9888 (BIDU) broke out and successfully retested on confluence of 0.786 fib and trendline support.
This was after the rejection off the 200 day moving average, which is a healthy pullback for a solid entry.
Hang Seng Index (HSI) also bounced off VWAP support today after catching a short break from a massive (and expected) run up.
Technicals aside, the fact that...
Since September, MSOS has been consolidating off the pop from news of possible rescheduling of marijuana.
With a triple bottom bounce of $6.90, it seems that this breakout is going to be likely soon.
If it does breakout successfully, we could see a movement of ~100% to about $14 levels assuming the move is the same as the length of the flag pole (bull flag)....
NASDAQ:TSLA has seen an incredible rally for the past month. The question is: Will it hold? Bullish and Bearish analysis below:
Bullish
We see a nice descending broadening wedge while momentum looks to be strong as we approach the upper resistance trendline to signal a potential break to the upside.
Bearish
RSI is currently at overbought levels. The...
FX:GBPUSD is showing a beautiful cup and handle pattern, which is great for longs.
Conservative entry would be at the breakout of the handle. Be careful on position sizing as MACD doesn't seem to be in the favor of bulls.
Take Profit level to be slightly before major resistance levels at $161.373 as it was at this level that price formed a double top...
NASDAQ:ROKU saw an incredible run up of about 10% yesterday, where majority of the market were still left bleeding.
Do note that this is a risky play at the moment, as NASDAQ:ROKU is at a strong support if you look at the weekly timeframe. Nonetheless, the risk to reward seems attractive at this level. This is because we saw a massive run up from the previous...
While NYSE:AMC broke out of 200EMA resistance earlier this month, things do not look good for longs currently.
We see a nasty double top on a strong resistance level, followed by a close below the recent upwards swing. We see both buyers and sellers trying their best to steer price levels to go either way, as seen from multiple dojis on a CRUCIAL support level....
FX:GBPUSD In our earlier post, we identified a short setup when price broke below ascending trendline AND retested resistance with confirmation. As it turned out, it was a false breakout and I got stopped out of my trade as well.
This is why a consistent strategy and risk management is so important; As attractive as a setup may be, it simply reduces the element...
NASDAQ:UPST is at a crucial moment right now. Since the earnings gap up and run a few days ago, it was brutally shorted to current support levels. We saw this confirmation via a small bounce on Friday.
Frankly speaking, it could go either way at this point. With the Russia-Ukraine situation, it would be advisable to enter at a stronger area of value...
My, Bitcoin sure took a huge tumble following regulation news. Looking at the bigger picture, we are definitely looking for short opportunities. More below:
Firstly, we see price action somewhat following fib levels, especially at the 1.618 level. This means that price is likely to face rejection at the current closest fib level of 2.618. Which we saw, faced a...
NYSE:VLTA has been on a major downtrend since it's recent high in November. Personally, I love Volta as a company and think it's doing great in terms of their product, and also the partnerships/deals they've been getting. But this post is less about fundamentals and more about price action, and what we can expect in the short term from a trading...
We see GBPUSD breaking out downwards of a strong upwards trend over the past week.
The last time it broke downwards was on the 15th. While there was a confirmation of the breakout, it wasn't an A+ confirmation because it didn't come back to re-test the support-turned-resistance of the ascending trendline. As we saw, within 1 candle, the price broke through...
NASDAQ:DDOG broke out of support level of past 1 month ascending trendline.
Confirmation candle present, conservative shorts can look to enter when price approaches support-turned-resistance levels.
Stop loss will be once price breaks out of resistance trendline with confirmation
TP 1: $161
TP 2: $156
Advisable to be short biased during this period as well,...
AMEX:SPY has broken out of the ascending trendline that has held it for the past 2 years.
We saw a bounce on the nearest support level of $424, but it doesn't look good for bulls. Without much strength and with the Fed meeting out of the way, there doesn't seem to be much catalysts to drive the price back to bull market levels.
While RSI is at oversold levels,...
NASDAQ:AAPL Just broke out of the ascending trendline since Nov.
Short opportunity ahead, a good entry will be when price retests ascending trendline and we get a rejection with confirmation.
Stop Loss level will be above previous ATH resistance levels
Take Profit levels gives a good 1:2 RR Ratio.
Normally I would avoid shorting stocks with a strong...
NYSE:NIO Daily Chart
NIO has just bounced off recent descending channel support, with price leaving oversold territory.
Engulfing bullish confirmation candle is a welcome sign to signal a reversal to resistance levels of descending channel, which looks to be around the $35 level.
Overall longs be wary as market is incredibly volatile and while RSI is showing...
NASDAQ:TIGR Breakout imminent along with a double bottom bullish pattern on a strong support level.
Current candle has broken out of downtrend but the next candle that follows is key to get confirmation of this breakout.
Longs can choose to enter once next candle respects the new resistance-turned-support.
Conservative longs can choose to enter once price...
NASDAQ:DDOG just broke out of a 2month long uptrend with confirmation. Short opportunity here with the following pros & cons
Pro
Just broke out of uptrend with confirmation
Multiple top pattern spotted at 169.99 level. Strong wall
Con
Stock has a bullish bias overall when looking at it from a larger timeframe
Key levels
SL
182.34
TP 1
161.05
TP 2
158.02
