Per the council of foreign relations, these are the following current global conflicts. I've included a brief description of each conflict. It's important to understand these if you're planning or already are investing in defense stocks.
Per TA, I've labeled bearish price targets, bullish price targets, relevant trends. It looks overvalued from analysis on ITA,...
Broke out of falling wedge around 109 and is moving well in the supply zone.
With two wars, geopolitical risks are high and this could play out as a good hedge.
First target would be around 117. New pivot there might set this up for higher price.
I am long from 109.50
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Strong G/G trend in a sector that should continue to benefit from arms sales and production.
21/34 Propulsion support, Darvas levels, Darvas 3.0 and Vscore support.
Volume support is priced lower. This may end up being a multiple price entry or an entry @ lower prices.
Entry - 115.60 minor low breakout
Profit - 117.20
Stop Loss @ 25%
Options are...
Fundamentally:
Raise of world instability and wars risks.
War in Ukraine
Future possibility of NATO vs Russia conflict
Technically:
I see a clear impulse after correction. Will wait for wave 2 to add more to this trade. Currently, have position lower.
In M1 good PA reversal signal.
No a financial advice.
Sector where names like Boeing , Lockheed Martin and Raytheon are traded..
If you look at all 3 of those , you'll notice massive moves the last 2 weeks that mirror the moves in this sector
We're are at supply area and it's looking like a reversal from here, RSI and CCI are already turning over.
Here's a link to stocks that will be exposed posed to a...
ITA has been in a downchannel even before invasion. It only overshot during invasion to make an ATH @113.37. Since then, it made an ABC corrective wave & came back down to retest channel base near the 93 zone.
BULLISH CASE: it bounced after retesting channel base @93 but was stalled by ma50.. 93 is a VOLUME PROFILE zone & is the Fib 0.382 retracement level. It is...
ITA is a MIC etf
Slowdowns often result in some MIC stuff
That's about it
Chart wise i just want to see some bullish divergence on the rsi ideally
Otherwise it's trying to bottom imho
TRADE AT YOUR OWN RISK
ITA has tested the 107-108 level six times, with each test the supply at that area weakens making it more likely for a breakout. I expect this to rally up to the 112-113 area.
Looking for ITA ( a defense aerospace tech ETF ) to visit the buying zone between 96.00-94.50 soon (10 days ish ).. Buying as much as I can afford in that zone and holding for a run into 105-110 in the next 3-6 months. This defense stock is ready for some war.
