Yes, give us a couple of down days and the headlines start screaming about "Depression era" .. "Sell in May" is possible especially after such a huge run in April. Is it just a correction or will this sell off snowball into an avalanche? I am looking at the short term support at 2790 and worst case the support at 2700 (which is the 50% fib retracement) before I...
GOOG has been trading in a rising channel. Hit channel bottom today and looks supported. Possibly long now at 1330 (with a stop @ 1310) or wait for the next candle and more confirmation of the bullish divergence that could be forming. Looking to scale out as it approaches channel top. Plus trailing stops on the way up. Disclaimer: This is just my own analysis...
LULU pulled back to 225 which is the 100% projection of the previous correction. Time to long @ 225+/- with a stop at 233 and looking to scale out at $248, $255 and $262 (100%, 121% and 168% fib extension respectively). Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade...
Inverted Head & Shoulders would confirm upon a daily close above the neckline at 1.90. When this happens, I would enter with an intial stop loss just below 1.80. Should the trade works out, I would scale out partially around 2.09 (possible horizontal resistence there) and protect with trailing stops to ride the rest to about 2.30 (Inv H&S target is at...
Long immediate at 1.72 (with stop loss just below 1.65) and short term upside to 1.89. There is a chance an inverted H&S is setting up (longer term bullish if confirmed). Will revisit when it gets there. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your...
Possible opportunity to stake into ZM as it appears to have found support around the 61% fib retracement level @ 135. With a possible bullish divergence happening as well, I will be keen to hop onto this guy with a stop several ticks below 131 and looking for to scale out at least partially around 155 (where there is a higher gap fill). Trailing stops on the way...
Suntec Reit could be forming a bullish divergence on the daily (need another day to confirm this). Will be looking to enter based on the 4hrly (bullish divergence there as well). Long as it starts going above 1.26 (with a stop just below 1.20) and looking to take short term profit around 1.40. (protect with trailing stops on the way up in case the market...
Bullish divergence between price and stochastic on the 4hrly. Long @ 1.66 with a stop just below 1.60. Looking for initial profit around 1.80. Let's see how it pans out. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
DIS is getting close to the apex of an Ascending Triangle. I will be betting on a break to the upside. Entered @ 105 with an initial stop a few ticks below 102. Looking for an initial target of 120 (close to 61% fib retracement up) and trailing the rest to see it it could reach 139 eventually (gap close there). Disclaimer: This is just my own analysis and...
Odds are good that the breakup will be on the horizontal side of the wedge (at 2.49). I am looking to accumulate within this narrow end of the wedge (between 2.35 - 2.45). With a stop just below at 2.34 and if it does break up, I will be looking to take some initial profits at 2.59 (61% fib retracement of the recent plunge) and with trailing stop to hopefully...
CapitaMall Trust tested a significant support between 1.48-1.50 yesterday and today it formed a pair of tweezer bottom reversal candlestick with bullish divergence on the RSI to boot. Going long on this guy and looking for an initial target around 1.90 (the recent high). However I will be putting an initial stop loss at 1.47 and protect any profit with a...
FCPT sold off heavily today and retested 1.75 today forming a mini double bottom. This is also the 50% fib retracement of the bigger uptrend from 2009-2020. An aggressive entry would be to enter as soon as it retested 1.75 and starts to rebound. However a more conservative entry is to wait for some "confirmation" that the low is in, which means to wait for...
I am excited to see a bullish fibonacci 2-step pattern on PFE's weekly chart! A bullish 2-step pattern will form a lower high and a lower low after a prior uptrend but despite this, it is not the begining of a bigger downtrend but instead the odds are good that the uptrend then resumes from here. The 2 step pattern (forming a lower high and then a lower low) has...
Wow, what a ride. Extremely fear followed by extreme euphoria. Bear rallies are often strong due to both bulls rushing to buy and bears rushing to cover. Could this be just a bear trap? But with the weekly candle potentially forming a bullish piercing candle and the fact that S&P has gone way above 2400 (support-turned-resistence-now-turned-support-again),...
With SPX closing below the critical 2350 support and despite that it is already down a heftly 32% in all of a few weeks, the technical signs are now in favour a more serious bear market. I will regard any near term rally as suspect unless it is able to sustain above 2400. The next support (2033-2120) is "only" another 8-10% down from it's close of 2305 but...
S&P 500 is still staying put above 2300 critical support. I know it' s crazy scary now and volatility is just so great but I am willing to start nibbling when I see this. Stop loss below today's low by a few ticks and looking to protect profits with trailing stops . Trade carefully! Disclaimer: This is just my own analysis and opinion for discussion and is not...
Citydev broke down form a bearish H&S formation just 2 weeks ago and with the extremely bearish market sentiment this week, slammed into a support area (horizontal mid term support plus a long term trendline) and closed just above the supports. Looking to long it next week just above today's close at 8.28 with a Stop a few pips below the last low at 7.88 and then...
OSK's demand zone can be seen clearly on the weekly chart. The fear in the markets this week saw it gapped down into the middle of the demand zone yesterday. It hit a low of 54.30 and started to rise (with a pin bar on the 15min). By the time I longed it was closed to the top of the zone. A small position as the SL is rather far away at 51.40 and looking to scale...