Rock looking bullishRock looking bullish - With Year on Year & QoQ increased Earnings with cup & handle pattern developing on charts - looking for a bullish trades
ROCK trade ideas
Symmetrical TrianglePossible stop under the apex of the triangle.
Triangles can break up or down. Price is squeezed in to the apex of the triangle and breaks up or down eventually.
It is not unusual for volume to taper off while price is in the triangle. You do want to see increased volume on the break.
No recommendation
Soon will be testing a breakout $ROCKWell behaving within the converging triangle. Soon it will be testing a break-out. Keep an eye on it! NASDAQ:ROCK
ROCK , Short This is a technical short only and is not based on fundamentals. I will plan on longing ROCK if the opportunity arises , nice margins and growth to consider for a future long but for now I will short it hopeful on a reversal .
Profit target at fib level 0.618 or 0.5 look good , I will personally go with 0.618 .
Good luck ~
ROCK: Ascending triangle, ConfirmedAscending triangle, Confirmed
Pros
Descending volume + increase on break out
PPS above 50MA and 200MA
200MA ascending
250RSI above 50
Cons
Descending ATR
PT = 78,24
ROCK - Long playEstimates for 2019 earnings rose 0.4% over the past two months, reflecting optimism.
This positive trend reinforces the expectation of near term performance.
Company Growth Strategies:
Operational excellence, product innovation, portfolio management and acquisitions which are major growth engines.
According to reports, the main part of those strategies are complete and the company has begun to benefit. In the future, it expects the initiative to improve its performance.
During the first half of 2019, earnings grew 4.1% year over year. In addition, revenue from innovative products (patented products) rose 9% in the second quarter of the prior year period.
These strategies, helped Gibraltar generate strong financial results, make more efficient use of capital, and generate higher shareholder returns. This may also be helpful for the coming quarters.
In the light of the above, Gibraltar expects third-quarter revenue in the $ 288-298 million range, suggesting growth from $ 280.1 million reported in the prior year period. By 2019, the company expects to generate more than $ 1 billion in revenue.
More points to consider:
o Increasing volume
o Indicators support this direction
o earnings report - on October 25
All of the above, of course, at your own discretion, your trading rules and your preferred trading strategies.
This is not a recommendation to buy / sell.
Good luck..
ROCK- Fallen angel formation Long from $33.13 to $37.23ROCK looks very good fallen angel formation from moneyflow standpoint. However we would like it to pullback for ideal entry.
It could continue much higher, as a bump & run formation.
* Trade Criteria *
Date First Found- June 8, 2017
Pattern/Why- Fallen angel pattern
Entry Target Criteria- Pull back to $33.13
Exit Target Criteria- $37.23
Stop Loss Criteria- $31.93
Please check back for Trade updates. (Note: Trade update is little delayed here.)
followup on rock/xI should have followed up on this pair trade but felt it might be too risky due to the election results.
Having been out of the trade since my last post, I decided to reenter on the 11th of nov. at the closed based on the break of the 1.75 level as seen on the renko chart. I shorted 100 shares of ROCK and purchased 167 shares of X. On the 6th of Dec. at the close, I covered the short on the 100 shares of ROCK for a $270 loss and sold the 167 shares of X for an 1865 gain. I took this action because the ratio was approaching the green trendline on the renko chart. Since that time the trade has become more profitable, but that's trading. I'm not an expert at this so I hope the renko gets published with this post.
