0I4A trade ideas
COTY Chart DailyHey people, COTY is in a fake bearish configuration with a slowdown in executed sell volume and a doji. Looking at the TIMEFRAME M1 we see a hammer candle with slowing down of the traded sales volume, it has come to bounce off the lowest of the bollinger. To test it and she is in the oversold zone, there is a great chance of a reversal to come and check the VWAP.
Then the base of the bollinger as well as the highest and finish on the top of the comfort zone. It is very plausible to breakout the price with the return of momentum at the same time the zone to interfere in the one above and land on the top that follows. See if the buying push is going to test the resistance before its breakout and check the top of the bearish channel.
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COTY Potential SetupMultiple bounces, volume looks good, might be setting up for a run in the next few days or so.
Market has been very feisty to say the least, so I'd definitely recommend the stop loss to be safe.
Please do your own DD. This is just my view on the stock. Not financial advice. Thanks!
$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 $COTY broke lower Friday? Let me know in the comment, would love to hear other's takes.
COTY broke out of the flag patternNYSE:COTY consolidated for a long time and is now ready to move forward. The stock broke out of the flag pattern, any pullbacks is an opportunity to buy. The anticipated price movement with the 3 targets are shown on the chart, stop is 6$.
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This is only my own view and not financial advice, do your own analysis before buying or selling
Happy Trading!
COTY ready for another move 60%COTY looks as if it is ready to make another move..it is currently resting comfortably above the 300 day moving averages...also getting ready for a 300 day ema/sma cross...rsi is above 50 and macd is flattening out in positive territory...my target is $11.00 (60% gain from current price)...IT'S YOUR MONEY, DYOR
COTY - Long again - going for 9-ish first - Great R/RThe first setup got invalidated and I got taken out by an obvious stop hunt... it happens.
Now it seems ready to rally and we could see a follow through day now.
I suggest using the low at 6.20 as a stop if you're more a risk averse type
or previous days lows if you're a more aggressive trader.
Price needs to break above this 6.9x zone first though.
$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.
Bull Flag on COTY: Breakout Would Bring Big UpsideBull flag has formed on COTY. I will be watching price action in anticipation of COTY attempting another breakout of that top resistance line...If a breakout occurs we could see some bigtime upside to $12+....COTY will release its earnings on February 3rd and with all signs pointing to a beat, I believe this could be the catalyst for that breakout and big upside.
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.
