IOOF Holdings’ price recently reached near its multi-year support & bounced back up somewhat. Currently it pays out about 6% dividend yield, so the combination of price weakness & respectable dividend payment could make it an interesting trade. IOOF should not be seen entirely as dividend income asset but instead viewed as a tradable stock IMO given is fairly volatile nature. Short term price target would be about AU$9.00 from current levels, representing ~6% upside.
Allianz SE has broken above its multi-year resistance which was rejected twice previously. If it it stays above €170 with strength, its next major target is about €199, its 161.8% fib extension from 2016 low.
BHP Billiton has almost doubled since its Jan 2016 multi-year low, so does it still have strong legs left for more upside?
Looking at its fib retracement from the 2011 price top, it hit its 61.8% rectracement level & is now testing its 2016 recovery support trendline. A higher risk trade now would be long it back to its 61.8% level, but a stronger price action would be to see it clear that level & therefore clear to try & test the 50% level, around $31-32.
One of Asia’s largest diaper producers is making a come back after posting FY2016 losses.
Its chart is making a bullish rising triangle with ¥2611 being the key breakout level. If it stays above that, the next targets are ¥2666, ¥2818 & longer term is ¥2941, about 10% above current levels.
I like Overwatch very much & played alot of it when it was launched, so much so that it piqued my interest in $ATVI. Unfortunately recently it has been overshadowed by Battlefield, For Honor & the perennial GTA series which is still actively played.
$ATVI’s stock pattern is showing a bearish rising wedge with a well defined long term resistance. This is a tradable setup with very bullish sentiment supporting a short as its RSI diverges negatively.
$TLT’s incredible multi-year rising looks is almost too perfect, but this time it is facing immense rates rising pressure compared to previous years. Markets are pricing an 80%+ rate hike probability in 4-5 days time so it could be argued that $TLT’s decline has been priced in already in the short term, & therefore good for a “buy the news” long trade.
Breaking its long term support would require much more than expected rate hikes later this year IMO, so we shall have to wait & see.
High yield junkies are forming a bearish rising wedge. $HYG can continue to climb a little higher, but I’d watch that support line carefully to confirm this bearish pattern. Typically a bull market needs $HYG to rise too, so this may be a good sign for index bears. A break above the rising resistance should nullify this bear pattern.
After its recent huge revenue beat & subsequent ramp up, $EAS is taking a breather. Its leading research on colorectal cancer screening has created alot of interest recently.
Its 2017 support line is clearly defined, therefore trade according to its uptrend resumption or a breakdown of 2017 support.
Old Mutual has broken out of its triangle & is showing bullish moves. A strong clearance above its 100% fib extension at about GBX225.6 from its 2016 low gives it a postive upside vibe. 1st target is GBX240, followed by GBX272.
Canadian Pacific has been consolidating sideways almost a year now, & it looks to be making some short term trading ideas. A break up or down out of its short term triangle should lead to clearly defined long term support/resistances since its consolidation began last July.