In this year we have risen by almost 150 %. Since May alone we've gained over 40 %. In my taste this is to fast and needs a correction in the next time. One friend had claimed recently that the marked will not follow my taste. He is right. But the market will not follow the chart as well. That's why we work with stop loss orders. Taste or feeling is a matter of...
We have closed the window opened at May 6th on Thursday and are trying to reach the high of this day again. I had expected a decline since the beginning of May but failed and had to take the loss. That's why I have changed my mind and turned my view to the February window now. Seemingly this has to be closed before another rise will be possible.
For 1 1/2 year we are now rising but missing a necessary major correction. After this weeks long candle the begin of such a correction may be assumed. Often such candles indicate an exhaustion as they are driven by weak hands.
We've reached a new high at the end of the past week. This week the market seems to be waiting, taking breath. This may mean that at the moment there is no immediate buying interest. An upcoming profit taking may lead to a sharp drop. After such a sharp rise it is not unusual that some profit taking of short term oriented market participants will take place.
We are failing to correct the rise since mid April. This pattern may become a cup and handle like one with a good upward potential when we can exceed the March top.
The retracement of the corrective risegives the chance of a renewed attempt to overcome the breaking summer high of 2021. And even if we may not succeed there is a good chance for a profit. But if we succeed the chance of a further rise will be exorbitant. Then the chart will have the V-formation confirmed which consists in the deep fall of the 4th quarter of 2021...
We have reached the bottom of the Channel now. At the same time this is the 38% retracement of the rise from October until December 2023. This zone has already been the support zone from January till February this year.
Meta is strong - to strong. It has been rising for 2 years without a major correction. There was a correction of this year's rise at least and now we are trying to retest this year's high again. I expect this test to fail despite there is still some momentum. The correction is required to get the market clean of the "weak hands" which hamper the finding of a fair...
We seem to stop here and Tesla may be ripe for an upward retracement.
The support we have reached now is a multiple one: 1. The April close and low, 2. The 38% retracement of the large rise from October 2022 till March 2024, 3. The December 2023 trading range. There is still downward momentum but the chances of a good gain are sufficient to take a position. If the decline will continue however an increase of the position at better...
The trend is up and seems unbroken strong. But I notice the falling highs since the top in December. The December high could not be reached again and a another downward correction is likely even if the correction will result in a sideward range for a longer time.
We've fallen below the 1 week old trading range and may face further drops now. The status is overbought.
Today we opened with a wide open window. The spike following is large and in view of the overall dwindling market sentiment I fear that this has exhausted the steam in the pipe for a while. That's why I prefer at least the attempt to close the window before the market will comeback to normal and make a decision.
This line seems to be important enough to initiate a regular correction. We may even chance to see a retracement of the rise since October.
The rise was to fast for my taste. We've reached a new high and may correct the rise to collect new breath for a further rise.
We saw an incredible spike of this stock this week. It has been retraced immediately. There must be a new buying interest that has been driven to a hyperbole by short term speculators who took profit as soon as the rise came to a halt. I assume that this spike would not have been possible without the existence of more serious buyers I am taking the chance of the...
Obviously we cannot reach the double top again but don't have momentum to correct downward. We are sticking in a trading range supported by an open window since May 3rd. But as the way up we have gone since January is so long I cannot imagine that the market cam become clean by a sideward trading only. May be we may stick in the range for some more days but...
Despite the price has run already for a long time there seems to be enough room for a further rise if this doesn't become a consolidation zone here. But it seems that there is no momentum for a downward correction yet.