VIRT trade ideas
VIRT,,, Breakout Uptrend
I see a very strong uptrend in this chart. A good breakout has been set up and the price has been stablished above the last high. Although buying after a pullback is very safe, I think it may not come for retest. Based on the all-time high, the next target will be about 39 and a good SL at about 26.
Next market leader? $VIRTVirtu Financial is an American company that provides financial services, trading products and market making services. Although its fundamentals aren't what I ussually look for, its technicals are showing real strength in a market that laks strength.
After a nice leg up from a long cup & handle NASDAQ:VIRT took a rest and formed a nice flag pattern. In which, yesterday made a breakout and I bought a small position.
This flag has a flagstaff of 6.76 points. TA rules state that after the breakout, the price should reach the same 6.76 points up. That would be equal to target price near $42, or a +19% advance. But I'll be very cautious as there is a strong resistance level at $38.
With a IBD RS rating of 95 and a number 3 in the IBD Industry Group Rank, Virtu is posted to be one of the leaders of the next bull market. Today is a good example of leadership as is having a good follow through day with an up day of +3% while the NASDAQ is down -1.70%.
VIRT - Bull FlagWith RSI is strong @ 67 and rising, I am looking to buy the breakup of this bull flag between 34.85 to 35, with initial stop loss just below the low of the last 2 candles.
Let's see if it works out.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.
$VIRT potential break higher in MarchVirtu Financial is the second player after Citadel in the market-making industry. It smashed recent analysts' expectations and is very confident towards 2021. To remind you that the company makes most of the money during high volatility, which I expect to keep higher numbers throughout 2021, as there are a lot of market imbalances. More than that, $VIRT took the biggest market share out of names like $GME and $AMC. It behaved oddly after the earnings announcement, as $MS downgraded the company, citing the "lower volatility* will bring down revenues by 50%. I think $MS is wrong. I expect some consolidation around 26.5-27 with a move higher towards 34-35$, which should happen in March. This may come with a correction in the stock markets, as it has beta -0.29, let`s see. A break below the rising support line would cancel the scenario.
DISCLAIMER: I own calls, my opinion is not a recommendation whatsoever, just my view.
VIRT should blow out earnings!GS recently reported earnings. Revenue from trading stocks and bonds surged 93%, surpassing what analysts had expected by about $2.5 B.
This news bodes very well for HFT firm VIRT which reports on Aug 7. According to Zacks, Virtu Financial is expected to post EPS of 1.57, or a year-over-year change of +881.3%. Rev is expected to be $647.24 million, up 170.9% from the year-ago quarter.
Currently, there are only 6 analyst that cover VIRT with avg price target of ~$27, and a low of $24, and a high of $31. VIRT currently trading at the low range, right above the 50sma, a rising trendline, and tight consolidation area that has formed between $23-$24.
