Taking Costco to the long side. Got to know about the downgrade from Cramer's Mad Money, so thought to do technical analysis.
Cramer suggested buy at this level and technicals are supporting partially.
I prefer to see divergence in RSI but thats not there. So taking this trade by giving more weightage to fundamentals shared by analysts as Costco is least affected...
JP Morgan is ranging from the past three months, and its at the highest point in the range.
Stochastic indicator is entering into the zone
If it closes below 117.23 i.e the next support level, will go short with risk:reward of 1:1
ACHC making a double bottom in the hourly chart and recently crossed above an important fibonacci resistance level
Even RSI has diverged, going long
But not offering that great of a risk to reward, preferred to take a smaller size
Looks like a double top in ADS daily chart and already continuous two days, its made lower lows. Risk level has been defined, at 0.5 fib level, seeing a risk: reward is 1:4
The yellow line shows the original trend line before the first downward movement
The blue lines represent the current trend and its forming symmetrical triangle (www.investopedia.com)
In any normal market, the assumption is that the trend will continue, but considering apple gonna have Earnings and they got heavily impacted by Trade war, I feel the movement is...
