This is a follow-up idea to my weekly forecast. We're curently short with expectations of price bottoming near 6404 over time. The longer term chart signal is invalidated if prices break the 6400 support zone strongly, so once we do hit it, an immediate rebound would be good for bulls. Stop loss is 5269 for the long term long entry, once we cover shorts. If that...
I think $PG is a good buy here, risking a drop under this week's low at least. Upside as per the green arrows but it may trend for much longer, judging by longer term charts and fundamentals for the company and macro trends. Cheers, Ivan Labrie.
$DXY is about to move higher, I would aim for new highs, but we will have to watch it, as soon as it gets overbought again. Cheers, Ivan Labrie.
A great trending market, except it grinds up over time...Best way to trade it is to buy oversold dips after sellers are exhausted. Cheers, Ivan Labrie.
I think this is once again an interesting name to buy back here...I recall @timwest pointing it out in early 2016, near the very bottom before a huge rally. We were bullish on it at the right time, and I think it's the right time once again. Fundamentals for the stock are a bit convoluted, with self diagnostic kits segment being highly competitive, and sales...
It seems Argentinian stocks have bottomed here for now, after basing for 5 weeks, daily charts show some strength but there's risk going forward after the elections by October 27th. If the next president manages to surprise investors positively, the situation here might improve, and inflation drop down if the dollar is kept in check, and investments start flowing...
I think the monthly downtrend might end up failing to reach its target, if $ETHBTC holds over 0.0213 it may go up rapidly in the next 13 days. If it does, it could retest the monthly downtrend invalidation level, before the ratio has a chance to reach the bearish long term target I had outlined before. In that event, $ETHUSD may start to outperform $BTCUSD as both...
Weekly $USDCNH ended a trend recently, starting a consolidation period, as it has done since it bottomed this year like I anticipated. Upside movement in this pair is likely tied to money flowing outside of China via Hong Kong, which is also linked to money flows towards $BTCUSD to dodge capital controls possibly. The next upswing in this pair hasn't yet...
$USDTRY is one pair that is likely to trend up over the long term, but it's currently stuck in a huge monthly triangle. Recent action is interesting since price sits at a confluence of 'inside trendlines', speed fan 75% retracement level and linear regression channel 2nd standard deviation, as well as retracing to the mid point of a recent 'Range Expansion' up day...
Keep in mind the risk of entering ahead of an earnings report, but the technical chart is picture perfect in #BBBY here. IF it holds up over $9.6 it can rally towards the yellow box targets on chart by October 15th. Best of luck, Ivan Labrie.
Unless we erase last week's downside move, the trend is down for the next 10 weeks. Target is 6833, but might bottom higher (or lower). Watch the behavior here, since Bakkt and Binance.US did nothing for price, downside action is the next logical course of action. I flipped short after hedging spot holdings near 9687.5 today. We were long spot from 5300 to about...
Silver is at a low risk level to buy it, in case the 2M timeframe signal pans out. Long term stops should be below 17.300, and daily under 17.382. Targets are on chart in case the long term chart signal ends up working. Cheers, Ivan Labrie.
I'm watching $BABA for an upside breakout of 179.88, which could trigger an explosive rally in the stock. Today wouldn't be a bad long entry here, with a wide stop at 163.96, but once the breakout happens, another trade with a stop at 171.43 can be placed...Upside targets are up to 276 in the long term. Best of luck, Ivan Labrie.
Interesting setup in $USOIL, the fall from the last top favored a bull run in stocks with a 6 month lag, as per @timwest's findings suggest (every time oil falls 25-30% it boosts earnings going forward). Monthly charts show accumulation supporting the market below, and daily confirms a trend by today's close. I think stocks are headed higher with oil here as...
My clients and me have been long $NVDA from a couple days ago, before the big gap up and rally from yesterday. The weekly chart now flashed a huge trend signal here, so catching any dip towards the buy zone on chart would be a great opportunity. Valuation and positioning improved dramatically, after the bear market in this stock, so now we can look for buys with...
The long term trends that were triggered on Nov 2011, Jan 2013 and Nov 2016, plotted as an overlay to the current daily chart, paint a bullish picture for $SPX and our stocks portfolio as a whole. The long term chart is about to confirm a rally, like how it did back then on those 3 occasions. If it does, we will likely be higher by the end of the year, in the...
$EURSEK 4H chart fired an uptrend 1 bar ago, the target is where the daily would trigger a Range Expansion bar today, which would in turn trigger a larger 12 day trend, if not, tomorrow's close is likely to confirm the same trend but with a higher low, above the daily mode level, where most of the accumulation took place. The trend target is the yellow box upper...