We wish Tim house-hunting success in North Carolina. Here’s hoping he finds what he’s looking for. NC is a beautiful state and I bet his family will enjoy time spent there. Where I live now is the forever home, but NC [and TN] used to be on my move-to list. Here are a few slippery slope charts for your perusal. See what you think; hopefully, you’ll find some trade ideas.
Note that on all charts, the dotted green and red horizontals are the top and bottom of the Ichimoku Cloud; the Cloud changes with the wind.
In no particular order, let’s look first at TUP. I think Tim has been watching and shorting this for a long time. TUP topped in 2013. Earnings are May 4. (Note from Tim: yep! I’ve got puts!)
Quarterly chart given for the big picture. The quarter has just begun, but even so, falling below the bottom channel puts this in a precarious position.
The monthly chart of TUP is straightforward. With another week to go, we see if resistance of the channel bottom holds price down, and whether Cloud support holds price up.
The daily chart sports a bearish rising wedge. Let’s see what kind of support the Cloud has to offer, because beneath it could get pretty slippery.
Next up is TRMB and its quarterly chart.
Price might be just as apt to head up and out of the channel, as break below support and head to the bottom of the channel.
Weekly chart shows that price fell into the Cloud on Thursday, and has lower support as the green 2002 uptrend. If price breaks below that, the target is 46.67. Earnings are May 4.
How about the BROS.
Dutch Bros is an operator of drive-through shops that serve hot and cold drinks, mostly in western states. It was founded in 1992. The company held their IPO in Sept of 2021.
This monthly chart has price resting on support of both the Cloud top and on the channel bottom, and has another week to finalize those test levels.
Here is BROS weekly chart. Price is beneath the channel and now testing it as resistance from the underside. If Cloud support fails, the next target lower is about 47.00; then a target around 40. Go, Jo.
By all means, input encouraged, especially if you’re trading one of these.
That’s all for now, folks.