The US markets have taken a beating over the last few weeks but as sellers start to reside we could see some short term recoveries across the market on some strong players. Im watching AMD closely with this flag formation, not ruling out a drop back further yet before a bounce but the market structure is set for a continuation Fib levels from the last bullish...
AMD has been quite frustrating throughout this wave 4 pullback. Possible we see a breakout of this extended bullish falling wedge to play upside in the next 1-2 weeks. Looking to retest the $114 level, above that we get a larger breakout to ATHs. However if we reject the falling wedge resistance here, possible we see waves D and E to complete an ABCDE corrective...
see chart, looking for this BULL flag to get broken to the upside, nibbled some NOV Calls here
Intel has underperformed for a while now and it's price reflects that. However, the chip industry is on fire atm and INTEL still remains the largest Chip producer in the world. ---------- Price action is currently stuck in a descending wedge (Bullish) with a bearish rejection at the recent resistance. Watch carefully to what happens at the wedge support around...
Morning Star forming on W chart. Bought Jan 72.5 calls & Stock $68.58 is my Stop
Always overbought. Run! *valuation matters Great company though.
AMD setting up for a break of structure and PT is 110. Let's get it. TRENDYCHARTSANALYSIS BABYY
Today I contemplated closing 75% of my long in NVDA as it is well in profit and I have much leeway right now to walk away and let a small amount ride. The reason for this is because NVDA has broken both a key upward sloping trendline as well as the .786 Fibonacci level on the daily and 4 hour time frames. This does not have to be the end of the road for NVDA but...
Mid July I posted a bullish idea on AMD and how the $93.50 level approximately was the level we wanted to watch as being key to AMD retesting and breaking previous all time highs. Well AMD broke and found support at the $93.50 price level and upon doing so the price sky rocketed from that exact point and found itself on every news network this week that covers...
Overhyped Ponzi Pogs. Same as the rest. Cash exit while you can. #chipwars
So far on NVDA we are still up nicely on our original idea and as we predicted NVDA is now putting all of our fib levels to the litmus test as it finds itself right in the middle zone of the entire fib retracement. I expected the .383 to be properly tested before liftoff and so far it is holding up. If it can continue to hold, NVDA will find itself breaking out...
An expired playbook. #epiceconomics
So things got a little weird today at the open with the stock split as many traders checked their holdings to see NVDA down -70% today. Once it adjusted and all of the speculative traders jumped ship, Nvidia found itself spending most of the day battling at our .236 fib level, which is now $185 approximately. For now it has found itself above this level after...
Had to take the AEHR chart all the way back out to 2017 to find some levels to plot. Took the fib retracement and look what we found: high traffic area around the 236 level. Tested it for the first time since 2017 and failed to break & hold. After pulling back, AEHR came within testing distance of the 382 level. After such a huge extension it will be interesting...
Its been a rough go for even the most bullish setups on equities lately due to the rocky nature of the macro with recent news of further inflation fears. Nonetheless we continue to hunt for the setups if not for the gains, then most definitely for the learning lessons that the markets can teach us. For this asset, we keep things simple by keying in on an uptrend...
no thanks. Ponzi Pogs.
If breakout wait for pull back buy off support line which was previously resistence. else if it pulls back to $36 level, 1/2 full size position with stop loss at less than 33.40 Big Picture story: Microchip Shortage = Demand
On July 4, Chinese chipmaking giant SMIC announced that the company's vice president of R&D and its core technician, Dr. Jingang Wu, has recently applied for resignation due to personal reasons. He will no longer hold any position in the company. According to the recent statement of China's largest foundry SMIC (688981:SH, 00981:HK), the company's R&D work...