Just for fun ,would you mentally and financially survive if this happen ?
Hello Everyone! let's look at the chart and see what we spot after two days sell off on AMZN and on indexes as well. Yesterday AMZN traded across its 50 sma which acted as a support area and at the end of the session it almost recaptured its 20 sma at 3303 (closing daily at 3294). The candlestick it formed is a hammer, known also as a bullish pin bar. This type...
The ugly face of the bubble .
S&P500 , bounce off the 1.618 Fib level . BTFD !
Hello Everyone! It seems now long time ago I wrote about FB trying to breakout at 241 USD (it was just June...) and we find it today above 300 USD...! Aldough I believe that this company has all good cards to reach 1 T Dollar of capitalisation in the near future, does not mean it will reach it the next days. Market goes in waves : waves up and waves down, a...
Much has been said about Big tech five's dominance on Nasdaq and S&P500 and how grossly valued NDX is. People often don't realize that big fives generate a good portion of their revenues oversea so technically their TAM is the entire world. Furthermore, internet, IT service and e-commerce industries are less impacted by Covid-19. Also, over the last 12 months,...
Hello Everyone! A bunch of signals from MSFT after Friday close, let's start. Following recent all time high, price starts to breath out and looks like to find support at 50 sma daily (195,78), where very near we can spot the first Fibo retracement ( 196,86) actually not even touching those levels but bouncing off before reaching, infact the low of the daily...
I did a quick wave analysis over the last several decades. If you mark the start of a new motive wave cycle starting on the 2009 low, you get a very nice motive wave cycle. It technically came up a dollar short. However, wave 3 ended with an overshoot. So there may be a touch more left in it, but it looks like it might have reached the end of the road. Will there...
Hello Everyone! The divergence spotted early June on 1H, 4H, D and W timeframes did not take place. Amazon is showing a strong momentum bouncing on the 20 sma on its daily timeframe. Aldough on shorter timeframes divergence is still in place, on W timeframe the RSI divergence disappeared after the recent rally, the indicator is in overbought level at a value of...
Our previous objective of $6 is almost reached. A confirmation pullback pattern could form using the $6 resistance. If not, the next resistance is at $7. Today's breakout represents a strong mid-term buy signal as we can now see a cup and handle pattern combined with a breakout. We also note that the rally that started on 20 March point could be the start of a...