XOM Exxon Mobil CVX Chevron Earnings Reports 1-31-20
Energy Stock Earnings Line-up for Jan 31: CVX, XOM
The overall guidance for fourth-quarter energy earnings looks rather bleak. The latest Earnings Outlook indicates a plunge of 47.1% in the energy sector’s fourth-quarter 2019 earnings from the year-ago reported figure. At the same time, the top line is likely to have declined 3%.
Read More | zacks.com/energy-stocks
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Amazon – The e-commerce giant’s stock surged more than 10% in extended trading after the company reported better-than-expected results for the fourth quarter.
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UNH United Health Group Inc Stock Chart 1-31-20
Good morning and welcome back to Smart Money Alerts...
As the stock market grinds higher and continues to find new buyers finding a decent risk/reward has been challenging.
The most common question I'm getting by email is "How do I know when to book profits?" There are two key types of markets to identify before you consider selling.
- Momentum: (My favorite type of trading) Fast-moving back-and-forth type price action. Get in at an extreme and get out at the next extreme. Stochastics or MACD are the indicators of choice. Clearly we are not in that market right now.
- Trend Following: I'm using the term loosely here to identify a market without consistent momentum. The type of market we are in today. Moving averages and moving average crossover system work best here. I use exponential for the shorter moving average and simple for the 50 and 200 SMA.
Today's trading opportunity comes from UNH United Health Group.
Despite the recent decline the stock price remains in solid bullish order flow and also found buyers at previous support. The bottom tail on yesterday's daily candlestick should serve to spook weak short-sellers into buying back the losing trade and fuel a move higher.
I'm game planning an buy-stop at $281.50 and looking at $300 as my initial profit target.
My stop loss comes in on a close below $276. The trade has nearly a 4-1 reward to risk ratio so I believe it's worth allocating the capital.
If you have any questions feel free to email me [email protected]
Have a great weekend!
Pete
