P2ST34 trade ideas
PSTG Consolidating Near All Time HighShowing great strength while the market is pulling back. It's not a widely talked about name like NASDAQ:NVDA or NASDAQ:AAPL , so it feels a little under the radar.
It's already trading in a decently tight range of about 5%, but I'd like to see it tighten a little more while the market continues to be weak. That would give me a great low risk pivot to get onboard with.
PSTG finding support on top of interests and Vol. Easy $4 gain Easy $4 gain over a weeks time. Should keep going. This indicator shows all the different timeframes and how they are connected to volume and price. Once it finds support on top they start to spread out and it becomes harder for it to slide through. Bouncing its way to profits.
by iCantw84it
11.29.24
Pure Storage Pulls BackPure Storage jumped to a new record high on strong earnings last month. Now, after a few weeks of consolidation, some traders may expect further upside.
The first pattern on today’s chart is the bullish gap on February 29. The data-storage company has remained completely above the gap, which may suggest there are few sellers.
Second, prices held the rising 21-day exponential moving average on March 19. They also formed a hammer candlestick. In addition, the bounce occurred near a 50 percent retracement of the most recent surge.
Finally, stochastics are turning higher.
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PSTG Pure Storage Options Ahead of EarningsAnalyzing the options chain and the chart patterns of PSTG Pure Storage prior to the earnings report this week,
I would consider purchasing the 36usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $2.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
PSTG: Bullish Pennant, Not confirmed (46.35%)Bullish pennant for PSTG on the Weekly chart.
Not confirmed.
Pros:
1- PPS above 50MA and 200MA
2- RS above 0 but barely
3- R/R ratio above 5
4- 250RSI above 50 and climbing
5- 50MA above 200MA
6- Both 50MA and 200MA ascending
7- Golden cross circled in Marth 2021
8- Post formed with volume
9- Descending volume during pennant forming
Cons:
1- Figure is not confirmed
2- No break out yet
3- ATR flat
If confirmed, target price is 53,52$
Again, stay humble, have fun, make money!
MAAX!
Not your blue chip tech company, that's the good thing!NYSE:PSTG in the data storage industry breaking out from a fisrt base after it bottom.
NASDAQ:SPSC in the computer software industry, specifically in supply chain solutions, breaking out from a fisrt base after the bottom.
Both are 1st in their IBD Industry Rank.
PSTG made a cup that could fuel a good move, and SPSC has its next resistance +25% away.
Which one do you like better?
Stock ideaPSTG reported solid figures yesterday and provided guidance above consensus expectations. The company has positive Free Cash Flow and attractive valuation. In our view, we may watch for an attractive entry around $28.0 (this level provides solid technical support) with lower risk. On good days on the stock market PSTG is definitely set to run to its price target of $32 (first resistance level) and to $37 mid-term.
Is $PSTG ready push higher on the right side of its base?Notes:
* Steady up trend on all time frames
* Great earnings track record
* Basing for the past ~8 months
* Pulled back to its 20 day line and is now moving higher with volume
Technicals:
Sector: Technology - Computer Hardware
Relative Strength vs. Sector: 3.54
Relative Strength vs. SP500: 6.42
U/D Ratio: 1.24
Base Depth: 64.4%
Distance from breakout buy point: -15.42%
Volume 41.61% above its 15 day avg.
Trade Idea:
* You can enter now as the price is recovering from its pull back on high volume
* If you're looking for a better entry you may be able to find one around the ~$30.7 area
* This stock usually has local tops when the price closes around 19.92% above its 50 EMA
* Consider selling into strength if the price closes 19.72% to 20.12% (or higher) above its 50 EMA
* The last closing price is 9.1% away from its 50 EMA