Weekend DD for Monday. Bullish swing setups.
NUAN - | Imgur link This guy recently bounce off SMA200 as support, check out that purple support line at 17.00. Not only that, but the past two days have seen very high volume, combined with the actual price reversal is a strong reversal indicator. Looks like it might either consolidate around 17 (-1.13%) or head higher to the SMA20 (+2.65%) or SMA50 (+6.24%). RSI 42. Buy.
CFG - | Imgur link Pretty much the same thing as NUAN, we bounced off SMA200 as support and currently still above 34 purple support line. All year we've been trading between 33-34 as support and 37+ as resistance. It could be premature, but in a week I expect it to go back up to the 37 region. SMA20 (+4%) and 50 (+3.28%) are close to 36. RSI 36 as well. Buy.
HBAN - | Imgur link We just had earnings reported this morning, 0.26 EPS vs 0.23 EPS expected. We dropped 4% today, but we're basically right on the blue support line. Sure, we could go lower to continue the down channel toward that other blue line, but that would require going below the SMA200, which hasn't happened since at least 2016. There is strong support also at 12.50. I give this one a 40% chance to go to 12.50 before ranging between 12.50 and 13, and a 60% shot to go back to 13.50. I expect it to go to the SMA50 (+1.22%) in the next few days, and maybe test the SMA20 (+3.88%) after. RSI 36.5, buy or don't.
KEY - | Imgur link I really like this one. Earnings was 7/20, 0.34 vs 0.34 expected. This is a TA trader's dream. Even though RSI is a bit high to be perfect, at 37, look at all of the converging possible support lines on the chart. We are at a purple horizontal bottom at 18.00, which succeeded as support at the end of June. Just below that around 17.80 (-1.22%) is the bottom of the upward wedge we've been in since mid-March. This bottom was tested successfully in April and June. Below that at about 17.50 (-2.86%) is the SMA200, which we haven't gone below since at least 2016. I wouldn't be concerned about the double top, because we've been trading in the 17-19 range for a while now. This stock also tends to reverse quickly off of support, so it should be a fairly easy win if the reaction is positive on Monday. Targets SMA50 (+2.11%), SMA20 (+4.28%), 19 (+5.55%). I'm considering buying calls.
HCP - | Imgur link Not interesting yet, but maybe in the next few days. RSI is 46 so the stock could head lower. Look at the pattern, though. We have strong confirmations of the upward channel formed by the blue support and pink resistance lines. The price reacted there several times. Also note in between the two near the exact middle of the channel we have some resistance, in mid Feb, mid May, and the most recent swing high. The top of the lower-half of the channel should be around 32.50 by the time we reach it next, which also happens to be the purple resistance line. We still have some distance to fall yet, but there is strong horizontal support at 31.00, as can be seen at the end of March / beginning of April, middle of May, Beginning of June, and beginning of July. We see a range between 31-32 inside a larger range between 30 and 33. Consider the blue support line and the SMA200. They are almost exactly on top of each other. Consider buying near 31 or 31.10. Right now you could probably short some shares expecting to reach that area. After that, expect a move back to the 32-32.50 region. The SMA20 (+1.41%, will increase as we get closer to 31) might be an interesting resistance region. Don't buy yet, but watch for a few days.
MXIM - | Imgur link Interesting action today. Just reported earnings. They beat EPS but had lower revenues than expected. Huge volume, price traded between the psychological support level at 44 (purple line) and almost touched the blue line of the downward channel The highest price of the day was very near the SMA50, and closed red just above a group of candles at end of Jun/ early July which had tops with a price really close to the current price. Could fight and test 44 again. One to watch for volume reasons, consider buying near 44.
NLY - | Imgur link Good reversal indications. We had a great +1% day, and volume has been super high all week. The gap down on 7/18 was because the company offered more shares, 60 million shares for $710m, about 11.83 per share. We're below the SMA50 (+1.12%) and SMA20 (+2.66%) for the first time since the beginning of the year, and if not for the new offering of shares causing the gap down, we'd still be trading inside the upward channel which is currently between 12.25 and 13.00, the blue and pink lines. My guess is we go up to the SMA50 and SMA20, and maybe even test the 12.25 (+3.20%) level again soon.
DRE - | Imgur link Did you forget about DRE? 😏 Try this one yourself. It's not the best or most perfect setup, but try to come up with some reasons why it could be a buy setup.
Let me know if you think I'm a shitter or if you like these, then post memes.
Posted Jul 21, 2017, 10:25 PM UTC