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Stock Picks: Entergy and Extra Space Storage Incorporated

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The S&P 500 (SPX) has managed to close at 2,656.30 on Friday, April 13. The index ended the week above the immediate resistance of 2,650. The market needs this cushion considering the conflict brewing in Syria. This uncertainty might increase selling pressure that can drive the index down.

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As SPX struggles to stay above 2,600 support, let’s look at stocks that near firm support levels.

ETR – Entergy Corporation

Entergy Corporation (ETR) is an integrated holding company incorporated in 1992. Primarily engaged in electric power production and retail distribution operations. The company delivers electricity to 2.9 million customers in Texas, Mississippi, Louisiana, and Arkansas. The company currently owns and operates 30,000-megawatt aggregate electric generating capacity power plants.

Technical analysis show that Entergy appears poised to reclaim resistance of 80. This comes after the stock generated a higher low of 71.95 in February 2018. To complete the breakout, ETR must print volume of around 5 million on the daily chart. Those who bought the higher low might take profits at the resistance. The stock needs buyers to absorb the selling pressure.

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In addition, fundamental analysis show that the trailing twelve months (TTM) price to earnings ratio (PE ratio) of ETR is 34.68. Even though the PE ratio looks high, it appears to be low in relation to the stock’s five-year PE ratio range which has been 9.428 – 86.35. Based on this range, it seems that ETR may have some more room to grow.

The strategy is to buy the breakout at 80 as long as the volume requirement is met. If bulls successfully reclaim the resistance, they will use it to create a base and climb to our target of 98. The process may take more than six months.

Weekly ETR Chart

Monthly ETR Chart

As of this writing, the Entergy Corporation stock is trading at 79.09.

Summary of Strategy

Buy: Breakout at 80 as long as the stock prints over 5 million in volume on the daily chart.

Target: 98

Stop: Close of 74 after the breakout.

EXR – Extra Space Storage Incorporated

Extra Space Storage is an American company that acquires, owns, operates, manages, develops, and redevelops self-storage units. Founded in 1977, it is a self-administered and self-managed real estate investment trust (REIT). Now with 1,483 facilities across the US and Puerto Rico, the company has around 107 million square feet of net rentable space in approximately 960,000 units.

Technical analysis show that EXR is creating a large bullish continuation pattern on the weekly chart with a breakout point at 88. To complete the breakout, the stock must generate over 4 million in volume on the daily chart. Those who bought the higher low at 80 will most likely lock in their gains at the resistance level. The stock needs buyers to accommodate the increased selling activity.

Moreover, fundamental analysis show that EXR’s trailing twelve months (TTM) PE ratio stands at 23.16. The stock has upside potential because its average PE ratio (TTM) in the last five years has been 35.68.

The strategy is to buy the breakout at 88. If bulls complete the breakout, they will gather enough momentum to catapult EXR to our target of 106. The process may take more than six months.

Weekly EXR Chart

Monthly EXR Chart

As of this writing, the Extra Space Storage Incorporated stock is trading 87.08.

Summary of Strategy

Buy: Breakout at 88 as long as the stock prints over 4 million in volume.

Target: 106

Stop: 83

 

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.6 stars on average, based on 145 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Stock Picks

Stock Picks: Essex Property Trust Incorporated and Edison International

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The S&P 500 (SPX) resumed its climb yesterday, April 16, 2018, as it closed at 2,677.84. The price action encourages those who bought around 2,600 to keep holding their positions. This helps ease selling pressure, which may help bulls continue their ascent to the top end of the range at 2,800.

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As the index shows signs of life, let’s look at stocks that are about to breakout.  

ESS – Essex Property Trust Incorporated

Essex Property Trust (ESS) is a publicly-traded real estate investment trust (REIT) company that acquires, develops, redevelops, and manages apartment communities. Founded in 1971, what started from 16 multifamily communities has now grown to 59,645 homes in 250 communities. The company operational segments include Southern California, Northern California, and Seattle Metro.

Technical analysis show that ESS is primed to take out resistance of 244 and trigger the large inverse head and shoulders pattern on the daily chart. To breach the resistance, the stock must print volume of at least 1 million shares on the daily chart. Bottom pickers are likely to dump positions at the resistance. ESS needs breakout buyers to come out and overwhelm sellers.

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In addition, fundamental analysis show that the trailing twelve months (TTM) price to earnings ratio (PE ratio) of ESS is 37.33. While the PE ratio looks high, it is still way below the stock’s five-year average of 54.99. Based on these figures, we can say that ESS has some more room to grow.

The strategy is to buy the breakout at 244 after the stock generates volume of 1 million shares. If bulls take out 244, they will gather enough momentum to sustain a climb to our target of 268. The process may take six months.

Daily ESS Chart

Weekly ESS Chart

As of this writing, the Essex Property Trust Incorporated stock is trading at 245.30.

Summary of Strategy

Buy: Breakout at 244 as long as the stock prints over 1 million in volume on the daily chart.

Target: 268

Stop: Close below 240 after the breakout.

EIX – Edison International

Edison International (EIX) is a public utility holding company. Founded in 1886, it is the parent company of Southern California Edison Company (SCE) and Edison Energy Group Incorporated (Edison Energy Group). SCE supplies and delivers electricity to Southern California, while Edison Energy Group is a holding company for subsidiaries focused on finding business opportunities across energy services.

Technical analysis show that EIX is poised to take out resistance of 65 and trigger an inverse head and shoulders reversal pattern on the daily chart. This comes after the stock generated a higher low of 61.47 on March 26, 2018.

To complete the breakout, bulls must generate volume of at least six million shares on the daily chart. Those who bought the bottom and those who bought the higher low are likely to take profits at the resistance. The market needs buyers to absorb the selling pressure.

Moreover, fundamental analysis show that EIX’s trailing twelve months (TTM) PE ratio stands at 38. This looks like a high PE ratio but it is still low in relation to its five-year PE ratio range which is 10.57 – 225.55. With such a wide range, EIX has a lot of upside potential.

The strategy is to buy the breakout at 65 as long as the volume requirement is met. If bulls complete the breakout, they will gather enough momentum to push EIX to our target of 72. The process may take more than a month.

Daily EIX Chart

Weekly EIX Chart

As of this writing, the Edison International stock is trading 64.64.

Summary of Strategy

Buy: Breakout at 65 as long as the stock prints over 6 million in volume on the daily chart.

Target: 72

Stop: Close below 63 after the breakout.

 

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.6 stars on average, based on 145 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Stock Picks

Stock Picks: Cincinnati Financial and Dominion Energy

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The S&P 500 (SPX) went as high as 2,653.55 yesterday, April 9, 2018, before succumbing to selling pressure and closing the day at 2,613.16. With this price action, it appears that the index is now facing resistance at 2,650. Bulls need to go above this level to relieve selling pressure.

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As bulls work hard to stay above 2,600, let’s look at stocks that are near firm support levels.

CINF – Cincinnati Financial Corporation

Cincinnati Financial Corporation is a Fortune 500 insurance holding company. Incorporated in 1992, it offers property and casualty insurance through a family network of insurance and financial services subsidiaries including The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The company’s five operational segments are commercial lines insurance, personal lines insurance, excess and surplus lines insurance, and life insurance and Investments.

Technical analysis show that CINF appears to be creating an ascending triangle pattern on the weekly and daily charts with the breakout point at 78. While the stock breached the resistance in August 2017, volume was lacking. The stock needs to print over 2.5 million in volume as those who bought the bottom are likely to lock in gains when bulls try to make another attempt at breaching 78 resistance. The stock needs buyers to absorb the selling pressure.

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In addition, fundamental analysis show that the trailing twelve months (TTM) price to earnings ratio (PE ratio) of CINF is 11.61. The low PE ratio tells us that the stock may not be fairly valued as its five-year average has been 17.12. The price of the stock might increase based on the PE ratio because stock prices usually catch up with the company’s earnings.

The strategy is to buy the breakout at 78 as long as the volume requirement is met. If bulls successfully complete the breakout, they will use it to create a base and move to our target of 88. The process may take less than three months.

Weekly CINF Chart

Monthly CINF Chart

As of this writing, the Cincinnati Financial Corporation stock is trading at 72.77.

Summary of Strategy

Buy: Breakout at 78 as long as the stock prints over 2.5 million in volume on the daily chart.

Target: 88

Stop: Close of 75 after the breakout.

D – Dominion Energy Incorporated

Dominion Energy Incorporated is an S&P 500 company that produces and transports energy. Incorporated in 1983, its asset portfolio includes approximately 26,400 megawatts (MW) of generating capacity, 6,600 miles of electric transmission lines, 57,600 miles of electric distribution lines, 14,900 miles of natural gas transmission, gathering and storage pipeline, and 51,300 miles of gas distribution pipelines. The company’s subsidiaries include Virginia Electric and Power Company (Virginia Power) and Dominion Gas Holdings, LLC (Dominion Gas).

Technical analysis show that D has broken support of 68 on March 28, 2018, and it is well on its way down to support of 65. This level is one of the issue’s strongest support. D has respected it since January 2014. More importantly, the stock has been generating extremely high volume in the last four weeks. This suggests that bulls are coming out to defend the support.

Furthermore, fundamental analysis show that D’s trailing twelve months (TTM) PE ratio stands at 14.06. The stock has some room to grow because its average PE ratio (TTM) in the last five years has been 35.87.

The strategy is to buy as close to 65 as possible. If bulls hold on to the support, they may use it to climb to our target of 76. The process may take six months.

Weekly D Chart

Monthly D Chart

As of this writing, the Dominion Energy Incorporated stock is trading 66.37.

Summary of Strategy

Buy: As close to 65 as possible.

Target: 76

Stop: 62

 

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.6 stars on average, based on 145 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Stock Picks

Stock Picks: CVS and XEC

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The S&P 500 (SPX) continues to respect 2,600 support as it closed at 2,604.47 on Friday, April 6, 2018. The good news for bulls is that RSI appears to be on the rise. A bullish divergence can be spotted on the daily chart and this might indicate that the end of the correction might be in sight.

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As the index starts to gather momentum, let’s look at stocks with promising setups.

CVS – CVS Health Corporation

CVS Health Corporation is a healthcare company and retail pharmacy with its headquarters located in Rhode Island. The company has close to 10,000 retail sites across 49 states and locations outside the country including Brazil and Puerto Rico. CVS touts over 2.5 billion prescriptions managed or filed as they serve 5 million customers per day.

Technical analysis show that CVS appears to have capitulated on December 4, 2017 when volume surged to 40.465 million, which is over 295% of its average daily volume. While the stock continued its drop, it appears to be respecting support of 60. In addition, a bullish divergence can be spotted on the weekly chart. This suggests that the downtrend might be over soon.

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In addition, fundamental analysis reveal that CVS’s PE ratio (TTM) is at 9.826. The low PE ratio indicates that the stock may be undervalued as its five-year PE average has been 19.41. The price might increase based on the PE ratio because price often catches up with the company’s earnings.

The strategy is to buy as close to 60 as possible. If bulls continue to defend this level, they will use it to create a base and march to our target of 83.5. The process may take less than three months.

Weekly CVS Chart

Monthly CVS Chart

As of this writing, the CVS Health Corporation stock is trading at 63.38.

Summary of Strategy

Buy: As close to 60 as possible.

Target: 83.5

Stop: 56

XEC – Cimarex Energy Company

Cimarex Energy Company is a natural gas and petroleum exploration and production firm with operations in Texas, New Mexico, and Oklahoma. As of the end of 2017, the company had a proved oil and gas reserves amounting to 3.35 trillion cubic feet equivalent. In addition, it owns interests in over 3,000 oil and gas wells.

Technical analysis show that XEC appears to respect support of 89.50. The stock dropped to as low as 87.98 on April 2, 2018, but bulls stepped in to defend the support. In addition, a bullish divergence was seen on the RSI of the daily chart. This indicates that the stock is gathering momentum that could reverse the trend. All of these are happening as bulls create a base above 89.50 support.

Furthermore, fundamental analysis show that XEC’s trailing twelve months (TTM) price to earnings ratio (PE ratio) stands at 17.31. The stock has some upside potential because its highest PE ratio in the last five years has been 41.25.

The strategy is to buy as close to 89.50 as possible. If bulls preserve the support, they may use it to climb to our target of 128. The process may take less than six months.

Daily XEC Chart

Weekly XEC Chart

As of this writing, the Cimarex Energy Company stock is trading 90.46.

Summary of Strategy

Buy: As close to 89.50 as possible.

Target: 128

Stop: 87

 

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.6 stars on average, based on 145 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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