C1BS34 trade ideas
VIAC inverse H&S patternViacom CBS has been trading at an extremely attractive P/E ratio for a while now and it appears to be poised for a breakout. The deep-red line is the line in the sand. I see an inverse head-and-shoulder pattern indicating a bullish breakout could be in the works. Great long-term hold and has a surprisingly impressive streaming business. I don't expect a huge spike in one day, but I expect it to be a slow and steady upward trend as the rotation from growth and richly-valued stocks continue into the stocks that have still not had their day in the sun. The current P/E ratio is about 8x; on average 17x is considered normal. That's an easy double overtime in my opinion.
VIACOM IDEAViacom has been in an uptrend since March, and I think this week will test this uptrend. The trendline has grinded the 50 EMA over the previous two trading days, but did finish the week on a strong note.
I will be looking for the trendline to break ~28.57 as resistance, and looking for an entry point at ~29.10, with stop loss at 25.03.
If successful, I can see VIAC running up to 31.49 especially given earnings season. ViacomCBS has been one of the main broadcasters of NFL, and the public has been more intrigued than ever this season given the pandemic.
Saham Syarikat VIACVIAC
ViacomCBS Inc.
Communication Services | Entertainment | USA
VIAC adalah kod bagi syarikat ViacomCBS Inc yang diperbuat dari segi sektor perkhidmatan.
Mengikut pemerhatian gelombang sahlun tentang saham ini adalah uptrend dalam tempoh 3 bulan lepas.
Dari segi kriteria syariah setakat hari ini, saham ini adalah TIDAK Patuh Syariah.
PENAFIAN: Maklumat dan penerangan sebarang senarai saham, derivatif, komoditi, matawang kripto, bon , sukuk atau sebagainya yang dinyatakan adalah sebagai tujuan pendidikan semata-mata dan bukanlah saranan pembelian mahupun penjualan. Segala liabiliti risiko dagangan adalah diatas tanggungan sendiri. Anda hendaklah mendapatkan rujukan dan nasihat dari pakar dan konsultan bertauliah.
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VIAC Long, Daily EMA144 as supportCondition:
#1 Daily EMA144 is support
#2 Swing(A) crossed SMA50 and EMA144 (Normally, this is a pattern of beginning in uptrend)
#3 Swing(C) Began from SMA50
#4 No price change on 8/6/2020 Earning
Estimate: Range of Swing(C) = Swing(A) (ABC pattern, even if it is a consolidation only)
Entry below 26.5
Stop 24; when Trendline break
Target1: 35; risk/reward=1:3
Target2: 40; risk/reward=1:6
I am not a Pro trader. I need few months to work on rule based trading strategies.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate consistently.
VIAC - Cup & Handle? (of sorts)VIAC hit a high of 28.50 on 8th June before languishing in a severe and protracted pullback.
On 30 July it finally rose above 25.60 after forming what resembled a mini cup & handle ("resembled" as it did not fit all the criteria for a C&H, namely, a prior uptrend). However, it now appears to be forming the "real" C&H (at least the cup, we do not know yet if a handle will form) with the rim top @ 28.50.
Eventually should it rise above 28.50 (with or without a "handle" formation), then I am expecting it to hit a target of at least 35 (C&H target).
Let's see if it plays out!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
$VIAC ViacomCBS Inc Long Into Earnings
VIAC has staged a nice reversal from the March lows and in recent days has
built quite a bullish setup as earnings approach.
Uptrend remains strong and is a perfect buy zone on multiple occasions, which
is also tracked by the 20 & 50MA's
MACD & Histogram have reversed from the most recent decline.
Local Fibonacci (white) and Major (blue) will act as resistance | targets.
Crossing the Major pivot point at $28.58 would open up the chart to a major rally.