BHC/N trade ideas
BHC close to buy zoneAs showed in the chart $BHC comes from a long bullish flag. Price is reaching the buy zone where the major bullish trendline goes through. It's not yet a buy but we are approching such zone. Strategy: watch and wait.
BHC swingExtremely tight, and quiet range. In the mid point of a broadening pattern, looking for a move to upper end around 25 as a primary target. Bollinger bands on 30 min practically touching. Need some volume to get started
$BHC almost a buy: under the radarI am waiting for an entry long in $BHC but positive signs are already there especially RSI is giving an insight, MA 200 is almost close and it might be probable a new test. Monthly RSI is down and on a weekly basis price is approcing the pullback of the third bullish wave.
For the time being, given the positive earnings release a bullish trend continuation is highly probable but I would not exclude somewhat time to complete the flag in order to reach the main trendline in red. If it is not like that a bullish signal will be given ....only.... when the price breaks the upper edge of the flag.
For aggressive traders an entry long might be done even today with really tight SL.
BHC Elliott Wave Analysis: Larger Correction Taking Place?Hello Traders,
In this Elliott Wave Analysis, we will have a look at the Bausch Health stock.
BHC ended the cycle from 03/01/18 (14.45) low at the peak of 06/13/18 (27.77) in black wave ((1)). Below from there the stock is currently correcting the cycle from 03/01/18 low in 3-7 or 11 swings in black wave ((2)) before more upside can be seen.
Near-term BHC ended the cycle from 06/13/18 peak at the low of 06/25/18 (22.39) in blue wave (W). The internals of blue wave (W) unfolded has Elliott Wave Zigzag structure which ended red wave A at 06/19/18 low (22.96), red wave B pullback at 06/21/18 peak (25) and red wave C of blue wave (W) at 06/25/18 (22.40). Up from there, it ended blue wave (X) pullback at 07/13/18 peak (24.45). Below from that peak, it ended the cycle from 07/13/18 at 08/01/18 low (21.46) in red wave W. The internals of that move unfolded has a Elliott Wave double correction where it ended black wave ((w)) at 07/16/18 low (22.49) and black wave ((x)) pullback at 07/18/18 peak (23.55).
Below from there, it ended black wave ((y)) of red wave W at 08/01/18 low (21.46). Up from there, it is in the process of correcting the cycle from 07/13/18 peak in 3-7 or 11 swings in red wave X before the next extension lower can be seen. As long as the pivot at 24.45 peak in our distribution system stays intact, we expect it to extend lower. We don’t like buying it.
BHC Bausch Health: possible opportunity in the next daysAlthough earnings are releasing next week, the today's session for $BHC will be critical: a trend inversion might be possible on a daily basis, yesterday price formed a dragon fly bullish as the arrow shows.
This must be confirmed with a black (green) candle today in order to develop minimum of swing, otherwise there will be no signs for an inversion in the short term.
Ground seems to be ready even because RSI (oscillator) is near the range of 30-40 which means that it is charged enough to support a bullish trend.
Conclusions
For aggressive traders entry long might be done today with tight SL. Price actually flows over a solid support around 21.50 dollars.
For conservative traders: watch and wait at least today.
How I made 60% on, then VRX, counter-trading Bill AckmanWhat's going on guys, YoungShkreli in the building
As you'll see I've tagged Bitcoin in this because this is an educational post and not just about BHC (formerly VRX).
I didn't know anything about this company, I just saw an article one day by chance that said Bill Ackman, after suffering something like a 90% loss pulled out of VRX. They mentioned in that article that Bill doesn't quit until well after everyone else has.
Notice the implications of that statement: Bill is the last person to sell something because he believes in his trades until (literally) the very end. That's an unbelievable psychological statement about a market. It had gotten so bad, that even the biggest bull had died.
So, after reading the article, I looked at the chart, saw the ridiculous fall, looked at the book value and said, why not? I put Half of my account into the trade because I figured the technicals couldn't get any worse, the news couldn't get any worse, and the fundamentals weren't actually that tragic.
My entry was at $15.35 on March 8th, I remember because it was one day after my birthday. I pulled out at ~$26 only because I needed to pay bills and I figured I might as well pull it out of there because I made a lot of money and didn't know anything at all about the company.
I tie this to Bitcoin, because I want to tell you guys about ACTUAL bottoms in a bear market. They don't happen when you are watching 24/7. The only time you will catch a bottom is by not caring at all and just waiting and waiting and waiting. Bottoms happen when there is TRUE capitulation. If you don't know or remember, Richard Heart absolutely breaking down was another amazing psychological indication that the market may be close to bottoming.
Bottoms in bear markets happen after capitulation. Always. They don't necessarily recover in a v-shape, they can capitulate many times and form a smooth bottom like the one here in BHC or like in BTC in 2014/15 but that's when they happen. Don't chase. Let the money come to you - it will.
SUMMARY:
Bull markets are said to be the easiest markets to trade in because everyone makes money (until they don't) but bear markets don't have to be that complicated if you know what to look for... and what to listen for...
PS: I think Bill Ackman is completely incompetent at making money as a manager so that helped too. Brilliant guy, I can't emphasize that enough - he's way more intelligent and knowledgeable than I am - but his strategy is absolutely rubbish and he refuses to change. He completely ignores fundamentals AND technicals. He walks into businesses thinking he can single-handedly turn them around. Guess what buddy, if Elon Musk can't, you can't. End of rant.
($BHC )Bausch health (VRX) jammed triangle Simple update today for ex-Valeant (VRX) now Bausch Health. We have a a triangle with squeezed volatility. Positions can me taken once the edges will be broken. As for now we are really closed to the lower line at 22,26 dollars.
At the moment watch and wait would be the most logic solution. Aggresive traders can take long position with SL lower than 22, 26, but it might be somewhat risky (because secondary main trand is bearish). RSI is quite down but at the moment there are no divergences suggesting a trend inversion (bullish).
