Tempur Sealy International (TPX)
By Thu, Nov 12, 2020
Hey there,
Today’s Chart of the Week comes from our acclaimed Under the Hood watchlist.
This is a report from our UTH trade scanner that scraped millions of data points from dozens of industry sources to produce a list of stocks with significant changes in investor interest.
Each week we identify these stocks and capitalize on the increased attention through additional technical analysis on the best of the best of them.
Today, that’s Tempur Sealy International (TPX).
Aside from comfortable beds and pillows, this is a comfortable stock that I believe presents us with significant profit potential.
This may be one of the best risk vs reward setups we’ve seen in a while.
We are LONG above $88.
Below that, we’re just watching, but above $88 we’re buying in.
And when it hits $100, not only are we still long but I recommend you double or even triple your position as $100 becomes the new floor.
I think this is going to be $150.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
