TECK potential short Breakout after Double TopOur B.I.T.S (Breakout Intelligent Breakout Signals) Indicator for TradingView has a signal short on $TECK. We have completed a double top on the Daily timeframe and our automated short signal is below the recent low pivot. So we are combining a traditional duoble top short setup with our strong automated breakout signal from our indicator suite to go short TECK.
Short Entry at $15.56 with Stop loss at 16.47, with the 4 target zones printed on the chart by our B.I.T.S indicator.
Look to Swing this short trade over into next week, depending on momentum.
TECK trade ideas
TECK - Accumulation Zone (no TA pattern, but strong potential)Charts very obvious technical patterns over time, mostly double tops, with a few (I)H&S patterns. Price action is currently in a strong accumulation zone, and is prime for a decent bag to hold for take profits at 10%, then again around 16%. I don’t play with triple top resistances, but with some decent buy volume it could be a nice breakout - TECK is no stranger to a +20% run.
TECK.B Upswing TradeStrong uptrend, with price recently pulling back. Recent consolidation breakout to upside signaling the next up move could be underway. Decent reward:risk, even using the lower of the two targets. The higher target, or a trailing stop loss, will be used if the price rallies aggressively in the next several sessions. If it is meandering or slow, will get out at the lower target.
Disclosure: long
TECK: BullishLarge 4-Year Inverse Head & Shoulders
Smaller 1-Year Inverse Head & Shoulders continuation pattern
Currently consolidating, current pullback is fairly light volume.
I bought a small position with a stop around the 50 ma. I will add more on a bullish pullback or if it breaks out higher, for a long term hold.
A trip to prior highs puts this between $55 and $62. I believe the coming inflation will be much worse.
TECK: looks good to me.Could use close< current uptrend line as stop. Process your way.
Analysts: Strong buy 10, Moderate buy 1, Hold 3, Strong sell 1.
"Teck Resources Ltd. is a diversified resource company, which is engaged in mining and mineral development with business units focused on copper, steelmaking coal, zinc and energy. The company produces specialty metals, which includes germanium and indium. Its activities related to mining and minerals processing including exploration, development, smelting, refining, safety, environmental protection, product stewardship, recycling and research. Teck Resources was founded on September 24, 1951 and is headquartered in Vancouver, Canada."
Bullish Gold Futures = Mining Companies (#8 TECK)Resuming a trend and breaking a resistance line. But always wait for the pullback after the breakout when the red candles appear around 25.00 and 27.00 level
Here again, similar patterns in different mining companies in the basic materials Industry. The same argument again based in price action and the breakout of resistance lines
My intention is to share several names who are showing a price strength because my job is to put names in the desk of the Managers and Traders and at the end they choose which one they need for your different purposes.
We never know which one will give the best yield. That's why it diversifies
Watching for Break Higher in TECK.B.TOBuying near support of this small triangle after a very strong rally in July and August. Provides a decent reward:risk with a target just below the late-2016 and early 2017 highs.
This has the potential to be a high momentum stock. Price target is a fine option, but if the price is running may want to consider using the ATR Stops as a trailing stop loss instead: when the price drops below the line, place a stop loss several cents below the low of that day.
As an added benefit, the company is strong earnings right now making for an attractive P/E.