ALL has shown a strong support around 103-106 range. Neckline is around the 116-119 consolidation range. RSI showing a consistent patter also for these levels on the weekly chart. Past RSI oversold 7 times in 7 years almost once every year except 2022.
Anticipating a retest to the 103 area if we fall back below 107- 105.50. If we get to 115 area we could easily...
The PEAD projected a Neutral outlook for $ALL after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 75%.
R/R trend with 3 propulsion dots.
Vscore = -1 resistance and RAF is at lower extreme.
Prices hit 21 propulsion today - could've entered short. Look for entry tomorrow.
Heavy downtrend.
Price has poised itself within an expanding wedge above an up channel that it has successfully broken out of
This is a bullish sign
The breakout can be distinguished by looking at the previous rejections at the top of the green channel ( double top in red)
Bullish
The PEAD projected a Neutral outlook for $ALL after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 100%.
Price has moved above the dominant green uptrend which was previously seen as resistance, now support
Price will move up within this up channel I have drawn, continuing the green trend line
Following the crash in 2008 Allstate has enjoyed explosive rally with circa 800% gains.
Is is over and are we observing a global correction?
Fundamental indicators:
Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years
Profit margin - quite low with 7% margin
P/E - good value with 10x ratio
Liabilities -...
Allstate Corp. has been on a tear over the past month breaking out of the $127 level and taking the express lane up 15% for the month of March. However the next road block will require alot more strength to move throgh as this will be the 3rd time in a little over a year that we attempt to break through the $140 level.
If the Relative Strength Index has anything...
ALL just reported higher revenue but missed earnings. It is on our buy list. I like the stop around 115 in case this fails as a bull flag. Good luck!
This is not intended as a recommendation to buy or sell. It is for informational purposes only.
The stock broke through a good resistance zone. I'm considering an approach to the previous high. Possibly a renewal as well. The potential is good, if there will not be overbought on indicators.
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I'm lookin at two possible All trade setups:
Long Swing Trade:
breakout from descending channel
Position: 7Dec 120 Calls
Entry: ~116
PT1: 120
PT2: 125
Long term Trade:
Holding support at 125 will trigger initial entry and DCA accumulation
Short Swing Trade:
PA back to bottom of channel
Position:
Entry: ~114
Position: 17Dec 110 puts
PT1:110
The WAE is setting on the 20 line, look what its done in the past.
The RSI7 is about to bust through the 30 line, looks what its done in the past, also divergence.
A Wolfe Wave is a chart pattern composed of five wave patterns in price that imply an underlying equilibrium price. Investors who use this system time their trades based upon the resistance and support lines indicated by the pattern.
