Cleveland Cliffs is a mining company with a lot of exposure to China tariffs. The company's earnings took a huge hit this year due to the downturn in steel as a result of the trade war, and the price plummeted. The company should get a nice surge on any positive trade talk news. It briefly made a bullish trend line break Friday when the market thought a deal had...
Hopefully the title isn't a shock to you, given Brexit uncertainty for the past couple of year. Rising wedge is usually a bearish indicator but you might notice that higher volume days are accumulative - big boys taking bullish position? I'm staying away but have alerts set to look at possible shorts in the longer term.
Event driven volatility is nothing new in commodity trading. Position traders thrive off post-announcement drift action, and while Wall Street continues to supply them with their needed dose of earnings reports, we shouldn't neglect the weekly available economic indicators that grant us so many setups for great trades. United States crude oil inventories are...
Episode 6/11: US (SPX) Sectors Technical Analysis Series - 17th of July 2019 Brief Explanation of the chart : Wave Extension 1.618 target reached 64.34 (based on length of drop from 2009). Sin lines represent the stages of the cycle(it can't always overlap perfectly). Current bullish channel recovery since the drop that happened at the end of 2018 ...
AUY revised its productivity guidance upward today, but didn't get a price reaction because it was already at trendline resistance. A little bump in the price of gold could put it across the trendline tomorrow and signal a new uptrend. The metals sector as a whole has some bearish divergence and looks a little over bought, but AUY could now be poised to outperform.
Orion Engineered Carbons has generally positive analyst ratings and positive earnings growth. Recognia's Elliott Wave analysis puts OEC in a bullish Wave 3 move with a price target of 22.71. OEC missed earnings estimates last quarter and took a pretty big hit. But with the materials sector looking so hot right now, I suspect OEC will indeed break out above the...
Recognia is flashing am Elliott Wave 3 extension for Rio Tinto, with a price target of $73.86. I'm skeptical that we'll get that high, because it's outside the current trend channel, which I expect to break after RIO reports earnings on August 1. However, I do think it's likely that there's upside ahead as we approach the half-year earnings date. RIO has a low P/E...
This could setup to be a big 2x or 3x move coming. $NCS is a metal building company and owns lots of components and products used by other companies. They had a big merger and are re-branding to Cornerstone. This will be huge for the company, and with steel prices looking to rebound a reversal is setting up nicely. Also, weekly bullish divergence is occurring (see...
XLB (Materials ETF) has been consolidating for weeks and looks like it's getting ready to make a move higher. With Squeezes on both the Weekly and Daily Chart this looks like a 'set it and forget it' type trade: In a perfect world, I'll be looking for a pullback tomorrow where I can pick up the 58/57 Put Credit Spread: Put Credit Spread Sell 58 Jan Monthly...
A bullish signal on XLB (Etf Materials Select Sector) with the target in the area $63.50. Stop loss at $57.30.
Oh Novanta. So many possibilities for such a great company. Please forgive the maddening amount of clustered lines. The primary trend line is massive and seemingly unstoppable for a reason. Even though it's gone parabolic, its story is rock solid and almost sexy with everything they have a hand in. As a leader in medical and advanced, industrial markets, Novanta...
Vale is currently benefiting from the rise in iron and copper ore over the last several months. The stock broke out back on 12/20 and ripped higher for weeks until the recent market volatility caught hold of it. However, even as the market as tanked Vale has held up relatively well, ~4.6% vs. ~8.8% drop for the S&P500. Look for the stock to shoot higher is the...
The Materials Sector SPDR Fund has been in a bull trend since the end of the financial crisis. The trend has narrowed but remains upright since December 2016. The fund has been in a more specific trend channel since February and has created firm support and resistance levels. The fund is currently at that resistance level. Below I have laid out the reasons and...
AMEX:NAK With Trump Support we could see a big year for Materials.
As an extension to our recent post on the US Materials Sector, we have identified 8 US stocks which we think could strengthen in the coming months. Of particular interest is Mosaic (MOS): Mosaic is showing signs of base completion, as prices pressure the USD31.10 range highs. Improving studies anticipate a break towards the USD34.15 retracement, with scope for...
Within the US sectors space, we are seeing continued strength and outperformance (relative to the SP500 Index) in Energy, Financials and Industrials. However, there are early signs of improvement now appearing in the Materials sector, as prices extend the break above the 310.18 high of August. Focus is now on the 327.33 contract high of 2015, and whilst...
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It's about Quantum Materials Corp. (OTCQB:QTMM) a nanotechnology company that can make copious amounts of quantum dots. If you never heard of a quantum dot you are not alone. The average person doesn't understand, know if you can see them with the naked eye, how they are used or what they even are. Quantum dots are man made crystals 10,000 times smaller than a...