*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Recap: My teams still holding $CLF shares from our three entries at $13.27,...
I posted a chart on my investment in CLF prior to this chart.
The good news today is the announcement that the company used free cash to retire the series B preferred stock related to the ArcelorMittal deal thus effectively reducing proforma share count by 10%. This is a positive earnings driver for the share price upward over the next two quarters.
The $22...
Hopefully you find the chart helpful in terms of Supports & Resistance etc.
we refrain from adding commentary on the chart as that is reserved for our members and we are very conscious of not giving financial or trading advice.
Thank you for taking time to consult our chart and we would really appreciate a like, follow or comment.
It looks like a breakout is about to happen.
The overall picture looks bullish.
We got above the P-Pivot point, also reclaimed the 20 EMA once again.
As for the indicators; RSI and MACD indicate more upward movement.
The only concern is that the price is stuck between the 2 EMAs.
We have to get above the other one as well, with high volume!
Short term price...
Going back almost a year the MACD is at the same crossover point from a big run after positive earnings last year. The only thing holding this back is the current disaster the government has on market conditions. I am still bullish with hopes we see a run to near all time highs in the next couple of months if earnings is positive.
Looks like a good reversal going into another bullish wave. Bounced at key support levels and w/ fears of inflation it wouldn't be surprising to see more volume going into other sectors such as non-energy minerals.
CLF has been on an upward trend for several months now following a trading channel very nicely in the stand deviation ranges. The stock has recently been on the decline pushing outside of the dev channel today. Is this sign of a reversal of trend to the downside or a continuation of its recently predictable pattern to the upside? Just an idea it continues with...
Thesis: Playing the bounce off of the bottom of this channel. Might dip just a bit more first to $23.
Target: $28
Trade vehicle: 9/17 $25 calls @ $0.54
CLF, despite a recent jump in HRC1! steel futures, continues to selloff.
It's day candles reveal a 3-peak pattern commonly understood to be a "Head and Shoulders".
Despite the modified (angled) neckline, I still read this pattern as incredibly bearish.
CLF is also quite close to invalidating a strong 1y trendline (pink) for the second time in the last...
White lines - Channel
Purple line - Split channel
Bear diamond - Yellow lines
Bear diamond spotted on CLF, Fell through support yesterday but i missed it. Target is channel bottom around 20$. Bounced off split channel today.. good entry below 23.20 -23.00
Here’s another textbook channel play on the ticker $CLF. Currently, we’re at the very bottom of the channel, bouncing perfectly on our line and slightly consolidating. Previously, there was a break to the downside but we saw a rejection at the $19.76 line of support before returning to the ongoing pattern and continuing its momentum to the upside. We don’t see any...
According to Traders-Paradise Algorithm, this has a high chance of going up as the TakeProfit & StopLoss strategy indicate.
For day traders - 11/8/21: High chance for going up today.
MacD and RSI on CLF calling for a selloff, I think we'll see it follow this ABC type correction pattern instead of a complete dump. If it tests white support line at point (C) I will be adding heavily to September calls. Currently in a short position. MacD is almost identical to every single prior selloff. Ultimately I am long this stock but the short term swing...
Very difficult entry point, but excellent risk management. The stock is still in a long trend, so a trading idea is to retest either the trend line or the support level, which will give us confirmation at the beginning of a short trend and confirm a downward trend.
Let me remind you once again that these are just scripts. If it follows the script, then you can...
I'm anticipating a dip at the bell Wednesday, followed by a climb to the 26.60 or possibly 27.60 area, completing the 4th channel cycle, before earnings.
