ANZ trade ideas
Selling options premium for $$$ : Bull put spread
In this environment looking for slow and steady wins the race type of higher probability 'income'.
1. looking for neutral to bullish action over the next 20 trading days
2. buy signal on 'TURTLE SOUP plus one' - recovery from new 20 day low, with reversal bullish.
3. Found 0.10 net credit premium on 17.51 European put option with 17.00 American put protection * 120 = $1080
4. Only needs to go sideways > 17.51 or higher which is -7% below current price = 66% of winning based on price
The highest volume node secondary ' POC" is higher at 18.80 area as good expected average price in recent 30 days.
5. So this is a fairly high probability play, with DELTA of sold leg about 0.25 so market expects only 25% chance of expiry below this strike = 75% chance of winning ( keeping premium paid)
6. Any adverse drop in price below, has a breakeven 'alert' at 17.40 for either cutting losses at breakeven or rolling down & out to next month.
7. Goldmann Sachs has a Neutral rating with price target of $20.00 over next 12 months.
8. Dividend due to go ex-dividend in November.
ANZ entry sub 18Tested 0.618 Fib and top resistance of downward wedge.
All other major banks NAB. CBA and WBC to follow.
RSI is still relatively high.
1st entry at 18 and will average down to 17 if it falls further.
First entry at the start of an uptrend which most likely gets back tested.
RSI<40
ANZ will most likely hold 17.65 level(GFC bottom)
ANZ shares have breached a critical point at 15.55ANZ shares breached a critical point at 15.55
Share prices consolidated at 15.10 and 15.55 for about a week, and today it took off breaking through 15.74 and currently testing the 16.00 mark. The direction of the current trend to the upside is still premature; however, a break above 16.00 could lead to a further drive to the upside.
ANZ - MY POSITION UPDATEI'd previously made a post regarding my current position holding quite a large position in ANZ.
After examining the movement over the past few weeks,
- Slow prevailing downtrend
- Poor / slow overall economic recovery
- Bad news reports across financial sector
I decided to sell my entire position, closing out at around 16.5 for a circa $200 profit. Which would have now been an unrealised loss of over $1,500.
Was lucky to get out when i did, definitely predicted a swifter recovery than what we're currently experiencing, not only in Australia, but on a global scale.
Remember, if you ever feel uncomfortable in a position, GET OUT, if it's not doing what you predicted, don't let your account drawdown and hope the trade comes back.
Always follow your pre-defined rules, and analysis.
Hope you've had a good weekend of analysis traders! Wishing everyone well for the coming week.
Positional Trades buying opportunities for ANZAt it's weekly support zones. Two value zones to add positions to hold.
ANZ in Wedge Possible up if good news tomorrow ANZ in a Wedge possible UP either way .. its on a Break out soon Depending on News tomorrow
ANZ - LONG TRADES I have quite a large stake in ANZ, at an avg price of around 16.450 (looking for recovery around $24.50), I also took these two trades shown over the last few days. I'm looking to hold these until TP is hit, all my trades at the moment are strictly longer-term due to the unpredictability of the market.
Please leave a like if you're on a similar wavelength, otherwise feel free to comment any ideas that suggest the possibility of alternate price movements!
(ALL FEEDBACK IS APPRECIATED)
Have a fantastic weekend of analysis traders!
ANZ like NABANZ @ a critical level and about to break down
if buyers doing come in.. maybe RBA will start buying shares like
other central banks.
ANZ BANK close to the 200MA on the monthly again. Is it a buy? Australia and New Zealand Banking Group (ASX: ANZ) share price has fallen big in the last few months.
Value Investors, is this a buy for you?
For me, $25 is the magic number. If we can hold and bounce strongly above $25 before the monthly close. It is a good buying opportuntity in the short term. Due to "reward to risk".
If we close below $25, ANZ doesn't look good...
ANZ is looking bullishAs per the Gann emblem, the thick green line offers support and we recommend a buy off this Gann Line. Hold the position until price breaks through this line.
ANZ trading opportunitiesANZ looks ready to drop after poking at the .618 fib level. exit short or buy anz at the zone shown below.
ANZ looking to move upwards - 2.21% Potential gainEntry = $28.05
Stop Loss = $27.43
Take Profit = $28.67
Fingers crossed!
ARE THE AUSSIE FINANCIAL STOCKS ABOUT TO MAKE A STRONG MOVE? Are the Aussie financial stocks about to move higher? We have already discussed AMP and how it looks to be ready to make its move after heavy accumulation.
Is ANZ further along? We have seen recent 6 month highs in late February, and now a pull back. Could this be the last point of supply before marking up in Phase E?
Last Friday we saw a very small spread bar with very high volume, which indicates there may have been some hidden buying at this level. The second largest volume since the 21st December. The stock rallied over 20% from that day till the recent highs. We are approx 50% back from the recent leg higher, a point that Wyckoff commonly referred too.
This chart smacks of “Wyckoff” accumulation and the phases he spoke of.
Stopping action, a short term rally, testing, shaking the market out, change of character, sign of strength with a jump of the creek followed by the last point of support.
What do we want to see next?
It’s simple. Demand. A wide spread bar to the upside with an increase in volume. Strong volume.
The point and figure count shows the possibility of a move to the $30-$33 level which does coincide with old highs.
I will be watching this one closely this week
Preview the Future (not so far)The predictions are a test of a new strategy (hidden for now) in our chart.
other predictions will be made before we approve or not the strategy, so put your comments and never guess: NOTHING IS 100%.
