SIG trade ideas
$SIG Signet Breakout Targets
Beautiful move from SIG in the last few days and having broken through $20.00 we see
much more upside as long as the market remains strong.
26% short interest can also add fuel to the rally.
targets as per chart and support as per the parabola curve.
Are jewellery retailers in focus for the next decade? SIG is the leading retailer of diamonds worldwide and especially in the US. Since 2018 the company is not profitable.
Surpassingly, in q1 2020 it showed promising results with earnings equal to 76.2m USD and profit margin at 1.2%. Such a move was fuelled by online sales improvement and inflation fears across world.
However, in q3 2020 the enterprise has dropped 1B USD in revenue (6.14 vs 5.08) and earnings decreased by about 230m USD (72.6 vs -160.2). Moreover, today SIG has the highest Debt/Equity Ratio equal to 86.9% (the second worst number in the company's history 60.2%).
So let's start by considering these facts. While SIG is planning to become profitable in 3 years, its' financial results are not showing the same.
On the other hand, technical analysis shows that it has many reasons to grow:
1.The price started the rally at the end of March and still holding rising channel.
2.The price broke medium-term falling channel yesterday.
3. The price has consolidated at support level of long-term decreasing channel.
4.RSI indicate further uptrend and set at support level of the triangle.
5. EMA 21 is at support level of long-term decreasing channel and EMA 50 is below rising channel.
On the other hand:
1. The last candle looks like Evening Doji star
2.RSI looks so strong for this stock. If such a trend is supported by fundamental I am ok with it. However, I can find non.
Hence, stay focus. I would recommend:
-Short from 20-20.3 if you are aggressive
-Short tomorrow if the price fall (waiting conformation)
-Long if price goes upper 20 and would hold at list 1-2days from this moment
$SIG Signet Jewelers Ltd 17% potential upside
Potential long above $20.50
Upside target $24.00
Very bullish move and indicators
BUY to SIGNET JEWELLERSHey my friends, SIGNET JEWELLERS is in a fake bearish continuation with low sell volume, it is looking to turn around. See the TIMEFRAME 1 Min where the reversal takes place, it is at the beginning of the bullish gap. Great likelihood of returning to the consolidation zone to get to the top of it. And the breakout to go in the direction of the last highest which is valid for the first drop.
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$SIG Signet Breakout Potential
Signet managed to rally last week despite the market meltdown and post earnings selloff.
Guidance was encouraging and earnings well above estimates.
Could be a great hold in the longer term is we get a sustained market rotation.
Targets as per Gap fill and Fibonacci levels.
$SIG Signet Jewelers Ltd Trade setupPotential gap fill today in signet
Entry above $18.00
Targets gap fill open and close
$SIG Signet Jewelers Ltd 20% potential upside
Potential entry level $16.00
Upside target $19.50
Indicators bullish
Price has broken above 200ma
$SIG Signet Jewelers Targets
Alert set for break above $15.50 & Fibonacci resistance.
Potential targets to horizontal resistance $17.66
Fibonacci Golden pocket $18.50
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$SIG 37% short Interest In Signet Jewelers
Very high short interest remains in the stock and may soon begin to cover those positions
Stock is approaching POC at $17 which should act as resistance
The major downtrend from 2014 is at approx $20.00, if by some chance it reaches and breaks through, a major rally will be on the cards
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$SIG Signet Jewelers $16 target
Huge move yesterday for SIG after breaking out of channel
Earnings are approaching but despite yesterdays move the stock is 90% of its highs
If the stock can move above $16 it could run much much higher
SIG - 5/22/2020SIG - Ichimoku chart (45 minutes and 1 hour time frames) shows it's going higher. Unusual option activities indicates a huge call buying on 6/19 $12 for $.075 to $1 per contract.
$SIG Signet Jewellers Trade setup
Beaten down retailers beginning to get some interest in the past few days
Very high 32% short interest
Company profile
Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segment: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H. Samuel and Ernest Jones banners. The Other segment consists of activities related to purchasing and conversion of rough diamonds to polished stones and unallocated corporate administrative functions. The company was founded in 1949 and is headquartered in Hamilton, Bermuda.
$SIG Short Squeeze potential in Signet Jewelers
The stock carries a huge 32 % short interest which may be starting to fell the urge to cover.
The market rallied big today but SIG did not mange to break resistance,
tomorrow is another day so lets see if KSS WMT and HD can get a retail rally going pre market.
Possible upside targets $11- $12
$SIG Signet Short Squeeze Potential Huge Short interest in the stock which could do some covering today
Signet Jewelers Limited (SIG)Really interesting the technical situation of Signet Jewelers,
WHAT DO YOU THINK ABOUT IT?
SIGNET JEWELERS insider Buys $sig
MAy put s bottom in for the stock and place some confidence among investors
Stock popped on good earnings before further capitulation
$SIG Trading At Trendline Support$SIG looks to be a smart long-term play. We believe the stock is way oversold. $SIG trades at just 0.07x sales, 0.28x book, 1.12x cash, and 1.22x FCF. There's also a large short position with 23% of the float short. We believe there's more upside than downside at current levels.
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website. This segment operated 2,729 locations in the United States and 128 locations in Canada. The International segment operates stores in shopping malls and off-mall locations, principally under the H.Samuel and Ernest Jones brands. This segment operated 477 stores in the United Kingdom, the Republic of Ireland, and the Channel Islands. The Other segment is involved in the purchase and conversion of rough diamonds to polished stones, as well as provision of diamond polishing services. Signet Jewelers Limited was founded in 1950 and is based in Hamilton, Bermuda.
As always, trade with caution and good luck to all!
$SIG Signet Jewelers reversing post earnings SIgnet looks set to rally as online sales save the day
Signet (NYSE:SIG) reports comparable sales rose 2.3% in Q4 to top the consensus mark of +1.1%. Zales was a top-performing chain with a 5.9% comp the quarter, while Piercing Pagoda delivered a 7.7% comp.
North America comparables sales were up 2.9%, offset in part by a 3.1% drop for the international business. E-commerce sales increased 15.1% during the quarter.
Gross margin came in at 41.9% of sales vs. 40.7% consensus and 40.7% a year ago.
COVID-19 response: The company says it's aggressively reducing overall capital expenditures, prioritizing digital investments to enhance its e-commerce platform and provide a frictionless shopping experience for customers. After taking a drawdown, Signet has more than $1.2B in cash and an additional $292B available on an asset-based revolving credit facility. Source Seeking alpha
$SIG Signet continues bullish reversal into earnings Thursday High risk - High reward trade into earnings
Signet Jewelers High Risk Into earnings $SIG
Small trade into earnings given the possible upside % return for very small $$$ value.
100% before noteable resistance hit @ $12.20
Much will depend on the commenatry regarding projections and supply chain.
High short interest of 22% must be thinking that time to cover is approaching, shorts will not want to get trapped in a worse case scenario for the stock.
