Turtle Soup Sell (TSS) on the weekly if closes below 63.42. TSS: A close (Friday 6/1) below previous 20 WEEK highs (63.42) after making new 20 WEEK highs (the higher the better) sets up a TSS, powerful short term reversal on the WEEKLY chart. Set up is invalid above previous 20w highs (63.42) - often fluctuation at those levels. Set and trail stops...
Was waiting to short MU, Lets watch for a good entry on 15m chart. Will wait for the pull back to structure/618 then short. Expect it go to Fib extension 1.2/1.4 levels!
MU After hitting the high of 63.42 market pullsback to breakout point of 50.00 The pullback likely would have stopped you out That pullback also provided a reversal pattern Depending on your rules most would not have bought that market until it went above the 50 day EMA Me I would have bought near the 46.64 level anticipating the change in trend Now that we...
Needs a monthly close above to negate div
After taking a second look at the stock thanks to ricsalrod, I noticed that it looks like the stock wants to complete a ABCDE before entering its 5. PT still in the early 70s and still looks to make a head and shoulders top and correct. Thanks for for taking the time to look.
This is a great opportunity to enter a long position on Micron. We have a bear and bull scenario, the bull one is the most likely. Bull We just finished the wave ((i)) of the wave 5 (one larger degree), so I'm expecting a correction between the 50% and 65% fib (49.42-$51.15). Why? Because: -4H RSI broke this ((i)) wave support -Second waves usually retrace...
Well this is what I see on MU. Looks to me that it will complete its right arm of a head and shoulders top and head down for a bit. Only time will tell. Thanks.
Looking at trends from what I understand so far, is that after this dip this is going to be a buy and hold for a couple of years till the next spike. Although it may not be so long do to the fact that there is so much research and development on solid state hard drives. Once these are more affordable, I'd keep a close eye on this puppy. But this is just me......
Hey Guys, things seem to be looking up a lot for the SPY, here seems to be one of the many scenarios here that could play out. The SPY seemed to have a fantastic run up here with a slight retractment (B-C) and a possible measured move up to D. Only problem is, that if D is reached, the SPY will have to be completely gassed, meaning it's best to wait for a...
MU 15 min chart is showing an ascending triangle pattern.. Might be a good short term play
The Weekly Chart of MU favors a bounce upwards. Your stop loss would be just below 45, and a profit target near 60. You risk about 3 dollars a share for a reward of 15 dollars a share. That's a 5 to 1 risk to reward which is outstanding. The next support level down is in the 38-40 dollar level, so if you get stopped out, the 38-40 level would be the next area...
With most of the earnings heavy hitters in the rear view mirror, there isn't much to trade this week of quality from an earnings announcement volatility contraction standpoint, with DIS being the standout name. DIS announces on Tuesday after market close with a 30-day implied volatility of 25%, which is in the upper half of its 52-week range. The May 18th 96/97...
Completed wave 4 and should bounce off 150 MA, go up a bit, retrace and bounce off 50 MA. PT $72 Lets see how it goes, too much uncertainty in the market right now to really tell.
We're at a good support level and the 1h RSI is oversold. Expected bounce tomorrow and we'll probably reach $50 this week (previous resistance). Nice swing trade opportunity. Happy trading :)
MU Hourly Chart - Possible Long Play - Inverted Head and Shoulders look - Notes on chart-
MU is breaking out after double top and a retest of the prior swing low. MACD crossing is also a positive sign that a run higher is imminent. The strong performance today looks even better given that other stocks in the same sector were smashed on the ER results of LRCX (which i feel was unjustified). I purchased May 25th 52.50 calls, and a run to the 60 range...