Bullish Push to $12.23 with Sharpie Precision

2 oct

Newell Brands (NWL) is gaining bullish momentum, with a key gap forming at the $7.00 level. A break through the $9.03 resistance level could propel the stock toward the $12.23 weekly resistance. With a favorable 3.16 risk-to-reward ratio, this trade presents an attractive opportunity for those looking to capture potential upside, while maintaining a stop-loss at $5.39.

In addition to the strong technical setup, the potential for the Federal Reserve to cut interest rates by 0.5% could further drive growth. Lower interest rates typically reduce borrowing costs for businesses, freeing up capital for expansion and operational improvements. As Newell Brands continues to focus on improving efficiency and streamlining its product portfolio, this macroeconomic tailwind could support further upside for the stock.

NWL
https://www.tradingview.com/x/Fjx98bm5/

hace 3 días

Operación activa

Today’s strong earnings pop aligns perfectly with our trade idea, confirming the bullish momentum we anticipated. This move provides an excellent opportunity to take partial profits if you prefer to lock in some gains. However, for those looking to ride the momentum further, the stock still shows potential to reach our next resistance levels. As the trade progresses, maintain a close eye on price action around key levels to decide if further adjustments are necessary.

With fundamentals aligning with the technical setup, this remains a solid play moving forward.