supports and resistsNYSE:TECK $teckb.to has found support for 3 weeks in a row now at around $34, and we got the rising bearish wedge breakdown.
The measured-move target is around $25.
TECK/N trade ideas
TECK is movingI like the wave count and Risk Reward. Completed 5 and an ABC completion.
Stop below the recent low and will trail accordingly as it moves.
TECK RESOURCES Stock Chart Fibonacci Analysis 060123Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 40/61.80%
descending wedge with declining volume Looks bullish, but traders are still going to need a push to get past that bearish gap and step in to go long.
TECKgetting slightly higher highs, and higher lows which tells me its on its way up, the DI+ has spiked up which tells me the ADX will soon follow, once ADX is above 25 its considered a strong trend. RSI has just moved above the 14 day average RSI line which is a positive for it to gain in price. i think its breaking out for next highs,the 2 very bullish candles tells me its on its way up for higher highs
squeezing$teck really squeezed here.
Ascending triangle is normally bullish. Price above MA10.
#copper
TECK commodity supercycle?TECK has bounced off its covid lows very well and is now hovering around resistance waiting to break upwards.
TECK , Long ( Re-entry attempt 1)So, the original Teck play , as posted, was stopped out. But Teck is working at a comeback today and is closed fairly strongly above the 10/21 EMA near the top of its daily price action . Volume looks pretty good too.
So back in I go ~
Stop vs 21 ema
with a 2R target to de-risk .
trend resistance rejection >.<TECK rejected off trend/strong resistance area, targeting 38.97-37.86-37.09
TECK , LONG TECK has been in a pretty strong daily uptrend since early 2020 and has shown considerable strength these past few months .
Decided to enter on the wedge pop here.
Also, looks like some decent volumes flowing in .
Institutions hold 68 % of float and transactions are positive .
Avg daily volume 5.32 M passes my 500K requirement with flying colors too .
I don't follow advice of analyst upgrades/recommendations but it also doesn't hurt to see two upgrades from
Jan 10th and Mar 9th too .
* Earnings is coming up soon on Apr-27th . I will drop the trade early if it stagnates ect ect and I can not de-risk it pre earnings . Probably still a healthy amount of time for TECK to do its thing imo . None the less have set an alert on calendar .
Entry - 40.44
Initial PT - 44.83
Stop - 38.28
3/6/22 TECKTeck resources Ltd ( NYSE:TECK )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 22.179B
Current Price: $41.49
Breakout price: $38.65 (hold above)
Buy Zone (Top/Bottom Range): $40.30-$37.10
Price Target: $30.80-$31.20 (Reached), $38.20-$38.90 (Reached), $46.00-$47.80 (3rd)
Estimated Duration to Target: 21-22d (3rd)
Contract of Interest: $TECK 4/14/22 43c
Trade price as of publish date: $2.18/contract
TECK - Teck ResourcesEARNINGS TOMORROW (2/24) - BMO
Stock is in a healthy bull after breaking out of a 3-month base. Coiling nicely, showing tremendous relative strength. Trying to catch a price expansion through key level.
Earnings are tremendous and accelerating in 6 consecutive quarters, on a YoY and QoQ basis.
2/9/22 TECKTeck Resources Ltd. ( NYSE:TECK )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 19.179B
Current Price: $35.95
Breakout price: $34.75 (hold above)
Buy Zone (Top/Bottom Range): $32.10-$29.85
Price Target: $38.20-$38.90 (2nd)
Estimated Duration to Target: 58-60d (2nd)
Contract of Interest: $TECK 5/20/22 40c
Trade price as of publish date: $1.88/contract
TECK gearing up for an explosive 2022TECK outpacing bearish market conditions as minerals are exploding in value over the last few months. Chart showing a strong double bottom set up on the weekly. Daily also showed a falling wedge onto that double bottom resistance area and has ran 10% from that bounce. Resistance off volume profile showing that 37 and 45 will be key areas to break. After that, 50s and 60s will come fast and are likely to be easier to break as not much volume by price stands there. Personally, this is my favorite set up and have been in leap calls since 31. I can see TECK touching ATH again very soon (soon = around 365 days from now). Also, I would not be discouraged if we drop 10 points after making a strong run (maybe resistance at 45 will be a bit strong), as pullbacks are healthy and as long as we hold 30 support more room to run higher will come. Saying that, remember this is not a weekly play, either hold common swings or leap contracts will benefit most from a potential massive run.
Side note: This is an opinion and should not be taken as correct or predictive of future price action. Manage risk at your own expense.
impulsive breakout just startingI bring this chart up all the time to show the potential for a very impulsive catch-up to the price of copper with this stock. Looks like a probable double. That's a spring-loaded, dividend-paying, 21-billion market cap (CAD)
$TECK 8 Months Base on Base$TECK 8 month base on base could work right out of the gate in 2022.
Wished volume pattern is a bit more convincing with stock sitting right below $29 supply line.
