TD.PF.A trade ideas
TD Possible Weekly EMA BounceTSX:TD Nearing the 200EMA on the weekly chart. Acted as a nice bounce spot every encounter in the last decade. Considering market environment I will be playing this very safe and waiting for some kind of confirmation before entering a long position. Any kind of daily closes under that range will be enough for me to pass on this trade.
Entry - $65.24
StopLoss - $63.95
Target - $68.95
TSX:TD Potential downside break Looking at a daily close under $69.20 for a short opportunity. Price is testing a horizontal that acted as strong support twice recently. Coupled with a 100/200EMA cross and current market situation will lead to a break in my opinion.
Entry: Would like to see a strong break of support and take the first retest to the $69 area.
Stop-Loss: $70.10
Take-Profit: $67.66
Canadian BanksThis trade is based off of a relative valuation using P/B (50% weight), P/E, P/S, EV/EBITDA (all 16.67% weight) and here are my findings, all prices in CAD:
Overvalued:
RY with a target of $94.30 (-4.00%)
TD with a target of $70.95 (-3.10%)
RY and TD also have the largest amount of Home Equity Lines of Credit on their balance sheets and these will perform poorly in the next 8-24 months as interest rates in Canada increase and regional housing bubbles are popping. This could pose a serious threat to the two banks and into the latter half of 2018 and 2019. Consumers only need to pay interest on the loans, when the house values go down and the equity in the home decreases in value, they are still stuck with whatever is left on the HELOC but are more likely to refinance in bad conditions at higher interest rates.
(www.theglobeandmail.com)
Undervalued:
BNS with a target of $109.50 (+40.85%)
BMO with a target of $96.60 (+20.75%)
CM with a target of $118.90 (+6.06%)
Cheers, hope you find this useful.
If TD Bank holds 69.50 it may trend higherTD Bank has found support around 69-70. If breaks above 70.75 it could push back up to 76. If it breaks this current support, it may head back to 64.
Bullish setup for TDShares of TD appear to be pulling back to test a breakout level at ~$53.50, which coincides with a rising channel bottom. I'm a buyer at that level and will be targeting ~$66 on the upside, or +23% from here. In a rising rate environment and given the technical setup, I expect shares to outperform over the next several months.
TD Retesting Resistance?Ended the day off with a huge hammer signalling a move up, MACD is also making moves for a crossover, TD could possibly be making a move up to test the strong resistance @ $75.
Be careful though, TD is currently in a bearish state, the resistance has already been tested a total of three times, forming a triple top. However, I think a scalp here is certainly possible.
Will TD break the resistance this time around and blast through to new highs? Or will it continue its bear trend?
Let me know what you guys think!
TD high probability shortShort TD
- lots of upper wicks on daily is smart money selling into strength
- bollinger bands tightening means move is coming soon
- retest of red breakout line before moving up higher (see attached chart)
Just a note - the better trade would be to try to grab some shorts once price hits the lower line of the blue channel.
TD Breaking Out Of Cup and Handle, 14% upside targetBeen watching this cup and handle develop and it's not breaking out. Long above $54.50, target of $62.
Canadian banks 'stocks would be strong nest week.Because of possible rate increasing, the interest earning improve the bank's profit.
My target price of td in next few trading day would be 54.
TD trend changeFirst bearish wave of TD is done as of Friday, May 12. Now it will retrace to around 50-52. Afterwards it will drop again to around 40 dollars.
Stock to consider: TDfundamentals:
seekingalpha.com
If tomorrow's close is >49.50 then we have a bullish engulfing weekly candle.
Could use recent low of 47.95 as a stop.
TDwww.bloomberg.com
TD Bank is same as AMTD. Td bought SCOTTRADE BANK but it will not help them to sustain as the stock already started to fall from 2014 April. The red line will act as a resistance. And the green line as support.
