 201.93.
If this instance is successful, that means the stock should rise to at least 203.49 which is the bottom of the larger green box. Three-quarters of all successful signals have the stock rise 2.45% from the signal closing price. This percentage is the bottom of the smaller green box. Half of all successful signals have the stock rise 5.132% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock rise 9.312% from the signal closing price which is the top of the smaller green box. The maximum rise on record would see a move to the top of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The peak of the rise can occur as soon as the next trading bar after signal close, while the max rise occurs within the limit of study at 40 trading bars after the signal. A 0.75% rise must occur over the next 40 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 22 trading bars; half occur within 32 trading bars, and one-quarter require at least 38 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).