Allergan PLC. Stock Code AGN.NYS
Outlook
Price has peaked on 16th of January 2020 and had a correction that brought price back into the cloud. However, price has managed to stay within the cloud and did not give a bearish signal or trend during the correction process, maintaining the bullish trend. 3 days ago, price has managed to move back above the cloud again. This could be a hint that the correction process is over and price is likely to test the previous high at 194.70 again in the coming days. Conversion and Base lines could be about to have a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and also above the cloud. This combination is a strong hint of a bullish trend. MACD has just had a bullish crossover, confirming the correction is over and bullish trend could be in the process of forming. With these factors, we think the correction is over and price is likely to test its previous high again.
Strategy
$190.30 Buy
$194.70 Price Target
$188.50 Risk Management Stop
2 weeks Trade Duration
JPMorgan Chase & Co Stock Code JPM.NYS
Outlook
Price rally has peaked on the 2nd of January 2020. A correction followed but the correction was well supported by the cloud. Price stayed in the cloud for 6 trading days and managed to move back above the cloud 2 days ago. We think the correction may be over and a price test of the previous high is likely. Conversion and Base lines could be about to have a bullish crossover, which would confirm the bullish trend. Lagging Span had stayed above the cloud during the correction process but has yet to give a bullish signal. However MACD has a bullish crossover, hinting that the correction process could be over and a new bullish trend could move price back to the previous high.
Strategy
$136.70 Buy
$141.20 Price Target
$131.80 Risk Management Stop
2 weeks Trade Duration
