SHOP TSX : Technical Analysis - 21 Oct 2020Based on daily time frame : Shop is currently in its down trend seeking its support levels S1 : 1270 and S2 : 1200. RSI is also depicting a downtrend. Anticipated buying range could be in the range of 1270 - 1290. If it breaks S1 at 1270 next buying area will be around 1180 -1200. Since earning date is near on 29 Oct, it is likely that the share price may go up after touching S1 level. Based on the historical trends shop's share price tend to go up a day before its earning date and is very short lived. Take your decisions accordingly for a short term gain.
Earningsplay
10/18 SEDG Earnings RunI usually don't like to post the ideas of others. You can't learn if you don't make your own mistakes and there is no satisfaction of accuracy if it isn't your idea.
I did like this forming a bullish triangle with earnings on 11/1.
As always I look forward to your comments for or against the idea.
APPL Due for A Correction Before Earnings?My Fellow Traders,
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Cheers & Happy Trading!
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ANALYSIS:
APPL seems to be falling back to support around the $117.00 region, which could fail to hold due to the circus act that is going on in Congress regarding stimulus. Therefore, I am predicting APPL to have a slight correction before earnings as it has in the past, and then gear up for a strong move to the upside once the announcement of earnings.
*Note: Any stimulus news would be a huge catalyst to the upside. So, keep your ears to the street regarding stimulus news.
Flag break, breakout to comeLVGO has been consolidating for a few weeks now showing a break of the flag after two weekly candles without a major breakout upwards. On the weekly you can see the PSAR flip to bullish which is a strong and reliable indicator. Short-term resistance is at 145.12 with a clear path above an ATH breakout of 150. Upcoming catalysts may include an update provided on the TDOC merger scheduled for Mon Oct. 9th or earnings in early November.
NKE Swing Idea
NKE showing strength on a relative basis compared to the S&P 500 index ( SPCFD:SPX )
Strong recent earnings reaction (+8% on earnings day) with new all-time high
Consumer Discretionary ( SPCFD:S5COND ) has been outperforming the SPX on a relative basis while trading above the 200-day moving average (indication of an up-trend)
Solid dip buy opportunity with limited downside risk using 122.50 as a stop.
PTON - pre-earnings rallyLooks like PTON is ready for pre-earnings rally.
Printed greate reversal candle on the daily and on the hourly chart.
Just got some analytic upgrades with average target above 100.
One of a few stocks in my watch list with green pre-market
Watching it closely to play the run up into earnings 10 september
Multiple bullish signs despite sell offA lot of others have pointed out the cup and handle formation that slack has made where the handle formed after the last earnings. But also that test of $40 prior to earnings is forming an ABCD pattern that puts the D greater than $50 by end of October. Slack's last earnings report was almost profitable, and their expectations is actually less than their last quarter's performance by 0.01. If slack can pull off a positive earnings, or even 4-5 cents positive they'll prove that they can take on MSFT and potentially emerge a winner in the work productivity space. Since Slack news is few and far between, I find that the recent bearish end of the week trend we had was only due to the way the rest of the market was reacting, since a lot of other big names have been dropping fast. At $29 slack is very near the $27.61 C point which proved to be a point of support. Additionally, $28.77 is a prior point of support from before the point C, which we bounced off of at the end of the day on the 4th (low was $28.00) showing a good sign that it doesn't intend to go lower.
🤖 WORK 9/2-9/4 ER Options Trade Plan 🤖Earnings Report tomorrow on the 3rd of September
LONG
Bullish over 33.15
PT @33.70, @34.75, @35.5 then hard resistance in the 38-39 (ATH) range
SHORT
Failing to hold above 33.70 and we'll pullback
PT @33.20, @32.70, and @31.95-32.15 solid support
Bullish on Walmart, short term long tradeI have been inactive here for past 2 years since I last post about FX picks and market analysis. Due to nature of job and industry I try to avoid conflict of interest, anyway below are my analysis of Walmart.
Background about Walmart:
*Brick & Mortar Shopping Mall with about 4,700 stores (Supercenter)
*>50% revenue comes from groceries, follow by breakdowns to General Merchant, Health & Wellness and Other category.
*2013-2015, Walmart allocated 50% capital to new stores but in 2020 it has reduced to <20% in new stores
*They have business exposure in US, China (Sam's Club) and India (Flipkart)
*Target customer in US (low-middle income), China (middle to high income)
*Competitor = Amazon, Reliance, Costco, Target
*Defensive stock
Through the *ugly help* of Covid19, Walmart is able to accelerate their e-commerce investment and adoption rate, specially on their Walmart+ subscription plan which started 7th July (share price shot up 7%-8% intraday). Walmart Plus membership will reportedly include same-day delivery of groceries and other merchandise sold by Walmart. Think of Walmart Plus as the retailer's answer to Amazon Prime. It is a new membership program designed to compete with Amazon Prime. For a traditional brick & mortar business to transit and evolve alongside with technology adoption, I am pretty positive of Walmart's Omnichannel solution strategy (is a multichannel approach to sales that seeks to provide customers with a seamless shopping experience, whether they're shopping online from a desktop or mobile device, by telephone, or in a brick-and-mortar store.) In July 29 they release a new online services "Ask Sam"; accommodating to customer's specify request such as price checking and locating fine products. While not forgetting about covid19's preventive measures they also added Curb side pick up for customers. (Lets just view it as their social corporate governance responsibility)
Moving forward, Walmart is putting greater focus on E-commerce, growing their online platform awareness and increase market dominance over the time via acquisition/partnership with Flipkart (81% stake), JD.com (10%) and Shopify (10% stake). The deal will open Walmart's Marketplace to Shopify's small business sellers, with the goal of bringing 1,200 Shopify sellers to the marketplace this year. Back in Q1 earning report, management has highlighted U.S. ecommerce sales shot up by 74% as the coronavirus outbreak drove more shoppers to buy online and pick up outside Walmart stores, as there are currently no clear vaccine for now, I believe that online grocery shopping data will remain sticky till Q4.
Catalyst - These are some events that are in favour of Walmart's share price
1. "Amazon says it is out of stock of household items and deliveries are delayed due to coronavirus demand", although this news happened back in mid-May, however this could also translate to lost of dissatisfied customer.
2. Walmart+ vs Amazon prime. Price and services competition. (competition of market share, shift in price sensitive customer)
3. Expended operating hours from usual 8pm to 10pm
4. More calls vs put for 21 August expiry options
I see this as a strong defensive stock similarly to how other retail supermarket stocks in other countries had rallied and remain bullish on their upcoming earning report on 18th. I am expecting better than expected earnings on their core business grocery and modest decline in their other segment of the business. This should also fit a nice breakout play to $145+/-
If you are bullish on this sector but cant decide which stocks to hold why not go for both Walmart and Target with decent portion of weighted portfolio. I am vested and above are just my small sharing. Good luck stay safe.
❗ DOCU (8/31) - (9/4) ER Options Play ❗$DOCU ER (9/4)
Current price @216.30
LONG
Bullish Above 215
Price Target @221.20 (Resistance on Friday)
Ideal Target @228-229 (Resistance, near ATH)
Breaking above ATH and we'll push to 239-240.
Play Invalid under @214.40 (SL)
SHORT
On the downside, break and holding under 214.60 and we'll pull back to 206.69-208.10
Applied Materials earnings previewOn Thursday, Applied Materials (AMAT), the global leader in materials engineering solutions for the semiconductor industry, is expected to post 3Q EPS of $0.94 compared to $0.74 last year on sales of $4.2B vs $3.6B a year ago. The stock has an expected move of 5.2% and dropped 4.4% after the last earnings release. The stock has 22 buys, 5 holds and 0 sell recommendations according to Bloomberg Consensus.
Fortinet earnings alertLooking at a daily chart from a technical perspective, the stock remains bullish as an uptrend is starting to take shape. In the short-term, prices have been in a consolidation zone between $152 and $121 since the last time the company reported earnings. Look for a break in either direction. A break above the consolidation at $152 would call for a resumption of the uptrend towards a measured move target of $182.50.
ROKU EarningsROKU has formed an amazing setup ahead of its ER this week. After a higher run up at the beginning of July, it has consolidated into a great bull flag that looks ready to take off again before and after earnings. Using the length of the flagpole ROKU has a good long term bullish case to reach a new ATH and potential push further towards $195 or even $200. Note that the RSI is slowly reaching that overbought region so it may be due for some further consolidation before hitting those levels. In the meantime, ROKU's ER run up provides a good opportunity to ride the wave up. We know that ROKU can be a fast mover, and I think there is potential for a big single-day gain as it nears earnings, and maybe even after. Remember, however, that playing earnings is even riskier than normal options trading, so be aware of the IV heading into this week.