Notes/Thoughts:
* Great earnings record
* Strong up trend
* Breaking out of a ~13 month base with higher than average volume
* Recently used historical highs of $65.56 as support
* Last bullish hammer indicating tonnes of demand below $67.49
* Extremely close to the broken resistance of $67.49 offering a great risk/reward
Technicals:
* Sector: Basic Materials...
TRIGGER is required for any arrows on the chart. Please read below:
Having broken up the downtrend channel and a nice pullback, NYSE:DOW is now trading in an upward channel. However, $62 zone is counted as an important resistance on the road to higher targets. Looking close to the chart, we can see a great upward pin bar on the bottom of the upward channel,...
Trend analysis on $DOW potential future price action. This is considering supply chain issues on commodities , as well as inflation and Russian sanctions.
Buy (Entry Price) above the black line and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $60.48
Target Price: $61.96
Stop Loss: $59.00
If it crosses red line itll signal downward momentum.
Probably will bounce on the 50% or 61% fib levels as the 200 moving day average is located at the same place.
Recent golden cross. Bullish scenario if it bounces on red line and break out of gold trend
DuPont spinoff with 4.57% div yld and blended P/E of 7 versus normal of 18. With 28% forecasted drop in EPS into 2022, this would still give about a 118 target based on the normal P/E. This would be a 96ish target based on a P/E of about 15.
Slow growth, but it makes sense as an income play.
PT $67
The DOW hit a Resistance Level that we have not seen since OCT 2021. A reversal is imminent. Supply Zones will be retested for an overall bearish disposition.
Dow Inc. set for a Bullish run for the first quarter . With the price now Retesting the Daily B.O.S @ the highlight level . It should push up from our entry to the Daily M.S ( Higher low) than Retest to ( Lower High) before another Bullish movement to the 65.00 level which is also a valid level . Going long for the first quarter on Dow Inc....
Amazing example on Dow Inc. of a Trading Range following Wyckoff Distribution Schematic #2.
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What is a Trading Range?
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In an trading range there is a equilibrium of Sellers & Buyers causing price to move sideways but unknown to...
This is just my analysis and should be considered only for Study purpose and not as a recommendation as i am not responsible for your losses or get a share from your profits...
This is a simple price action study... looking at the chart i feel the Dow is ripe for a bit of a correction...
I feel we could stay away for a while and let the market play its card...
