Reynolds Consumer Products | REYN | Long at $27.00Reynolds Consumer Products NASDAQ:REYN is a "boring" company with excellent fundamentals. P/E of 15x, 3.35% dividend yield, low debt, and a 53M float. The Director just scooped up $196,000 in shares and earnings are expected to growth (while slowly) over the next few years. It recently tested the low of my historical simple move average (teal and white lines on the chart) and it looks primed for a move up to fill the price gaps. Thus, at $27.00, NASDAQ:REYN is in a personal buy zone.
Target #1 = $29.00
Target #2 = $31.00
Target #3 = $34.00
REYN trade ideas
$REYN 5 Month #Rectangle #ChartPatternNASDAQ:REYN is setting up an interesting long setup inside of its 5 month rectangle trading range.
A potential close above $32 will:
1) break a 2 month down-sloping trend line (dotted red line on the chart)
2) break 1 month rectangle upper boundary resistance (red line on the chart)
3) trigger a high probability long swing trade with a target back to the 5 month rectangle upper boundary
Considering the bullish nature of this market, I am more interested to playing this on the long side vs the short scenario.
It doesn't matter how well defined a #ChartPattern is..It could still fail to materialize. Everything is possible when trading, including patterns than never confirm (breakout or breakdown) and patterns that fail before they are completed. NASDAQ:REYN is a good example. This was one of my top watch list stock. i posted about the double pattern developing inside of each other few days back(chart below). Earnings came out today and had something else in mind. The stock could still drop into a trading range transforming current chart pattern into a rectangle chart pattern. But for now, current inverse head and shoulder and ascending triangle patterns are both broken.
$REYN forming 3 month inverse #HeadandShoulder #ChartPatternNASDAQ:REYN is forming a 3 months continuation inverse head and shoulder chart pattern inside of an ascending triangle chart pattern with $36 acting as a strong resistance level. The price will be breaking into ATHs upon chart pattern completion.
#KeepItSimple
$REYN Reynolds Consumer Products on verge of Breakout
Potential breakout with $34.50 & $36.00 as upside targets
Reynolds Consumer Products, Inc. manufactures and sells household products. It operates through the following segments: Presto Products, Reynolds Cooking & Baking, Hefty Waste & Storage and Hefty Tableware. The Reynolds Cooking & Baking segment produces branded and store brand foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, plastic wrap, baking cups, oven bags and slow cooker liners. The Hefty Waste & Storage segment produces both branded and store brand trash and food storage bags. Its products are sold under the Hefty Ultra Strong, Hefty Strong Trash Bags, Hefty Renew and Hefty Slider Bags brands. The Hefty Tableware segment sells both branded and store brand disposable and compostable plates, bowls, platters, cups and cutlery. The Presto Products segment sells store brand products in four main categories including food storage bags, trash bags, reusable storage containers and plastic wrap. The company was founded in 2010 and is headquartered in Lake Forest, IL.