CVCO Bullish MomentumThe Bullish Momentum creates a new high and from previous action could experience resistance around 396 area. Technicals are only confirmations of fundamental currency which forms market structure analysis.
CVCO trade ideas
CVCO - Up Channel Up Channel in white
I expect price to rise sharper and form the green channel
Good bet while price is at the lower side of this long term white channel
I have shown thoughts with bars pattern in green.
Head and ShouldersPrice is below the neckline.
Possible stop just above neckline in case of a retest or over a level of resistance.
No recommendation.
Cup and HandleI found this one a bit hard to believe but just reading the pattern and it is not to break out yet Earnings are tomorrow AMC 7-30
I was looking at homebuilders and had not heard of this one. Most of the homebuilders are in a C&H pattern and many have already surpassed prior high or on the verge of it
I see now..this one also sells RVs! All time high is 261.8
Cavco Industries, Inc. designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle, and Destiny brands. It also builds park model RVs; vacation cabins; and systems-built commercial structures, including apartment buildings, condominiums, hotels, workforce housing, schools, and housing for the United States military troops. In addition, the company produces various modular homes, such as single and multi-module ranch, split-level, and Cape Cod style homes, as well as two and three story homes and multi-family units primarily under the Nationwide Homes brand. Further, it provides conforming mortgages, non-conforming mortgages, and home-only loans to purchasers of various brands of factory-built homes sold by company-owned retail sales centers, as well as various independent distributors, builders, communities, and developers. Additionally, the company offers property and casualty insurance to owners of manufactured homes. As of March 28, 2020, it operated 39 retail centers in Oregon, Arizona, New Mexico, Texas, Oklahoma, and Florida, Texas. The company also distributes its homes through a network of independent distribution points in 42 states and Canada; and through planned community operators and residential developers. Cavco Industries, Inc. was founded in 1965 and is headquartered in Phoenix, Arizona.
Breakout after consolidationDISCLAIMER. This post is for educational purposes only and should not be construed as investment advice. Your use of the stock observations is entirely at your own risk and it is your sole responsibility
CVCO Gap FillCVCO has a gap above and a gap below that need to be filled. I'm guessing earnings are gonna be pretty good, all these illegals need trailers home to live in....
Earnings are a crap shoot as always, small play here.
CAVCO 1D ASCENDING TRIANGLE BULLISH PATTERNAscending Triangles, Triangle, Descending Triangles and Ranges are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending volume bars and descending atr line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size.
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
