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Coty Inc.

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COTY trade ideas

$COTY. Bullish Triangle StructureTriangle presents a balance of forces between buyers and sellers, causing a sideways movement that is usually associated with decreasing volume and volatility. This pattern subdivide into 3-3-3-3-3 structures labeled as A,B,C,D,E. It is a continuation pattern that breaks in direction of the preceding move. It could occur in wave 4 in an impulsive structure, wave B in a zig-zag, and wave X connector in double and triple threes Elliott wave structures. It could also occur in wave Y of a WXY structure in which case it marks the end of correction.
NYSE:COTY
by andylegenki
COTY - Long - Bullish StockAfter two months of bouncing between $6.50 and $7.50, the stock saw lows in the range of $6.20. This occurred on significant volume with earnings occurring in less than two weeks. From a technical standpoint, the stock appears to have met a new resistance between $6.00-$6.22 (See graph for details). The fibonacci next resistance would be about $5.90, but I believe that is lower than the actual resistance based on previous price action. If the stock goes below $5.90 per share, I will consider exiting my position, but until then, I believe we are set up for a push back higher to the $7 range before earnings. From a fundamental perspective, this stock is very bullish. Luxury brand sales are at an overwhelmingly high demand (see multiple specials and articles by WSJ and CNBC). China retail demand is high. Plus, COTY just sold a portion of its business and received nearly $3b to pay down debt. Additionally, it acquired Kim Kardashian's beauty line. And of course, it has Kylie Cosmetics, which has recently expanded to new regions. And the Exec. VP was just quoted in a magazine saying that their Cover Girl brand had an unexpected surge in demand on Amazon Prime Day. I think we see an earnings beat and a significant jump in the stock price to reflect a multiple that is more in line with competitors like Estee Lauder and L'Oreal. I'm long on this stock. With this dip, I averaged down and picked up some cheap February 19, 2021 call options in anticipation of a strong earnings report. Edit: Also, on Friday with the dip, out of 49k options traded, there were 42k calls picked up.
NYSE:COTYLong
by colbyadd
$COTY and $PLTR - a look back at this past week$COTY was my first losing trade of 2021. But I wanted to go back and see what happened when compared to my winning trade on $PLTR. As you can see both had great runs a few weeks prior. They both then consolidated, and bounced around the new volume shelf. On Friday however, one broke one way and one broke the other way. I would trade this setup again if it presented itself. I think most of the time this would break in the upward direction. It's possible that this was just a good old fashioned shake out, and it took out some stops below. There are more gaps in the run up on $COTY and it's possible some were pushing to fill those gaps? Not sure. Only other difference I could see was that $COTY closed below the 20MA the day before. $PLTR was still above the 20MA. But it wasn't so far below to ring any alarms. Seems like typical chop around a level of interest. Anyway, let's see if $COTY offers another entry later, but I have moved on and now looking at other opportunities. Any thoughts on why $COTY broke lower Friday? Let me know in the comment, would love to hear other's takes.
NYSE:COTY
by CCInvesting
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