Tuesday, January 31, 2017

New signals for 01-31-2017 $SIG $XRAY $ESRX $STT

Yesterday was a fun day.. NOT!

Trump's immigration orders affected the market mostly in a negative way. Now investors are (finally) starting to realize what damages this guy is capable of.

The funny thing is, since Trump was elected the markets went up pretty sharply (look at the banking sector in particular). Oh how the tides turn. Mr. Market is a precarious b***h!

This may be the start of a pullback. Following yesterday's drop of 0.6-0.8% in the leading indices, the future currently point to a red start. But I'm still holding onto my positions (mainly ETFs with enough diversification to minimize risk, but still holding onto $VIAV $TIF and $AYR).

For today we have a mix of 2 Buy signals and 2 Sell signals.

Buy signal was given to $SIG (last price: $79.16)
Stop-loss at $71.76 (just below previous support) and a price target of $92.78 (next resistance).
Some wide price range brings in plenty of risk here. I would enter a Long position above $85.

Buy signal was given to $XRAY (last price: $56.34)

The great thing about this setup, is that Dentsply Sirona stock has been foming a super-clear technical trend line since December, that if broken will probably lead to higher prices.
Buy above $57, stop-loss under $55. I really like this setup (around 3.5 risk:reward ratio with a PT of $60.90)

Sell signal was given to $ESRX (last price: $68.11)

Similar trend to that of $XRAY (look above) just steeper and with limited upside potential.
Stop-loss above $70, PT at $64.50. Not loving this setup.

Sell signal was given to $STT (last price: $76.20)

Looking at the chart, it seems $STT is falling off a cliff any day now. Perhaps it has already started falling!

Would probably sell a position here if I had one, and might enter short with a wide stop-loss (around $81) with hopes to ride it down all the way to $69 and lower.

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