S5_Trading_Desk

S5_Trading_Desk

Narrowing formation coming to an end. As SPAC, before merger i don`t think it can go down below 10$ as SPAC how SPAC works. and I don`t assume it will go down. We have tested the thick blue line enough times and bearish move has its toll. Good preliminary earnings have been announced and 2021 guidance has been increased. I know SEC does an extremely slow job...

S5_Trading_Desk

on ARKW - MA 50 daily is a main support and resistance, worked like a charm especially last 3 attempts to break it failed. We see a convergence of MA 21 and MA 50 so I expect a bit up and down between these to MAs and then break down where they intersect, find support from the blue line and then push up to break both MA21 and MA50. I like that the volume has...

S5_Trading_Desk

Previously, I stated that we see a reverse head & shoulders despite people calling it is normal head & shoulders and I was proven right as after last shoulder we followed the black line I have drawn. Now once again, we arrived at the critical point, the bearish resistance upper channel (blue line). We have tested this part before and couldn`t break it. Once again...

S5_Trading_Desk Updated 

Initially from the fist part, I thought it was a double bottom W formation and it worked till 16$ but couldn`t break the blue line that`s the resistance and went down again. The good thing is it found the same resistance yesterday at 13.55 which is the bottom on the first wave. Hence I firmly believe, as you can see from the black line I draw, we see a reverse...

S5_Trading_Desk Updated 

the topline coming down worked as a resistance several times. What we lack in this bearish move is where the real support is. BNGO since the beginning of the year moved drastically up. Even now x6 YTD. So hard to guess where we will see a support. Hence, I would like to see support line working 2 more times and we break the resistance line before jumping on the boat.

S5_Trading_Desk Updated 

Both double bottom has formed after a downtrend and also we are coming to end of the triangle. best time to enter

S5_Trading_Desk Updated 

It is time to break through and jump from the support line. The upward trend will need a push with positive earnings to reach higher levels.

S5_Trading_Desk Updated 

The road is getting tighter and tighter and we all know last 12 months run was rather steep. The 1st black line should hold but will not be surprised if we break that down

S5_Trading_Desk Updated 

The support line so far hold (black line) even though the steep decline smashed in between price points. MACD shows it is about switch, RSI has an upside hook showing trend change. Now I believe MA200 initially will resist, but 2nd time push onwards will break it upwards. just an idea, not investment advice

S5_Trading_Desk Updated 

4 month bearish move coming to an end with a classic textbooks style W, double dip formation.