BA is another one on my 60-stock Wyckoff position sheet in the Aerospace group, the leader of that group in fact. BA looks well positioned for significant upside but the group has been a laggard (BA, GD, LMT, NOC, UTX, RTN), however they have been beating the S&P the past week but most have a lot of upside overhead, excepting BA. BA still needs to clear that upthrust high of $394.28 indicated on Jrich's chart.
Appears like the buying will continue and the ES 2712 resistance will be tested. If it can get over 2814 that should confirm that the December dive under the February low was a terminal shakeout. Weekly bars:
Based on all the volume profile analysis I do ...... everything is bullish. It's now trading above the 2nd std dev of December, Q4 2018, and the entire year 2018. The December and 2018 bell curves on them were extremely bullish. As we head into January, want to see a continued breakout above 69.38. This is just conjecture and not the basis for the position I own, but if McDonald's stock can price in the $170's then it's only a matter of time for SBUX. They are everyhwere - even now in Italy of all places! As long as they continue to buy back stock it will keep rising.
Great chart notes! I'd find it very odd that if after 3 years worth of accumulation - there'd be a terminal shakeout leading to new highs, which would ultimately end in a UTAD. Would seem extremely paradoxical no?
And of course some wacky ass shit going on in SBUX. At the end of the day yesterday there was a high volume dump all the way down to previous day's most active price in the 67's. It hit over 69 in box AH and then again today. Now of course they're grinding it lower at the moment. Just have to shake my head at this stuff sometimes.
speaking of SBUX - there was a ton of call volume later in the day yesterday on the 60,65,62.5 I mean, just look at all this:
I noticed high call volume on SBUX too. There were another 8 or 9 trades yesterday morning where 1600 call options each were purchased with a $60 strike price .
@Rock Sexton - just want to bump attention to ATUS. I think you brought it up earlier in this thread.
I've been wanting to buy since the 19's, but figured it would need a good earnings report to break up out of the multi-year base. The ER is on 2/21.
Long BA @411.00 (1/2 position).... Its against my own rules to average down, but id make an exception here if 413 holds it up, cause i wouldn't mind keeping some BA in the lock box
Vanguard declared a 5.2% stake (~26 million shares) in ATUS on 2/11. https://fintel.io/doc/sec/1702780/000093247119004714/alticeusainc.htm
So how about that. TWILIO completed the deal to aquire SendGrid for $53.99/share. My point and figure was off by 49 cents. https://www.denverpost.com/2019/02/04/denver-sendgrid-san-franciscos-twilio-acquisition/
I've seen hundreds of charts with that setup. It's itching to really break out of that consolidation.
I got pushed underwater on BABA but now breathing better. However, it only has cause to 186 so watching closely as it comes into the 186.50 resistance level and 190.49 axis. Any thoughts guys? Daily bars:
An uncle of mine passed away in his 90s back in 2015. A couple of years prior he sent me a box full of cassette tapes and a course binder. The other day out of curiosity I opened the binder and are you ready for this, it is the Wyckoff course. There were tests that he took and mailed away to be graded and have mailed back. Looks like he aced all of them. If he were around today, I can assure you he would be involved in this thread. Keep up the good work.
Just from my experience with volume profiles ...... The move down to the 130's was a shakeout (which I detailed previously in here) It jumped back inside of an old range established in Aug 2017 thru April 2019 The point of control for that range was 177 Once price crossed above the POC it confirms the moves to the 130 was a shake out Price tends to range below/above the POC in the same mathematical measurement i.e $47 47+177 = $224
