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There’s a Lot of Upside With Stocks Reversing Trends

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The SPX continues to hover below the 2,600 mark with tightening range.Indicators show that the index is still in extreme overbought territory. It must pull back in order to sustain its ascent. Therefore, we continue to focus on stocks with limited risks but offer significant profit potentials.

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Here are a couple of names that are either making a reversal or ending a correction phase.

AIV – Apartment Invt & Mgmt Co

The stock has been on a downtrend since 2007 when it hit its all time high of 65.79. 10 years later, AIV has reverse its trend after it quietly broke out of its 35 resistance. Currently, the name is creating a base at 45 which is a very encouraging sign. It needs to turn 45 into a strong support level to have a chance at breaching major resistance at 50.

More often than not, stocks reversing from a multi-year downtrend have huge profit potential. They are at the point where risk-reward ratio is most favorable. AIV, for example, has come out of a 10-year downtrend, and it appears that the general public has yet to purchase the stock. Now is an opportune time to get in.

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Institutional investors are probably quietly building volume at 45 which means you have time to purchase the stock. Once the name goes above 50, it will attract momentum traders as well as the public to push the stock to 62 first. Break that, and we get the all time high of 95.

Weekly AIV Chart

Monthly AIV Chart

Summary of Strategy

Buy: Build volume now and buy more once it breaches 50

Support: 45, 42, 40, and 35

Resistance: 46.5, 50, and 62 last

Targets: 65 and 95

Useless: Only when support at 35 is broken

AXP – American Express Co

The stock has been correcting since 2014 after making the all time high of 96.24. We saw it retreat to 53 and established a base at that level. AXP has been rallying since and has now broken the major resistance at 93. In the last few weeks, however, the name has retreated from 96 and is currently forming a base at 93. This is an encouraging development as the stock needs to establish strong support to have a chance at breaking its all time high of 96.24.

Build volume at 93 with the intention of buying more once the stock breaks its record high. There is no known resistance after AXP moves above 96. The name has a clear path to the target of 135.

Weekly AXP Chart

Monthly AXP Chart

 

Summary of Strategy

Buy: Build volume now and buy more once it breaches 96

Support: 93, 90, 87, and 77

Resistance: 96.24

Target: 135

Useless: Only when support at 77 is broken

 

Featured image courtesy of Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Cryptocurrencies

Trade Recommendation: Siacoin

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The trading idea is based on a breakout above the downtrend line and the previous swing high. If the market moves about it, we will get a signal confirming further upward movement. Also MACD lines and DMI give bullish signals. It’s a new trading opportunity. Pending orders for buy should be placed at 0.00000062 level with stop orders at 0.00000048 level. Profit targets are 0.00000075 and 0.00000100 resistance levels. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: SCBTC
Buy: 0.00000062
Stop: 0.00000048
Profit Targets: 0.00000075 and 0.00000100

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The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Siacoin.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Recommendations

Trade Recommendation: GBPJPY

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The market moves between 150.00 and 148.00 levels. DMI confirms range market conditions. Now the price bounces from 148.00 support level and RSI confirms price reversal in the oversold zone. MACD histogram supports upward movement. It gives us a new trading opportunity. Pending orders for buy can be placed at 148.28 level with stop orders at 147.90 level. Profit targets are 148.80 and 149.30 levels. Don’t risk more than 3% from your deposit in this trade.

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Market: GBPJPY
Buy: 148.28
Stop: 147.90
Profit Targets: 148.80 and 149.30

Disclaimer: The analyst does not have investments in GBPJPY.

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Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Altcoins

Trade Recommendation: Enjin (ENJ)

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Enjin Coin has recently finished its ICO and is currently available on a few exchanges. The primary metric to look at is the market cap of a company, especially after the initial exchange selloff. Most ICO investors are looking for a coin with a small market cap so that they can get 2x – 5x return. Enjin Coin has a very low market cap at the moment in relation to the maturity of the company. This will be a great candidate to swing trade. There are four reasons this coin is a swing trade candidate besides the fact that it has dipped to previous lows and is a great buy at the moment.

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1. Enjin currently has a contest running on Binance.com that will pay large amounts of ENJ tokens  to the top holders during the competition. This ends on November 25th. Basically, you just have to buy ENJ on Binance and hold it until the end of the contest. The top holders will be rewarded. Here is the contest info: Enjin Binance Contest

2. Enjin is releasing its Mobile Smart Wallet as well as the Minecraft plugin soon. This will allow game developers to use ENJ in the gaming community.

3. The chart shows the MACD crossing upward over the EMA 9-day signal indicating another bullish run.

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4. Enjin could be compared to GameCredits, which is currently trading on Bittrex. GameCredits has a market cap of $123,000,000; DigiByte has a market cap of $85,000,000. If Enjin only reached the market cap of DigiByte that would be a 5x ROI and if it reaches GameCredits’ market cap then investors would see an ROI of 8x. For the short term, the entry point is 0.00000265 BTC with a stop loss order placed at 0.00000242 with a profit target at 0.00000318 BTC.

Market: ENJ/BTC
Buy: 0.00000270 BTC
Stop: 
0.00000248 BTC
Profit Targets: 
0.00000324 BTC – 0.00000328 BTC

If your profit target hits 0.00000324 BTC, you will have made 20% return.

Disclaimer: The analysis is invested in ENJ.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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