$MANU STOCK ON SAME DECLINE AS THE MANCHESTER UTD TEAM. BEARISHARGUABLY THE BIGGEST CLUB IN THE WORLD IS HEMORRHAGING VALUE FOR INVESTORS. THE TEAM HAS BEEN IN THE DECLINE FOR 6 YEARS AND NOW THE STOCK IS FOLLOWING. FAILURE TO QUALIFY FOR THE CHAMPIONS LEAGUE WILL MEAN A LOSS OF UP TO $40 MILLION ALONE. THIS SEASON ANOTHER MANGER HAS BEEN SACKED WHICH MEANS THE NEW MANAGER WILL BE GIVEN LARGE SUMS OF MONEY TO TRY AND BUILT A TEAM. THIS WILL TAKE TIME, AND SPONSORSHIP DEALS ETC MAY BECOME LESS APPEALING TO ADVERTISERS. EARNINGS MAY BE GOOD BUT ITS JUST SHORT TERM,.
0Z1Q trade ideas
Bullish on ManU going into 2017-18 BPL SeasonRed Devils fans' hope should be up! I am applying Elliott Waves to MANU (Manchester United Football Club) stock price. Fundamentally, things are looking good with new manager José Mourinho and new player signings. It will be interesting to watch if the chart correlates with the clubs performance this season.
Technically speaking, after a series of corrective waves forming the large sideways movement over the last three years, the last couple waves have been clear five wave patterns. The former wave C of (C) five-wave decline fits to complete the larger zigzag correction at two degrees. The latter five wave impulse, suggestive of the new direction of the larger trend, is likely completing its fourth wave, wave ((4)), setting up for a new high.
The leading alternate count is very bullish, suggesting a larger 5 wave impulse will unfold and the current decline is the wave 2 corrective wave. The second alternate implies a larger correction is unfolding and that this is another zigzag within it. However, the next direction would still be up. I am interested in buying at 15.50 and 15.00.
MANU Bullish Cypher completed. Do we continue bullish?On MANU we had a completion of the cypher pattern and the stock moved upward and has hit the first target level.
We want to see an open above the blue trend line shown below to confirm an actual continuation, or a breakout above the line.
Since then, we have had multiple doji's that have caught my eye. If one doji shows indecision, multiple doji's show further indecision.
We've had an open higher above the last Doji already and we are sat right on the trigger line, If we open higher in the next trading session and above the T line, this should be a good probability move of going to the upside and presents itself as a good buying opportunity. If we don't open higher than the previous session, then this trade isn't as appealing.
Another way of going about this is to wait for a break above the only challenge this trade has, which is the 50 and 200 EMA.
In this sort of trade you can use very tight stop losses, and I would at absolutely maximum have my stops at 16.16. Any lower shows sellers are still in control.
Good luck traders