On the chart we can see a rising channel pattern.
We expected that the price reach the upsloping resistance line and will come back to break down the lower support.
Our strategy is entering short once the breakdown occurs.
Target is shown on the chart.
It could be that GNW recovers quickly after the drop. If so, a new high should be expected. The company beats the EPS since 2021, every quarter. It could signal a decent business turnaround.
Is this stock underalued or being propped up by nothing... idk, webull gives out so many free gnw shares and they just said they were gonna do a 360 million stock reybuyback MAYBE so I doubt it will happen. Just dont make sense if your in debt and alll However this is my short term forecast. Rough draft. New posting here on trading view
NYSE:GNW
The longer the resting period, the greater the move and there looks to be a double bottom if this breaks the upside resistance. Sloppy charting on this, however, valid thinking. I don't care to draw diagonal lines, channels and horizontal levels are better IMO.
All,
Lets get down to the financials on this one. Outside the fact this is absolutely going to break here with this bullish ascending tri. I mean take a look at P/B at 0.14... Price to Free Cash Flow ... 2?!?! I mean forward P/E is 4.98?
THEY HAVE 1BILL REV AND NET MARGINS LOL @$4. SOME COMAPNIES WITH WORSE FINANCIALS THEN THIS TRADE AT $15-$55 ON HIGH...
Hello Community!
When looking at GNW we can see it clearly trading in a triangle on the weekly TF. We need to pay close attention to this pattern and watch to see how it reacts to the trendlines shown. Overall, this is usually a bearish setup but anything can happen in the trading world. Based on the technical indicators, it's looking bearish for the next week or...
Hello Community!
Before we begin please support my idea with a thumbs up and comment. It'll be greatly appreciated and will motivate me to post a little more!
This is a quick analysis. GNW keeps getting rejected on the daily timeframe, the RSI is overbought & THE MACD is heading towards the red. Until it breaks that diagonal resistance line drawn it will remain...
$GNW (Genworth Financial) is a stock that I purchased recently at $3.51 per share
Company has formed a flat base in the stock price in recent years but i feel its massively undervalued
The book value per share is up at $30 and we have the following data:
Free cash flow = 1.96 billion
Total cash = 3.31 billion
Total debt = 3.64 billion
So debts are perfectly...
Right now, we are in a pennant consolidation, and I expect the stock to break out with good stimulus news. This will occur in a standard 12345 elliott impulse wave, and then we will have a huge ABC correction because GNW's real fair value is around $0.69. Thus, we have our ABC correction, in which the C wave subdivides into an elliott 5 move impulse wave.
BREAKOUT STOCK ALERT
$GNW - Genworth Financial Inc Common Stock
Initial Alert Price: $3.45
Potential Price: $4.84
Potential Gains: 40.29
Stop Loss Limit: $
Looking GNW to retest the $4.76 Levels of Resistance after the company did not complete the steps required to meet the set end date for a merger with Oceanwide, although the two companies currently remain...
With a potential Buyout in the works, this weekly chart really points to a pop to the potential buyout price around $5.50. A break above the channel can bring some significant upside.
Positions include: $5.5 Call 1/15/2021, $6 Call 3/21/2021
Continuation of swing idea:
Once this clears the 5.25 resistance I expect a minimum price target of 7.60 but 8.62 would be the 1.618 fib extension from the cup low.
These targets line up with previous accepted trading range from 11/2014-07/2015
Gaps to fill above at 6.92 and longer term 11.95
Long, but not until Early Jan 2021 - Read Notes
Swing Trade Idea
I-H/S
Expected Cup and Handle. Finishing Cup now on wave (3).
---
Expected rejection from 4.81 to begin formation of handle. (Could short for wave 4 if you wish)
Anticipated L entry early Jan 2021
Only then, look at a long from 4.10 - 3.82 which should be the beginning of wave (5).
5.10 - R/R =...
If it can break recent resistance there may be a long swing trade opportunity here. This didn't really sell off while the rest of the market was today.
GNW tested the resistance zone between $3.67-$3.74, but it couldn't break through. I am therefore going to place a short trade, while my SL is at $3.75 and my first TP is at $3.00.
If GNW breaks through the minor support level at $3.00, next level to reach for would be $2.49 and then $1.98.
GNW is in a resistance zone right now which has been tested several times before. If we close below the lower resistance level today, it would be worth thinking about a short swing-trade.
