Pro Trader Highlights Her Top Reopening Stocks With Bullish Technical Setups

Pro Trader Highlights Her Top Reopening Stocks With Bullish Technical Setups

At the Benzinga Reopening Stocks Summit on Wednesday, Bellrock Pro owner Silvia Bellrock discussed how investors can use technical analysis to select the best economic reopening stocks in today’s market.

Many exciting opportunities exist among reopening stocks, but traders need to identify attractive entry and exit points to maximize their potential profits, she said.

Bellrock’s Trading Process: Bellrock said her trading process starts by determining where the market is in its cycle.

Related Link: Expert Panel Talks China, Inflation And The Importance Of A Stock Selection Process

“We have the accumulation cycle, the uptrending cycle, which is one of the easiest cycles to make money. In the last year, almost anyone who was buying something, everything was going up,” she said.

Next, Bellrock identifies the strongest sectors in the market and looks for growth stocks in those sectors that are in an uptrend.

“From there I start using technical analysis to identify support and resistance, entries and exits, and with that I’m using good risk management,” she said.

What To Look For: Bellrock said her best trades start by identifying a stock that has a lot of momentum in a strong uptrend or downtrend and then determining support and resistance levels.

“If you are looking to buy something, we always look to buy around support areas and sell around resistance. We are not trying to buy breakouts here because breakouts, yes they can work, but they also have a lot of difficulties when it comes to follow-through,” she said.

“Most of the breakouts fail. If you are trying to chase higher prices, what you will see is a lot of failed breakouts and of course a lot of frustration with that.”

When it comes to candlestick patterns, Bellrock said two of her favorite patterns are dojis and bullish engulfing patterns.

“What you want to see is that kind of bullish pattern around support areas with some room to the upside,” she said.

Bellrock’s Reopening Trades: Bellrock also highlighted a couple of specific reopening stocks that have bullish technical setups at the moment, starting with One Liberty Properties, Inc. (NYSE: OLP).

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“We see here a nice uptrend. We have higher highs, higher lows, small pullbacks and bullish moves to the upside, so this is a nice looking stock,” she said.

Bellrock identified the $28.39 level as a support area and a potential entry point for One Liberty traders and said $31 is the potential “bare minimum” for an exit point in such a strong stock.

Her next example of a reopening stock with a bullish technical setup: Pennsylvania Real Estate Invt Trust (NYSE: PEI). Over the last three years, Bellrock said Pennsylvania Real Estate has had several large up moves followed by smaller corrections, and it appears to be setting up for its next up move at some point in the near future.

“You can enter, for example, at $2.10. A stop can be placed at $1.89, our consolidation base, the previous low,” she said.

“The target in this case is going to be $3.48.”

Bellrock also discussed bullish technical setups in reopening stocks Getty Realty Corp. (NYSE: GTY), Safehold Inc (NYSE: SAFE), Papa John’s Int’l, Inc. (NASDAQ: PZZA), Starbucks Corporation (NASDAQ: SBUX) and Restaurant Brands International Inc (NYSE: QSR.

Watch the rest of Bellrock’s analysis and trading ideas presented at the Benzinga Reopening Stocks Summit at this link.

Latest Ratings for OLP

Aug 2021 Aegis Capital Maintains Buy Jun 2021 Aegis Capital Initiates Coverage On Buy Apr 2020 B. Riley Securities Maintains Neutral

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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Muncul Bearish Engulfing, Hati-hati IHSG Balik Arah di Sesi 2

Jakarta, CNBC Indonesia -Indeks Harga Saham Gabungan (IHSG) konsisten di zona hijau pada perdagangan sesi pertama Kamis (29/7/2021), mengikuti tren di bursa kawasan Asia. Tingginya kasus Covid-19 membatasi ruang gerak untuk reli.

Menurut data PT Bursa Efek Indonesia, IHSG berakhir di level 6.104,651 atau naik 16,1 poin (+0,26%) tanpa sekalipun mencicipi zona merah. Dibuka naik 0,37% ke 6.106,612, indeks acuan utama bursa ini hanya menyentuh level terendah hariannya pada 6.096,503.

Selepas itu IHSG konsisten di teritori positif dan bahkan menyentuh level tertinggi hariannya yang dicetak beberapa menit jelang pukul 11:00 WIB pada 6.125,127. Sebanyak 237 saham menguat, 236 lain melemah, dan 161 sisanya flat.

Nilai transaksi bursa meningkat, ke kisaran Rp 7 triliun yang melibatkan 13 miliaran saham dalam transaksi sebanyak 935.000-an kali. Mayoritas investor asing hari ini memilih mengambil posisi beli, sehingga mencetak pembelian bersih (net buy) Rp 49,2 miliar.

Reli IHSG terjadi mengikuti tren bursa utama Asia yang berada di jalur hijau setelah bank sentral Amerika Serikat (AS) mempertahankan suku bunga acuan meski tak memberi kepastian seputar pengurangan pembelian aset di pasar sekunder, atautapering off.

Hang Seng Hongkong dan indeks Shenzen China memimpin dengan reli sebesar 2,7% dan 2,4%. Kedua bursa tersebut membal (rebound) setelah dua hari beruntun diterpa koreksi karena keputusan pemerintah China untuk memperketat aturan perusahaan digital dan pendidikan.

Namun, negara-negara yang masih menghadapi risiko kenaikan kasus Covid-19 hari ini cenderung membukukan kenaikan tipis, seperti Malaysia yang naik hanya 0,1%, demikian juga Indonesia.

Indeks Kospi Korea Selatan pagi ini hanya menguat 0,01%, karena negara tersebut mencetak rekor tertinggi kasus harian kemarin, sebanyak 1.896 penderita. Angka itu jauh meninggalkan posisi awal Juli yang hanya 700-an.

Analisis Teknikal

Foto: Putra

Teknikal Foto: PutraTeknikal

Pergerakan IHSG dengan menggunakan periode per jam (hourly) dari indikator Boillinger Band (BB) melalui metode area batas atas (resistance) dan batas bawah (support). Saat ini, IHSG berada di area batas bawah dengan BB yang kembali melebar maka pergerakan IHSG selanjutnya cenderung terdepresiasi.

Untuk mengubah bias menjadi bullish atau penguatan, perlu melewati level resistance yang berada di area 6.120. Sementara untuk melanjutkan tren bearish atau penurunan perlu melewati level support yang berada di area 6.088.

Indikator Relative Strength Index (RSI) sebagai indikator momentum yang membandingkan antara besaran kenaikan dan penurunan harga terkini dalam suatu periode waktu dan berfungsi untuk mendeteksi kondisi jenuh beli (overbought) di atas level 70-80 dan jenuh jual (oversold) di bawah level 30-20.

Saat ini RSI berada di area 53 yang belum menunjukkan adanya indikator jenuh jual akan RSI terkonsolidasi turun yang menunjukkan indeks berpotensi lanjut melemah.

Selain itu muncul pola candlestick bearish engulfing yang ditunjukkan oleh candle merah yang memiliki badan lebih besar dibandingkan dengan candle hijau yang muncul sebelumnya yang memberikan sinyal-sinyal pembalikan arah sehingga IHSG berpotensi turun di sesi 2.

Secara keseluruhan, melalui pendekatan teknikal dengan indikator BB di batas bawah dan kembali melebar, maka pergerakan selanjutnya cenderung terkoreksi. Hal ini juga terkonfirmasi dengan indikator RSI yang terkonsolidasi turun dan munculnya candle bearish engulfing.

Indeks perlu melewati (break) salah satu level resistance atau support, untuk melihat arah pergerakan selanjutnya.

TIM RISET CNBC INDONESIA

Why FuelCell And Plug Power Look Charged Up For A Drive North

FuelCell Energy Inc (NASDAQ: FCEL) and Plug Power Inc (NASDAQ: PLUG) have been pummeled since reaching all-time highs of $29.44 and $74.49, respectively. The Senate passage of the infrastructure bill, which creates an $8-billion opportunity for the clean hydrogen industry, gave both stocks a small boost before they were knocked back down to the lows.

The green hydrogen sector has largely failed to garner investor interest since the first quarter despite a progressing global agreement to move toward clean energy. That could be set to change, however, and both FuelCell and Plug are at key support levels waiting to rebound.

See Also: If You Had ,000 Right Now, Would You Put It On Tesla, Nio, Workhorse, Plug Power Or FuelCell?

The FuelCell Chart: FuelCell is trading down over 80% from its Feb. 10 all-time high. On Aug. 9, following the Senate passage of the bill, the stock reached a high of $8.31 but slammed into resistance at the level and immediately sold off.

On Tuesday FuelCell created a new low at the $5.77 level but found support there from previous price history in November 2020 and bounced. The bounce allowed FuelCell to print a doji candlestick pattern which, at the bottom of a downtrend, indicates a reversal to the upside is in the cards. Wednesday’s candle will be needed to confirm the pattern.

FuelCell may have also created a bullish double bottom pattern paired with the Aug. 5 low of $5.88. When a stock hits an area of support or resistance more than once and rejects the level, it can indicate a reversal in price action.

FuelCell is trading below the eight-day and 21-day exponential moving averages (EMAs) with the eight-day EMA trending below the 21-day, both of which are bearish indicators. The stock is also trending below the 200-day simple moving average (SMA) indicating overall sentiment in FuelCell is bearish.

Both bulls and bears will need volume to come into the stock to push FuelCell up into a bullish trend change or drop it down below the key support level. FuelCell has resistance above at $8.31 and $10.58 and support below at $5.77 and $3.36.

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The Plug Chart: Similar to FuelCell, Plug is down almost 70% from its Jan. 26 all-time high. The stock has also repeatedly hit a support level at the $24.40 level and bounced. For Plug, this has caused the stock to create a bullish quadruple bottom pattern after hitting the level on July 19 and Aug. 13, 16 and 17.

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On Tuesday Plug bounced from the level and printed a bullish engulfing candlestick pattern. The bullish engulfing pattern indicates high prices may come immediately and when Plug printed the same pattern back on April 21, the stock rose over 10% in the six trading days that followed.

Plug has a gap above between the $40.53 and $41.85 level and because gaps are filled 90% of the time it is likely the stock will trade back up into that range in the future.

Plug is slightly below the eight-day and 21-day EMAs with the eight-day trending below the 21-day. The stock is also trading below the 200-day SMA.

Like with FuelCell, Volume needs to increase on Plug to give bulls or bears confidence the stock is ready to make a move. Plug has resistance above at $28.80 and $34.48 and support below at $18.47 and $14.20.

See also: How to Buy FuelCell Energy (FCEL) Stock

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