Monday, February 6, 2017

New signals for 02-06-2017 $BMY $NOC $WMT $FDX $MET $SNA

Hi everyone,

The UltimateAlgorithm did not work properly for the past few days. That is why I did not post anything new. But for now it's working again, so let's get to it.

There are 3 new Buy signals and 3 new Sell signals for the upcoming trading session.

Buy signal was given to $BMY (last price: $50.78)

On January 24th I posted a Sell signal on Bristol Myers Squib stock, while stating the high volatility of the stock. Since my post the stock dropped more than 5% in two trading sessions, only to recover quickly during the last week. So, hopefully you were able to make a quick buck and get out of the Short position.

Now, according to the UltimateAlgorithm, it is high time for Buying!
The stock has gone over recent resistance and may fill the gap to $55.30-ish (about 9% reward).
I would enter a Long position here with a stop-loss under $50 for protection.

Buy signal was given to $NOC (last price: $231.36)

Another past Sell signal turned into a Buy, Northrop Grumman was featured just last week on January 30th, but here a stop-loss would have made you exit the position last Friday.
Right now it seems to have broken a recent resistance and the stock is headed for higher grounds according to my algorithm.

Consider putting a tight stop-loss as the trend is very delicate.

Buy signal was given to $WMT (last price: $66.50)

It may appear that Wal-Mart is also breaking its recent downward trend, however I would be very cautious with this stock and put a tight stop-loss around $65.60.

Sell signal was given to $FDX (last price: $188.21)

FedEx is probably seeing increased pressure from Amazon ($AMZN) who is said to have acquired a $1.5bn cargo hangar capable of dispatching 200 flights each day. The algorithm certainly thinks FDX is currently a NoGo.
Sell (short) under $184 where support was last met.

Sell signal was given to $MET (last price: $51.77)
MetLife saw its stock drop almost 5% in one trading session last week. The algorithm saw this as a signal and ordered a Sell (short) order.

A tight stop-loss over $53.07 may present with an attractive risk:reward opportunity to the downside.

Sell signal was given to $SNA (last price: $169.78)
I don't like the odds here at Snap On stock. The risk:reward seems too low for my taste.
Anyway, the algorithm ordered a Sell in this level.

To see general results of the algorithm click here.
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Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my About page for a full disclaimer.

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