$SPY broke the previous support of 457 approaching below 430. in all time frame SPY is really bearish. but the RSI on 1hr and 4hr chart shows that its oversold.
oversold level doesn't mean it will bounce there. But the probability of short bounce is there. overall it seems the market is trying to deplete itself at the moment.
most of the stocks that is rallying from this market are the retailers and energy. basically there is probability that the market is going in cyclical rotation but I could be wrong..
Day trade or scalp target play: 01/24/22
Buy call above 444.44 sell at 450.93
Buy puts below 434.60 sell at 431.22
Hello everyone,
welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock is going to go over the next day or week play and where I would look for trading opportunities
for day trades or scalp play.
If you have any questions or suggestions which stock I should analyze, please leave a comment below.
If you enjoyed this analysis, I would definitely appreciate it, if you smash that LIKE button and maybe consider following my channel.
Thank you for stopping by and stay tune for more.
My technical analysis is not to be regarded as investment advice. but for general informational proposes only.
oversold level doesn't mean it will bounce there. But the probability of short bounce is there. overall it seems the market is trying to deplete itself at the moment.
most of the stocks that is rallying from this market are the retailers and energy. basically there is probability that the market is going in cyclical rotation but I could be wrong..
Day trade or scalp target play: 01/24/22
Buy call above 444.44 sell at 450.93
Buy puts below 434.60 sell at 431.22
Hello everyone,
welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock is going to go over the next day or week play and where I would look for trading opportunities
for day trades or scalp play.
If you have any questions or suggestions which stock I should analyze, please leave a comment below.
If you enjoyed this analysis, I would definitely appreciate it, if you smash that LIKE button and maybe consider following my channel.
Thank you for stopping by and stay tune for more.
My technical analysis is not to be regarded as investment advice. but for general informational proposes only.