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Wabtec (WAB) Short-Term Trade Recommendation Triggered

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Wabtec  (WAB): Short-Term Buy

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WAB 4-Hour Chart Analysis

On June 22, we covered the stock in an analysis with both long- and short-term trade options. Today the short-term recommendation got triggered, so we reiterate our bullish view on the stock.

Wabtec commands a higher P/E compared to its peers and the S&P 500 due to its strong historical performance and a strong management.

For the short-term momentum traders, we recommend a buy at $90 with a stop loss at $84 and a likely price target of $102.

For the longer-term traders, we advise a buy on dips closer to $83 and $78 with a stop loss of $72 and a target of $104 and higher.

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

Zcash Dip Offers Chance to Buy

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The ZEC/USD pair went into a downtrend for several days after hitting the 435 level in June. It shed more than half of its value before establishing strong support at 140. The market tried to reclaim resistance at 310 twice, but was sent back on both occasions. As a result, we have a massive reversal structure that might skyrocket the pair into a new all-time high.

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The market closed above 310 a couple of days ago on weak volume which is why it’s struggling to stay above that level. Technical indicators show that momentum is weakening, increasing the likelihood of a dip. A slight correction not only gives the market legs for its next move up, but it also offers you a chance to place orders.

They key indicator to watch for is volume. As long as volume remains sluggish, the market will most likely slide down to 280 first and then 262 next. That’s a good zone to accumulate positions. If volume suddenly spikes, at least 230k at Bitfinex, then we have a legitimate breakout that will take the market to 465.

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 Summary of Strategy

Buy: between 280 and 262 OR confirmed breakout with volume of at least 230k at Bitfinex

Support: 280, 262, and 243

Resistance: 310, 352, 400, and 412

Target: 465

Stop: If the market breaches 243

 

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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: Qtum

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The price is going to bounce from the support zone which is formed by the uptrend line from the higher time frame and 0.035000 support level. RSI confirms price reversal and MACD histogram supports upward movement. It’s a trading opportunity.

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Pending orders for buy should be placed at the 0.035300 level with stop orders at the 0.033700 level. Profit targets are 0.038000 and 0.042000 resistance levels. If you don’t use leverage, trading volume for this trade is up to 5% of your deposit.

Market: QTUMETH
Buy: 0.035300
Stop: 0.033700
Profit Targets: 0.038000 and 0.042000

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

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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: Monaco

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The price diverges with RSI and MACD. It gives us a trend reversal signal. DMI is bearish but ADX line falls and it allows us to open long trades. Pending orders for buy can be placed at 0.000680 level with stop orders at 0.000615 level. Profit targets are 0.000800 and 0.001000 levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: MCOBTC
Buy: 0.000680
Stop: 0.000615
Profit Targets: 0.000800 and 0.001000

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

Featured image courtesy of Shutterstock. 

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
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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