CSCO over 50.00Great looking weekly and monthly charts with a double bottom/rounding bottom that it is just beginning to break out of. Eyeing Jan 2022 50-55c.
Cloud
DDOG channelDDOG looks like it'll keep moving in this channel either until we have a fundamental catalyst (news) or until we inevitably see a break and retest, which would pose as a good trade opportunity.
Will NET Bring Cloud Back To Life?NET NYSE:NET is a riskier play at this moment due to the overall weakness in tech stock and market conditions. But, in comparison to other companies in this sector NET is holding up fairly well and showing some relative strength. NET tried to get over $76 today and failed to hold above. Testing a strong support zone for the third time over the past two months and looks like we may be starting to bounce. Volume has been accumulating with 4 out of the last 6 days trading above NET's daily volume average. POC on the daily chart is right at $82.51 lvl. If SPY/QQQ can start to breakout this week $$ should flow back into the tech stocks and the cloud sector which has taken a solid beating can see some bullish movement. Ideally, we gap up to $78 and form an island reversal. But, a play over $76 with the right market conditions looks primed for a good swing.
EMA's serving as a resistance above in the 78-79 range, tough lvls to get through in the Low Volume Node (LVN)
4/16 $80 calls will be my swing of choice (4.35/4.65). IV is very low 21% IV percentile on NET and if the market starts to move back up these can pay out well!
*I entered a small NET position this week and will add more on break of $76 with volume.
NET over 77.37NET has been beat up since earnings, had strong volume on Friday's trading session, is SlowStoch oversold on the daily, and could catch a bounce if tech does.
$DBX - Short term long opportunityNice cup and handle with a falling wedge breakout - targeting 25+ next week. Some more extended targets are:
26.65
27.13
27.83
Good luck!
MSFT under 240.55Bearish rising wedge pattern on declining volume. Under the VPOC could see a fall to the 234.00 area.
LINK Pitchfork Mid-Line target of $100 by MarchLINK is still massively undervalued and the Pitchfork shows this out. The mid-line alone still has LINK in the $100 range by March.
If you don't think this is possible in LINK then I suggest you take a look at UNI's chart when it moved from $3 to $20 in the span of a couple weeks. Considering the spate of recent news out in LINK from:
1) NASDAQ ETF - www.theblockcrypto.com
2) China's BSN network integrating LINK on Mainnet - medium.com
3) Kraken launching a full LINK node for DeFi price feeds - www.theblockcrypto.com
4) Oracle Corp Executive confirming to me on twitter that they are still collaborating with LINK team on the project "Every Startup in the Blockchain with ChainLink and Oracle Cloud"
twitter.com
The TA and the Fundamentals are strongly aligning for a massive move in LINK coming in the next 2-4 weeks. Stay tuned!
FSLY over 115.21This name moves big every once in a while and price action may be hinting one is on its way this week. While it 'filled the gap' with the wick a few days prior, it could not close and hold over. Subsequent candles show a good degree of buying and selling pressure which can indicate a larger move coming.
Current ETH structure 2.6.213 possible path i see playing out here. Manage your trade with possible structures.
SNOW over 310.66Breakout from the bottom of this ascending channel but found resistance at the fib above and closed below the VPOC. Both will serve as resistance, entry over the high of day should see continuation.
TEAM over 240.26Relative strength on last week's market weakness, can break higher out of this descending broadening formation. Cloud/software/cyber security names looking strong into this week, we'll see if this sector gets rotation.
ZI over 50.23Really awesome setup here and this one is finally ready. Thin volume above the major fib at 51.58. Daily candle close breaking this major descending trendline.
DOCU under 222.30Shown on the weekly, at risk of breaking ascending channel. Can short down to VPOC as support. Watch QQQ for weakness before entering as it tends to follow.
SNOW READY FOR A BLIZZARD !1! Snow on the daily is getting squeezed by a bullish pennant . MACD is looking ready to flip along with squeeze momentum finally finishing its sell off. With declining sell volume as well and SNOW consistently holding up its long term support line we could see SNOW gap up to its first price target of $330. Along with the trend analysis as seen we also have to take into account NASDAQ:MSFT earnings report released today stating that they had a 17% revenue increase because of cloud business. The future is SaaS and SNOW is looking ready to snow some cash !
Ichimoku entry AYROexcluding today and a few days ago, this signal has triggered on this ticker 5 times since Dec 2019. Every single one has hit for at least 5% and most of them for over 10%. So either we're due for a big loss to appease the gods of balance, or we can have high hopes for this one!
SNOW over 293.19Elliott Wave analysis here indicates this will put in the third and most powerful impulsive wave soon with a first conservative target above. Count is invalidated below 279.10. Note that the projection here is the price level and the time this price is reached is not an exact part of the projection here.
DDOG to 120?DDOG - Currently in a a flat correction and looking for a breakout of the triangle to retest ath. With earnings approaching (mid February) we could see a nice run up to retest ATH. This company has shown strong growth and has generated great returns since its IPO in 2019, nearly quadrupling it's IPO price in 2020. DDOG reported a 61% increase in revenue for Q3 and an outlook of a 62% increase in the year of 2020. Trading Plan annotated in the chart.
Options Ideas
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110 C 1/29 (High risk: High reward) day trade option
120C C 2/12 (Medium Risk: High Reward) High OI
AYX - Triangle patternAlteryx, Inc. provides self-service data analytics software platform. Recorded bad earnings last quarter and has wild 15-20% swings. Short interest is 8.7 %. I like this triangle pattern to breakout, as in my last post MSFT will post good earnings and benefit tech stocks next week.
GDRX - Bullish pennant forming on dailyGoodrx is in the cloud software healthcare sector. Nice looking bullish pennant (lower highs , higher lows) on daily with over 28% short interest. Finviz has a $48 price target. Microsoft has earnings next week, so they should push all SaaS/Cloud stocks next week. Good luck!
