NYSE:BABA Watch $77 to $78 critical support area. 👀If that breaks, things are not going to be pretty. Losing VWAP and 200DMA support is worrisome!
If AMEX:SPY fails to bounce from here and breaks below $522 - $520 area, things will get ugly real quick! The members of the Fed are becoming sports commentators, narrating every move in the macro data and causing havoc in the market. Potential downside targets: $515 $498 $475
NASDAQ:RKLB Rocket Lab is attempting to break out for the third time. 💪The stock has been on a hard-to-borrow (HTB) status at Schwab for a while now. he $4.70 level is a significant overhead resistance because it is where the 200-day moving average and the volume-weighted average price (VWAP) (orange) intersect. For price targets, please refer to the May 20 post.
NYSE:NKE Nike is getting tight inside the triangle. Currently trading along the POC volume support. There is a potential that it could resolve to the upside. Breaking out above 50DMA could give it a further momentum boost. 👀
NASDAQ:DKNG Head and shoulder + trendline breakdown. Full measured move for the breakdown is $32. Watch $32 to $30 area for a potential reversal. 👀
NYSE:SNOW needs to reclaim above the critical $157 Point of Control resistance. If it fails to hold the trendline it could see a quick drop to $142-$143 area. 👀
NYSE:NET Cloudflare is tracking along the trendline. MACD just crossed bullish and RSI just exited the oversold territory. $76 - $77 is the overhead resistance. If it can overcome that area, it could close the gap.
NASDAQ:PYPL PayPal broke below the trendline. The $60 area could provide strong support as it is the convergence of the VWAP, 50% Fibonacci retracement, and the 200-day moving average. Watch $60 area for a potential reversal.
NASDAQ:MARA Marathon digital run into resistance. Watch $22 - $23 critical resistance area for a potential breakout. 👀 $20 looks to be a new support.
NYSE:SNOW is going into Earnings this evening with an Inverse Head and Shoulder setup. It is currently trading at the neckline resistance and POC volume support area. A good earnings could send it to $180 area. There have been a good amount of June 21 $185 calls traded today. 👀
NYSE:DHI possible head and shoulder pattern forming. Watch $140 area for confirmation. Invalidates if the price travel above $157.
NYSE:CCL is trading above 50DMA and 200DMA. A breakout from the wedge inside the ascending triangle could see the stock revisiting $19 area. Targets: $17 $19 Overhead resistance: $17 to $17.50 Risk: $14.50
NASDAQ:RKLB Rocket Lab hits a major resistance area which is a combination of the descending wedge trendline, 200DMA and VWAP. RSI has cooled so hopefully we can pick up some momentum again. It needs a catalyst to breakout of that descending wedge. With close to 20% short interest, we should get a good squeeze.
NYSE:SNOW Looking good! There is overhead resistance which is convergence of vwap and 200 DMA around $169 to $171 area. 👀 If it can overcome that area, it can run to $180 to $183 area.
NASDAQ:SOFI The combination of trendline and POC volume resistance was too strong to overcome. We can't afford another rejection from this trendline. Need a breakout. If it happens, the measured move is $9. 🙏🚀 We know CPI tomorrow will be bad. Normally the stock reacts badly to bad CPI.
I still think Boeing needs to check back on that trendline around $148. I am not a buyer here. There are so many more shoes to drop with Boeing.
NYSE:CCL Bounced from the trendline. Still hanging onto that triangle. Need to get above $15.50 which is 200DMA + 50DMA to start an uptrend. 👀
NYSE:BABA Alibaba is trading above 200DMA and broke out of the year long descending wedge with the measured move of $104. It is about to hit the next volume resistance area around $83 area. With RSI entering overbought territory does it still have a momentum to keep going? That depends on May 14 ER.