LongIGV
Long
ZScaler inside uptrend channel (Watching!)ZS has been behaving well inside the uptrend channel drawn. When we touch the upper part of the channel, we see a pullback to the lower segment line.
RSI analysis suggests, we have difficulty going above the 70 level, however, the chart remains bullish whenever the RSI has been over the 43 RSI. A break below 40 in the RSI would be short-term bearish. -----> conditional Bull
OBV has been trending upwards since the earnings gap-up we had May 29th. -----> Bull
50sma is lining up with the lower channel line, which could work as a support, and a buy entry with low risk.
APPS - breaking OUTAPPS is breaking out of its parallel channel; with a 10% move; while the technology keeps going down.
I have not seen any news that could create this move today.
Intraday volume has been above average by 70%. (tool being patented by Schwab)
RSI is oversold, but as we saw earlier, APPS doesn't mind reaching 90 level. Looking for a strong close today to enter a small position.
Long
Fortinet at important supportWe are seeing confluence of support around $120 approximately.
Test 1: February high
Test 2: Bottom of gap
Test 3: 200sma
Risk Reward ratio is great, as we can set a stop below the 200sma.
RSI is still not oversold on such a drastic down movement.
Long
Zoom zoomZoom Video Communications is making a really cool flag.
There is about 20% to get to all time highs. Projected moves aren't made to make a trading plan, but it certainly helps to have them on the background.
Long
FLong
Heavily Short the $QQQ - I Believe Today's Move ReversesTomorrowNothing to be excited about with this rally. Same old empty promises by the administration, buy puts on the way up today and wait for the reversal tomorrow/end of week in my opinion.
Disclaimer: I take no responsibility for your losses. Trade at your own risk.
QQQ
SPX
IGV
Short