danbeaulieu

danbeaulieu Updated 

Please take a second to look at the big picture analysis here. resistance levels We're kinda dead center of a volume cluster that ranges from 133.93-139.22, which constrains our range. If we see upside momentum, our first resistance (minor) is 142.50 which, if we have any real momentum, should be taken out. The 139.43 level resistance is a bit stronger, it...

danbeaulieu Updated 

Don't forget to review the daily chart for the big picture. I am long biased on the overall daily chart. Take a moment to review our previous set of scalping levels, see how they came into play on Friday and how we're respecting those levels today resistance levels We called the resistance area that was ultimately respected on Friday as well. Today, I'm...

danbeaulieu

ROKU is currently chopping in a symmetrical triangle formation. Not fond of swinging stuff like this because the market is currently in a phase of uncertainty. For those interested in a swing I like an entry near support at $126.71, current resistance is $139.43. We have a potential H&S on the daily, lower volume on the right shoulder. Though based on the 2 left...

danbeaulieu Updated 

Please review my overall daily chart analysis here Thoughts for today Wait and see. Market has reacted to news, we'll have to wait until the session starts to see if today is a selling day or a buy the dip day. With our current level of market euphoria, I suspect we'll see some recovery. If we pullback at open I'm watching 1860.00, 1853.66, 1846.00 and...

danbeaulieu Updated 

I reviewed this chart the other day, I liked the volume and the trend line confirmation (3 touches). But with the v-rally selling off by about 50% I have my guard up. We're seeing continuously high volume here, higher than the previous visits to the trend-line. I'm not quite bearish here. But I wouldn't advise a swing entry until we revisit the trend line and...

danbeaulieu Updated 

In my last DIS post I was cautious about the supply level and somewhat skeptical that we'd continue to push new highs. I was correct about chopping sideways, albeit briefly, before choosing a direction. I've highlighted a nice bullish consolidation pattern from which we broke. Considering the low "holiday volume" last week, I'd like to see price hold above our...

danbeaulieu Updated 

Let's start by looking at the weekly chart on the right. I drew a red line that I believe marks a 3 year supply line for TSLA. That is, we cannot close above that level on the weekly. I also drew four boxes where TSLA chopped around just below this supply level in the past. So, Elon had his ER pump that shot price to the moon. Then he released his Cybertruck and...

danbeaulieu

Chart is channeling, volume is not strong enough to bring TNDM out of this channel in my opinion. Watch for weakness in this area. PT ~64

danbeaulieu

Looking at the weekly chart first. Notice the lower volume during this rally, the previous parabolic rally was met with heavy selling. Where are the sellers now? To be fair, I am seeing a lot of lower volume moves like this throughout the market. On the daily chart we are definitely over-extended. Though the lower indicators are indicating continuation. OBV is my...

danbeaulieu

Chart is fairly self explanatory. We have a high volume bounce on a multi-year trend-line (est. 2016). Last week we printed an inside week which indicates an indecisive market. I think we hold the bottom-trend, but if you enter without a plan, you could experience some drawback if we revisit the bottom-trend. Be patient.

danbeaulieu

On the left we have the daily chart, and on the right we have the monthly chart. Yes, the month isn't fully formed yet. But the monthly chart illustrates a top trend that casts a shadow of doubt over the daily chart that I wanted to point out. Look how this earnings breakout was smacked back down below the blue top-trend. Also, note how volume and RSI during...

danbeaulieu Updated 

At first glance this chart is a bit of a mess. There are many intermingling trend-lines, but my eyes are drawn to a falling wedge which I have colored with blue to help it stand out. After some analysis, Friday's (11/8) candle has bounced in a very interesting place. Prior resistance (red line & arrows), a newly confirmed up-trend (light-gray), our blue down trend...

danbeaulieu

This one will be short and sweet. Bullish if we stay above the white trend-line. On balance volume is the indicator I look to to gauge trend strength, it looks pretty strong at this level. I will note the double top, but I don't think its a brick wall. I will also note the slight RSI divergence, which is typically a hint to bulls that the ride is nearing its end....

danbeaulieu

ATVI still chopping around in this cup and handle that may or may not ever play out. Double top, most evident on the weekly/daily charts. Look at the RSI on the right side (Daily) chart and check it against price. It put in a lower high on a double top. This is a red-flag for me, my line in the sand is the magenta line. If we break below that, I can only assume...

danbeaulieu

Prior to ER bulls were gaining a footing with a higher low on the daily chart. ER slammed price into the supply zone which promptly smacked price down (The supply zone is outlined in white). Its hard to determine what the likely price direction is after a catalyst so I'll provide some thoughts for both the bulls and bears. Bears, I'd wait for multiple closes...

danbeaulieu Updated 

Very apparent head and shoulders pattern but with unusually high volume for the right shoulder. Typically H&S have less volume on the right shoulder which demonstrates a lack of bullish enthusiasm. This makes me somewhat skeptical of a strong neck-line break and flush to the downside. One could make an case that what we have here is the fabled double head &...

danbeaulieu

Currently pulling back after testing top-trend / supply level. I'm watching $21.40 area to hold as support for another attempt at a break. The strong volume and indicator confirmation has me bullish, provided we stay above that. $21.40 area.

danbeaulieu

Ugly daily candle, but we closed above the 61.8% retrace, I have my eye on the magenta trend-line for a long entry but the high volume and great attempt by the bulls today make me thinking we'll chop sideways into the trend. Decent volume at price at the magenta trend / support / fib confluence makes me optimistic of a bounce. Feel free to add question and...