X trade ideas
Short term bullish XNice bounce from resistance today. I see riding to test resistance. If breakout past $24 roll to $28.
X Reaching Bottom of ChannelBasically X is in a bullish channel, confirmed by the retest on 6/15/17 as support. On 7/6/17 X closed below the channels midpoint, which should have warned investors of a possible lower day on 7/7/17, which did happen. The weekly MACD is still at the crossroads and bearish volume seems to be waning, with bearish volume the being the lowest since 12/26/17 (weekly).
May reach the top of the channel again around 7/21/17 with a $23.8x price target, which equals a 14% potential gain as of the time of this writing.
X tested necklineX has tested the neckline as I wrote last night. I'm in at 22.60. Using $22 as a stop loss. Looking to see if it rallies off today's lows.
X to test necklineX made a double bottom with a test of the neckline soon. Confluence of neckline and MA meeting could be a long setup. If neckline fails, a good short setup.
Lucy pulled football again.Don't give up Charlie Brown. 28 easy after 24 breaks. Whipsaw headfake on 50day MA crossing.
X- Big Huge Cup/Handle PatternOn weekly X stock, believe that big huge cup and handle pattern is about completed. Will be looking at buying shares and/or selling covered calls soon. PA is at a key reversal area or support on fib. retracment of .618 (holding for last 5 to 6 weeks). How to trade, on breakout of handle with bullish price reversal candlestick pattern (HARAMI, ENGULFING AND/OR PINBAR), support area of $20.00 (which is right now). Remember basic materials, will be stable at this time.
X: Bullish Shark at .618 and Weekly KumoSome positive divergence here on the weekly RSI as well...it has been quite bearish but I believe this might good buy for a bounce at least.
If the trade starts off well and I am up I will likely move to breakeven, especially if the candles are weak.
$18.27 also a spot I will watch
