I've been tracking a TSLA long term short from a prior idea and was greedy expecting price to trace back to 150 levels. With the bearish nature of the past couple day's moves, a gap down creating an island is just what the doctor ordered for TSLA to continue its downward path.
TLDR Open gap down I’m super bearish. Continue to range in this 190+ zone I will...
technically the bull move in this stock has left much to be desired in terms of sustainability and stability. huge moves like this have been historically quite bearish for the stock. my estimate is that the price needs major support from a catalyst like earnings or a special response from investors while even a lackluster earnings beat could disappoint bulls. if...
Look out below. So fragile now. Anything will break it IMO.
Can it still get a lower high? Ofc. Who knows, bad place to be long IMO.
Indicators all stuck in the middle, anyone's guess for Friday.
Should it gap down and leave an island top, would be game over.
High timeframe so this could take several months to even get back to the gap fill but very nice high RR on this if it comes to daddy. Classic bearish island top into potential H&S as per Edwards/Magee.
Up TL broken; DT in progress, Bear Rally = EW 2; Chart details suffice IMO; Shark Nenstar is in play, Tar 2498-2530;
Res Ipse Loquitur!
EW Projections are Estimates based on most common occurring Fibos;
This is NOT investment advice; trade at your own risk; GLTA!!
Ref: JJ Murphy, Fig 4.10A, p. 72 (TL Rejection) and EW Chapter Theory:
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Ref:...
SPY opened up euphorically, up 2.9% at it's high for the day. Strong 2 way trade ensued as expected (noted yesterday). Index closed up 1.3%, but much lower than the open.
Thursday's strong down trend day was followed by sell into strength of Friday. Rips were sold, dips were grudgingly bought. SPY was down as much as 0.6% before buyers closed up the index for...
A-B-C Recovery
Ending diagonal
Diagonal break with a gap
Island TOP take place?
Pieces of evidence are clear for short. The protective stop could be at 2822, 2870.
Targets:
for V shape believer: 2500
for U shape believer: 2000 - 2300
W shape believer: 1700 - 2100
L shape believer: more
Bloom has been on a massive / fast paced run since October, however a clear downtrend is still present, and the success (breaking the downtrend) or failure of this bull flag, will determine if the stock rises or falls. An island top is also present with a clear price gap.
Ubisoft has been stuck in a downtrend for awhile now, an initial island can be observed and linked to the current downfall of this stock. Currently the price is trading within a downtrend, where a second island bottom is present, which may lead to a reversal at the immediate support zone. Overall the bearish momentum, outweighs the possible bullish factors.
Spotify is showing mixed signals with the formation of a diamond top which is indicative of a bearish reversal, evident on the chart. Also, formation of an island top which are a quite reliable bearish reversal chart pattern. The uncertainty in this chart may be evident to investors which choose to capitalise on this or sit out.
Personally I use Spotify myself..
