The following notes & charts outline the entry criterion, price targets, suggested stop & beta-adjusted position size for a swing trade in PM, Philip Morris International.
Technical Analysis of the Consumer Staples sector via XLP along with several of the top components that made offer objective swing trading opportunities. The video covers both the outlook for the Consumer Staples sector as well as the top components, many of which appear to be setting up as both long & short swing trading opportunities. As this video ran much longer than I had intended, I will follow up by posting charts on XLP and any of the stocks covered in this video that stand out as potential trading opps at this time asap. For those with the time or [...]
The tobacco stocks got smoked on Friday & member @stock51 in the trading room has asked me to take a look at the sector following last week's carnage in many of those stocks to share my thoughts. Starting with the tobacco sector, we can see that the recent 13% correction was far from unexpected as the charts were clearly bearish. The tobacco sector printed a divergent high on the peak back in mid-June. Friday's meltdown, although I'd imagine there was most likely a news and/or earnings-driven catalyst assigned to it, was also triggered by a significant technical catalyst; a breakdown below [...]
The following short trades will be moved to the Completed Trades category. While none of these trades reached their final price target, many of these trades did hit one or more profits targets before bouncing & exceeded their previously suggested (or any reasonable) stop level(s). As the charts on some of these trades still remain longer-term bearish, feel free contact me if you are following any of these trades & I will be glad to post or email and updated chart with comments. There are a few Active Short Trades under review that may be removed soon as well but the [...]
The PM short trade has now hit the first profit target (yellow uptrend line) for approximately a 10% gain since the previous entry. PM was first triggered a short entry on a break below the white uptrend line back in August and basically stalled out for months after that. The trade was updated back on May 21st as offering an objective add-on or new short entry on a break below the new orange downtrend line shown on this updated daily chart (also shown on the 2-day chart in that previous post). As of today, the first target (yellow uptrend line) has [...]
PM was actually added as a short trade when it made a very brief fake-down (false breakdown) of the daily rising wedge pattern all the way back in August. However, the stock is still only about 4 points or roughly 5% above that previous entry and as the chart has remained bearish and very toppy looking for months now, I've left it on as an Active Trade. Based on the charts (2-day & weekly shown below), I am adding PM back as a new short setup or add-on trade to be triggered on a break below this 2-day period uptrend line [...]
I've put together a comprehensive video analysis of the S&P 500 index including technical overviews on 22 of the largest components of the sector, similar to my recent $NDX/QQQ top 10 holdings video. I do have to warn you that at 39 minutes, this is my longest video yet. Therefore, this is my gift for you insomniacs, masochists and those who are gluttons for punishment. All kidding aside though, if you don't want to sit through the entire video you can skip to the sections that you might be interested in. The video starts with an overview of the $SPX beginning [...]