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Get this via email from another broker but thought it was a good copy/paste. Thought it was worth a share and could give a few trade ideas. Also should we get a 'quick trade ideas' section running again? Or maybe @JamesIG can sort a competition or something based on new trade ideas? ;)

  • Optimism is fading as the US’s power struggle with China and Iran continues. By Wednesday morning, markets across the globe were feeling deflated as investors signalled a lack of appetite for the current level of political risk. In the US, the Dow Jones, S&P 500 and Nasdaq closed on Tuesday down 0.6%, 1.1% and 1.8% respectively since the start of the week, while China’s Shanghai Composite had dropped 1.6% by its close on Wednesday. In Europe, the picture is slightly better, with the FTSE 100 remaining flat overall. Germany’s DAX is one of the few major markets to post a positive result: on Wednesday morning it spiked to €12,290.46, up 0.13% from the start of the week.
  • Disney shares to enter new magical era? Some analysts view the stock’s latest holding pattern as a signal to buy, anticipating a further breakout after the company’s shares reached a record-high of $143 last week. Meanwhile, the company’s streaming strategy is gaining steam as Hulu, which Disney owns 60% of, has racked up 3.8m US subscribers in the year to date – outpacing competitor Netflix. Can Disney shares retest last week's all-time high? 
  • Micron surprises investors with latest results. Shares rallied as much as 10% in after-hours trading after the chipmaker delivered adjusted EPS of $1.05 and revenues of $4.79bn last quarter – both exceeding consensus forecasts (although still representing a 39% year-on-year revenue drop). Overall, its shares are down 25.7% since its year-to-date high of $43.99 and 0.2% since the start of the year. Some analysts now view Micron as a buy opportunity – with BAML saying they see value in the company’s low valuation.
  • UK high streets still have their champions. While the high-profile turnaround struggles of Debenhams and New Look have been well-documented of late, stocks in sectors like sports retail and value apparel are bucking the trend with strong year-to-date growth. The 3 stocks bucking UK retail's spiralling decline.
  • Match Group enters buying territory. After a dip during the latter half of last week, the parent of dating app Tinder rebounded sharply, rising 7% to 71.48 through Monday. That puts the stock 5% below its flat-base buy point of $75.38, according to Investor’s Business Daily. Match’s stock has had a meteoric 58% rise year-to-date, powered by strong metrics around the Tinder app’s usage and plans to tap Asia’s legion of smartphone users.
  • FedEx reports estimates-beating results. On Tuesday, FedEx announced earnings of $5.01 per share based on revenues of $17.81bn, beating consensus EPS estimates by $0.20. The results do not seem to be enough to reverse the logistics company’s share price trajectory, though, which continued to fall in after-hours trading. On Monday, the Wall Street Journal reported that FedEx had been slashing prices to support its Express service – which also cut ties with Amazon earlier this month – sending the share value down 4.9% by Tuesday’s close.
  • Evercore switches tune on Spotify. Evercore ISI analysts downgraded the Swedish music streaming company from in-line to underperform, cutting its price target by $15 to $110, citing scepticism over the ability to meet Wall Street estimates. Spotify’s stock closed down 1% to $145.69 on Monday. Also on Monday Spotify was revealed to have been exaggerating the amount of “app tax” it pays on Apple’s App Store; Spotify’s CEO Daniel Ek has complained that Apple requires Spotify to pay a 30% tax on purchases made through Apple’s payment system; Apple responded by saying Spotify has never paid more than 15%. 
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  • Nike’s earnings missed expectations for the first time since 2012. The sneaker giant’s earnings fell short of Wall Street estimates, coming in at $0.62 for the quarter and $2.49 for the year, compared to the $0.66 and $2.55 expected, respectively. Analysts remain bullish on the stock, though, with Morgan Stanley’s Lauren Cassel saying ‘NKE remains our top pick’. 
  • Uber hits an all-time high. On Friday, the ride-hailing platform’s shares closed at $46.38, up 7% from Thursday’s open. The rally, which marks the first time Uber’s share price has closed above its IPO price of $45, followed news that the company plans to expand its services into West Africa. It remains to be seen if Uber can continue this momentum; its Q1 results, released on 3 June, showed net losses had more than doubled from $478m in 2018 to $1.01bn. 
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    • Amazon Inc., Elliott Wave Technical Analysis Amazon Inc., (AMZN:NASDAQ): 4h Chart 5 December 23 AMZN Stock Market Analysis: Looking for a top in wave (i) in place as we have taken out the previous top. The more conservative alternate is that wave {v} is in place and we are due wave 4.   AMZN Elliott Wave Count: Wave (ii) of {v}.   AMZN Technical Indicators: Below 20EMA   AMZN Trading Strategy: Looking for longs once the wave (i) top gets taken out.   TradingLounge Analyst: Alessio Barretta Source : Tradinglounge.com get trial here!         Amazon Inc., AMZN: 1-hour Chart, 5 December 23 Amazon Inc., Elliott Wave Technical Analysis AMZN Stock Market Analysis: Looking for a three wave move into wave a and we are now looking for a pullback in wave b. Ideally we will get support between 138$.   AMZN Elliott Wave count:  Wave b of (ii). s AMZN Technical Indicators: Between 20 and 200EMA. AMZN Trading Strategy: Looking for longs once the wave (i) top gets taken out.    
    • GBPJPY Elliott Wave Analysis Trading Lounge Day  Chart, 5 December 23 British Pound/Japanese Yen(GBPJPY) Day Chart GBPJPY Elliott Wave Technical Analysis Function:  Trend Mode: Corrective as wave 4 Structure:  abc likely zigzag Position: main blue wave 5 Direction Next Higher Degrees: red wave 5 of 5 Details:,  red wave 4 as correction is in play after that red wave 5 of 5 will start .     The "GBPJPY Elliott Wave Analysis Trading Lounge Day Chart" for 5 December 23, delves into the technical analysis of the British Pound/Japanese Yen (GBPJPY) currency pair within a daily timeframe. Utilizing Elliott Wave principles, the analysis aims to provide traders with a comprehensive understanding of the current market dynamics. The identified "Function" is "Trend," highlighting the primary focus of the analysis within the context of the broader market trend. This suggests that the overarching trend is considered the dominant force, providing valuable insights for traders. The specified "Mode" is "Corrective as wave 4," emphasizing the corrective nature of the current market movement. Corrective phases involve temporary price adjustments or sideways movements, and the mention of "wave 4" indicates the specific degree of correction within the Elliott Wave framework. The primary "Structure" is described as "abc likely zigzag," indicating that the ongoing correction is likely unfolding in a zigzag pattern characterized by three sub-waves labeled as 'a,' 'b,' and 'c.' Zigzag corrections are a common Elliott Wave structure. The designated "Position" is identified as "main blue wave 5," providing traders with information about the current position within the larger degree of the Elliott Wave pattern. This specific focus allows for a detailed analysis of the ongoing correction. The directional guidance for "Next Higher Degrees" is "red wave 5 of 5," suggesting an anticipation of the next upward wave within the larger Elliott Wave structure. This guidance provides traders with insights into the expected progression of the corrective pattern. Regarding "Details," the analysis notes that "red wave 4 as correction is in play," confirming the current corrective phase. It further states that "after that red wave 5 of 5 will start," indicating the expectation of the subsequent upward wave within the larger degree of correction. In summary, the GBPJPY Elliott Wave Analysis on the daily chart for 5 December 23, focuses on a corrective phase labeled as "wave 4" within the broader trend context. The analysis provides detailed information about the structure of the correction, the current wave position, and the anticipated next wave within the Elliott Wave framework.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!    
    • GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 5 December 23 British Pound/Japanese Yen(GBPJPY) 4 Hour Chart GBPJPY Elliott Wave Technical Analysis Function:  Counter Trend Mode: Corrective Structure:  A of red wave 4 Position: red wave 4 Direction Next Higher Degrees: B of 4 Details:,  Black wave A of 4 is in play , after that b of 4 expected. Wave Cancel invalid level:188.657 The "GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart" for December 5, 2023, provides insights into the British Pound/Japanese Yen (GBPJPY) currency pair within a four-hour timeframe. The technical analysis is grounded in Elliott Wave principles, offering a comprehensive understanding of the current market dynamics. The identified "Function" is "Counter Trend," indicating that the analysis is focused on discerning movements contrary to the prevailing trend. In this context, the emphasis is likely on a corrective phase within the broader trend, presenting opportunities for traders to navigate potential reversals or retracements. The specified "Mode" is "Corrective," highlighting the nature of the current market movement. Corrective waves are characterized by temporary price adjustments or sideways movements, suggesting a deviation from the primary trend. The primary "Structure" under examination is "A of red wave 4," indicating that the focus is on a specific sub-wave (A) within the broader corrective structure (red wave 4). This detailed analysis allows for a nuanced understanding of the ongoing correction. The designated "Position" is "red wave 4," providing information about the wave's location within the larger degree of correction. This suggests a focus on the specific phase of the broader corrective pattern. The directional guidance for "Next Higher Degrees" is "B of 4," indicating an anticipation of the next upward wave within the larger corrective structure (red wave 4). This provides traders with insights into the expected progression of the correction. Regarding "Details," the analysis notes that "Black wave A of 4 is in play." This suggests that the current phase involves the unfolding of the A wave within the larger corrective structure (red wave 4). Additionally, it mentions that after the completion of A, the expectation is for "b of 4," signifying the anticipation of the subsequent sub-wave. In conclusion, the GBPJPY Elliott Wave Analysis on the 4-hour chart for 5 December 23, offers a detailed examination of a corrective phase (A of red wave 4) within the broader trend. Traders are provided with insights into the current wave position, the expected next wave (B of 4), and key levels for wave cancellation. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!    
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