Gold is down +6% for ytd and could outperform in the short term as riskier assets get sold off and rotate into gold. Additionally betting on a weak dollar to prop up gold again. Adjusting gold by multiplying it by the USD index gives a better linear trend with more support points .
Gold has been selling off as the long term US Treasury rates have started to rally in recent weeks (TNX TYX). In addition the 'death cross' doesn't help encourage bulls. But I see a double bottom along with some divergence that I think provides an opportunity for a decent risk/reward to swing back up $1,800/oz. The ABCD pattern shows a similar length from the AB...
Using an absurd 75% - 20 day envelope on the chart which I think does the job of identifying extreme stretches for this stock. The recent pull back is reminiscent of a blow off the top formation. Don't see why RIOT couldn't halve back to the $30s in the coming weeks even with bitcoin above $50K. Should finish today with a bearish engulfing.
Morgan Stanley initiated coverage of QuantumScape with an overweight rating and a price target of $70 on Feb 11. After the December bull run, QS has drifted lower as concerns loom on it's lofty valuation... looks like the tides are changing and QS is ready for it's next run.
Fundamental: fall in U.S. weekly jobless claims, dollar strength, rising interest rates, bitcoin alternative to gold. Technical: strong sell below 200 day and lack of support/trend levels.
This stock isn't "worth" $50 on a good day. Buyers will move on to the next big 'meme' investment and get bored with GME after it stalls out and fails to moon shoot again. The only demand level will be on technical dead cat bounces as there is no fundamental value support at these nose bleed levels. ps: If you made money on the way up, good job.
BABA is under 2020 log trend and is consolidating as downward pressure starts to wane. Looking for bulls to step-in and push BABA out of consolidation as MACD continues to swing back up.
Short time frame trade to come out of this technology selloff that's dragging the rest of the market down.
Tech (Apple in particular) has been seen as a safe haven from the lockdown recession; stretched price per share in AAPL is making historical fundamentals hard to justify even with everything the Fed is doing (PS and PE Ratios Charted). Technically overstretched as well and wouldn't be afraid to start to shorting here.
Small Caps which are more cyclical in nature are coming out of a squeeze pattern and looking very bullish.
Both TNX and TYX are still near all time lows as long-term treasury bonds continue to be in high demand from lockdown recession monetary stimulus. A moderate sell off in treasuries may cause a rapid unwinding from overcrowded positions and set up a downside reversion to the mean over the next month or two. The current price action is well above the 20 day moving...
Catching the Nasdaq very stretch outside the upper bollinger band. High probability trade we sell off the following day (7/7).
Very simple TA setup with a 4 hour chart on XLE breaking out of a downward wedge pattern. MACD divergence + crossover of signal along with Psar trigger.
Second wave coronavirus headline risk is creating a spike in market insurance premium. Sell the premium and short VXX via call credit spreads or put debit spreads.
High Valuation ROKU is breaking down from support below the 50 and now 100 day moving average. Target = 200 day moving average.
1-hour candle chart using the 20-period moving average as a breakdown/breakout trigger. The longer that the price action stays under the moving average the higher the probability of a continuation breakout pattern. CRISPR Therapeutics AG, a gene editing company, focuses on developing transformative gene-based medicines for serious diseases (like sickle cell disease).
- Winning parabolic sar strategy for buy/sell signals since August. - Slow Stochastic breaking above 50. - Keep it simple, Buy the dips. - Phase one China/US trade developments provide bullish demand on EEM.
Let's see if Oil can stretch above the 200 day moving average. Weaker dollar and phase one trade deal progress are driving this higher.