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Offshore: Long/Short Opportunities + Updates on Virgin Galactic, Micron Tech, Peloton Interactive and Boeing Co. – UnumCapital
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Offshore: Long/Short Opportunities + Updates on Virgin Galactic, Micron Tech, Peloton Interactive and Boeing Co.

Offshore: Long/Short Opportunities + Updates on Virgin Galactic, Micron Tech, Peloton Interactive and Boeing Co.

SELL/SHORT

Ford Motor Co.

Long term price action very weak, with price breaking down in a similar fashion to 2008. Weak economic backdrop + significant debt may keep this name under serious pressure. Traders should look to short/sell the next rebound back into $6.30 using a stop-loss of $7.40 and target of $4.15.

https://www.tradingview.com/x/E9SSA561/

General Electric Co.

GE is breaking down from a 27-year top which is the $6.25 to $7.50 level. The projected target on the name is $1.55. Stop: $7.00

https://www.tradingview.com/x/DadguSGc/

BUY/LONG

EBAY

Ebay Inc is signaling the potential to make a substantial long term advance from around current levels. Having found support at the lower boundary of the long term channel, the share is aming an attempt to surpass it’s prior all-time highs which was seen in February 2018. For the last 3 years, the price has remained stagnant however is now clearing the consolidation zone. Longer term, the share has the potential to double in value as it trends towards the midpoint of the long term channel formation. Strong Weekly and Monthly RSI’s are large technical drivers. Last Close: $42.

https://www.tradingview.com/x/3hs1hi3o/

VBIV Vaccines

The share has showed up on my momentum model as a potential long idea. The share was up 38% last week but is well off it’s multi-year highs. Both the weekly and monthly RSI’s point to further strength with the weekly printing 66 and pointing up while the monthly trails at 43. Lat close: $1.89. Stop-loss: $1.45. Target: $3.80

https://www.tradingview.com/x/Up0XavCf/

Update On Virgin Galactic (SPCE) – Recommended entry was ~$18.18. Reached a high of 21.53 before pulling back.

https://www.tradingview.com/x/QfxSu9cQ/

Micron Technology – Subsequently advanced, tested just under $50 before retreating.

https://www.tradingview.com/x/NMtev9UJ/

Peloton Interactive (PTON) – Strong move. +52%

https://www.tradingview.com/x/NVGbjiIg/

Boeing Co – Short term idea: it failed to advance. Long term technical structure remains bearish.

https://www.tradingview.com/x/dZpA68hG/

Lester Davids

Trading Desk Analyst

Unum Capital (Pty) Ltd
An Authorised Financial Services Provider (FSP 564)


T: +27 (0)21 201 7270             W:  www.unum.co.za             E: lester@unum.co.za


Lester Davids

Lester joined Unum Capital in July 2016 and is a Trading Desk Analyst focusing on local (JSE) and global multi-asset class technical strategy and research which includes idea generation.

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