Trading Chances: HCP, UNM, STI, Wheat
Markus Gabel | May 08, 2016 04:24AM ET
HCP Inc (NYSE:HCP)
This share is a real estate investment trust and a US company. Currently, this company’s chart does not look particularly positive. We see a young downtrend with the last low at $25.11, and a correction zone between $34.71 and $36.86 on the upper side. The price has reached the red zone and our DowHow signals have occurred. If we see several reversal signals, we can consider a short trade.
Unum Group (NYSE:UNM)
Unum group is a US company operating in the insurance sector. This company’s chart also looks bad. After the last low at $23.99, the price increased deep into the red correction zone. These past few days, the price has been showing a certain weakness, so we can expect the trend to continue.
SunTrust Banks (NYSE:STI)
SunTrust Banks is one of the leading US bank holding companies, but nevertheless, the chart does not look good. Here we see a young downtrend too, in the upper range of its correction zone. It seems as if the price will close the gap at around $40, and if this is the case, the probabilities are more on the lower side, and the possibility exists that the trend will continue.
Wheat
This foodstuff is in a downtrend. Whether this is good or not is irrelevant for a trader. The last low was located at $442.18, and the price was near the last point three a couple of days ago. At the moment it seems as though the price will continue the trend, and if this is the case, our first target lies at $442.18.
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