NYSE:BAC
BAC has earnings on Wednesday and I thought I would give my thoughts on potential trades ahead of the big day.
Firstly on the 4h chart, I notice that the price is below the red line currently(red represents the 200 day moving average) which is a strong support/resistance zone. Right now the price is below the line and it acts as a resistance as seen...
CMG is currently very extended and has bounced between 1320 and 1565 in 2021. With the two major pullbacks in CMG occurring when the stock had an RSI of above 60, it seems very likely that the company is due for another pullback now that the RSI has surpassed 70.
On the other hand, the stock does like to be volatile and can fake people out like on March 5th when...
Currently MCD is in a downward trend and is currently just above a gap area. The 50 SMA is about to cross below the 200 SMA and that is a bearish signal, along with the fact that recently the stock has been printing lower highs and lower lows. I am looking to short all the way down to $168 where there is a support line. This support line is above another gap and...
Disney falling below symmetrical triangle and could be looking to do a break down. Disney also fell below the cloud so it is likely to be bearish for a while. The cloud will be a major area of resistance and disney has a gap at 85-90 that it could possibly go back and fill with the upcoming earnings that are rumored to be bad. In addition, Disney was unable to...
NYSE:BABA seems to be able to take off. It is set up perfectly on the Ichimoku Cloud and does not look overbought or sold either. Long seems to be a good option as China has just started reopening its economy and this stock will likely do very well in the coming days compared to US stocks.
