Under Armor may be showing signs of life as it posted lower than expected earnings loss & revenue was +7%. Could it be jumping on low expectations alone? Its still in its growing pain phase & I think investors will give some benefit of doubt that its management will turn things around sooner rather than later. Majority of its recent ratings have been downgrades so it won’t take much to surprise the market, in my opinion.
It broke above its short term falling resistance of what looks like a larger bullish falling wedge. Initial target is ~$23, followed by $25. The big gap from $31.50 is a long term story.
The perpetual underperformer may finally turn a corner? I don’t think so, well not yet as it has alot to prove. Don’t even get me started about how mismanaged it is as there are already alot comments on that. It recently broke above its falling short term resistance line & that is a bullish sign. Short term upside target is ~$18, and there should be consolidation there before attempting to break above the longer term resistance.
Europe has been in stock bear market since 2008, but recently has shown signs of life. If it can break above its 10 year old resistance, that could be the sign of a new multi-year European bull stock market. The resistance will be very closely watched & it also happens to be on its 38.2% fib retracement from its 2007 highs. I expect consolidation here before attempting a break higher.
Merck & Co is trading near its multi-year support now & just above its 2008 top. $61.65 is an important major support level & a quick recovery back to higher prices could push to much higher prices. Initial target of $67, followed by $74.
Verizon has fallen back to its multi-year falling resistance. It has recently an unlimited data package & there are concerns of its future revenue growth & its ability to fend off competitors. It has the highest gearing amongst its industries but has a big market share. It currently pays ~4.89% dividend yield & recently has more analyst downgrades than upgrades, so the downside could be argued to be priced in to an extent. It is currently just above is multi-year support & may be a good long trade soon.
Munich RE has broken above a resistance of about €185. If it stays above with strength, next target is its 23.6% fib retracement level of €190, followed by €206, its 2015 top. It reports next earnings on 09 May 2017. Bulls have to be aware if it breaks that clearly defined support line.
Continental has been a good trade as its rising trendline has been consistent for the past 6 months. Recently it broke out of short term falling consolidation & is looking to go up towards €203 again, followed by €214. Its low total debt to equity, decent ROE & fair net profit margins has helped to boost investors interests in buying this stock. Next earnings report on 09 May 2017.
Bitcoin has recently gained +30% from its March lows, & at current prices about +60% from 2017 YTD lows. Key support is US$1136-1146, & a good long trade would be to wait for it to clear its 2017 falling the resistance line with strength first. Initial target is $1292 followed by $1488. A break below $1146 may be a concern for bulls.
PSM is back to its rising support price line & its RSI also shows the same trend. This €9.45B market cap coy’s price pattern is showing a possible inverted head and shoulder bull pattern. A safer trade would be to wait for it to clear its Aug 2016 price of €41.60. Above that is quite an obvious gap fill to much higher prices.
Long term chart:
Short term chart:
Beiersdorf is the maker of Nivea, Eucerin and many other well known skincare products. Recently it has hit new historic highs & the question is will it continue its uptrend. Short term trend support is about €89.50, & its better to wait for a pullback to around price before going long, or shorting it if it breaks below short term support. Mid term long target is about €98.50, about 8% from current levels. It next reports earnings on 27 April 2017.