Possibly completing Wave A of something bigger. Deductively this leaves us with many scenarios, and we are speculating that a zigzag or a ABCDE is next, we cannot possibly tell from this standpoint. In either case a significant overbought on the daily leaves chances for a reversal and a bearish scenario to follow.
We are not in the business of getting every...
Playing with hypotheticals regarding the breakdown of the large trendline that extends from the year 2000. It is very strong.
If price breaks down it is currently supported by the 4.618 fib
however this is just speculation, it is a lot more likely that continuation of the uptrend will result
Areas in red are very similar rejection points
I like this level on NASDAQ:CSX for a long to retest the Major Highs. It is the 50% Retracement since the September low and the bottom of the Daily Ichimoku cloud. it is post earnings and IV has returned to average I am using the May24 37.5 Calls to express the trade.
It looks like we are currently at a high that has broken the previous high since August 23rd. I want to wait until price gets closer to my 20 (red) and 50 (orange) ema's It seems as if we started trading above the 200 ema after we had bearish candles that broke under temporarily where it reached and rejected a strong support level of around $29. Between Dec 2020...
RSI overbought on daily chart.
Price make contact with resistance area for the 4th time,
Volume seams great so far to expect a breakout anytime soon.
Buying signal must be consider before taking any position.
In case of a short position fibo 0.5 is a good option, as usual.
Bad news aside, IYT is what pushes the DOW to 37k. IYT got pummeled back in June losing alot of ground. Airlines and Railroads have finally found their footing, basing, and slowly climbing up this past week. IYT to 300 soon!
NSC - Ascending triangle, Rail sector news. Canadian Pacific Railway (CP) To Buy Kansas City Southern (KSU) In US$29 Bln Deal. NSC is forming an Ascending triangle on daily TF. There will only be 5 rail stocks left with a positive ROI, based on Finviz.com screener.
This $CSX has a nice window above - coming off a strong breakout day today - look for possible continuation tomorrow.
This will be at the top of my watchlist off the open to see if strength continues to enter it.
We have a possible entry opportunity with a pretty clean window above which may provide some nice action in this!
Check it out and let me know thoughts!
xeenos trading - sending positive energy to all those watching
Potential buy opportunity.
Price dropped & hit the 9 day moving average & reversed.
Flat 26 moving day average & lagging span indicating a breakout.
Large gap between 26 MA & 9 MA indicating MA disequilibrium
Thick lChimoku cloud indicating high buying volume.
lChimoku cloud momentum indicating an uptrend.
Price above lChimoku cloud.