Earning season is here! While the major banks earnings were somewhat positive overall, the Tech Sector got a rocky start Netflix missed revenue estimate and subscription numbers Tesla went from growth to both Revenue and Earning contraction for 1Q2023. There is a glut in the chip sector as well which doesn't really spell good news for AMD and NVDA. Considering...
It is no secret that we are bearish on Apple. Recent demand for iPhones has gone down rapidly. Revenue and income show sign of the company going ex-growth. Price is now below the earning "rally". The gap at 149-145 which should act as strong support is now broken. We should be seeing more downside toward the 136 level. On a longer time frame, we expect Apple...
We warn of this selldown just 1 week ago while everyone else is calling for dip buying and all-time high targets Now the market is calling for a 50bps hike. Some are going as far as a 75bps hike for March 2023. So what happened here? 1) Unprecedented activity in the options market. Massive buying of call options by FOMOers and YOLOers has a material...
Make no mistake; we are bearish on Oil and Gas over the longer term. The longer-term price trend is still on the downside. This is on the back of a recessionary theme and global demand destruction. As of now, the market rally is still fueled by the "Fed Pivot" expectation. The credit market is fighting the Fed, sending the yield and the dollar to the...
As we close out the first trading week of 2023, all 3 US indices close on Friday with a 2+% gain. What a great start to 2023! Is it really, though? If you think the market rallied on higher than expected NFP and lower unemployment rates, this is your first mistake. For most of 2022, the market had considered any economic strength is bad for stocks because...
Freebie trade for everyone. The major Support level at 1500 - 1500 is broken down. Price is finding extreme difficulty to break above 150. There were three gap-up attempts only to close red.
Amazon just got a stock split. It is now at a level that retail traders can afford. There is a huge resistance at 130 levels. Yesterday's pin bar candle shows rejection in price. We may see a further decline in price if the resistance level holds. If the price can breach beyond 132, it may rise further to close the gap at 138. If you decide to short at the...
Good Volume coming in and price action align with recent fundamentals. 0.480-0.500 is possible. The support level is at 0.295. Take care of your risk and do your own due diligence.
Norton showed up on my radar on Monday (07 Feb 22) The moment I saw "Packaged Software" and "Technology Service", my first thought was "I'm staying the hell away from this" And then it shows up on my radar again today. The only difference is, it is now 9% higher in price. But that was not what caught my attention. If you look at the price action from Nov 2021...
Google along with Microsoft are the few Tech Companies that still have huge growth potentials. While it might be a little complacent to say "the only way is up", it would be more accurate to say "Up is the path of least resistance". However, as traders, the more important question would be "How much drawdown can we handle". We cannot trade with the expectation...
There's one thing in common in the current tech selldown 1) Revenue-driven companies that have not seen any profits yet are diving down by more than >30%. These are companies that are striving for high revenue generation through high spending and debt. Think Crowdstrike, Door Dash, Lemonade, Peloton, etc 2) Profit-driven and cash-rich Tech companies such...
The OG chipmaker raking in record profits and beating expectations! Upon the positive result announcement, the price gap up but closed with a slightly disappointing shooting star. Yet, Friday's (14 Jan 22) closing tells us that buyers are still willing to pay a higher price for TSM and the price manages to close at all-time high. Price technically close above the...
Semcorp Industry got its happy ending after divorce from its toxic marriage with Sembcorp Marine. Price has been up ever since. In fact, we had a previous buy call back in April 2021. It hits our TP level of 2.20 back then, and it is now trying to re-test the resistance at 2.30 again. Whether it can break the resistance or not, we cannot say. However, as long as...
My Humble Opinion on Tencent Currently, the price is in the consolidation zone. Note that the "consolidation" process is a neutral term. It does not have a bullish or bearish bias. It just means that there are BOTH buyers and sellers interested within that narrow range. Hence there is a lot of transactions for a long period. Over a period of time, either the...
Tesla, definitely bullish after beating the production estimate. The price went up 13% yesterday. If a trader can make a profit just by chasing bullish candle/price action, then all of us would be a billionaire. Unfortunately, life isn't that simple. We have to account for any possibility of a price drop. Theoretically, the trend will still be considered up,...
One of the top tier counters alongside Microsoft The "rebound" 167 is not really established support yet. That level can be still broken and the price could potentially head toward 160. Traders often make the mistake of prematurely calling "SUPPPORTTT!!!!" as soon as they see some form of rebound and then go YOLO. As long as the resistance at 181 is held, the...
Meta {FB} have dropped 21% from its all-time high during the past 2 months of market retracement. Nonetheless, the uptrend and chart structure is still intact. We have a very strong hit of resistance turned support at 300. This price level can be a focal point for investors looking to enter or traders looking to work out their stop loss level. As long as this...
Unlike my usual Trade setup, I have much more tolerance for my long-term holding that isn't just based on Technical alone. This is because I am usually buying in small batches on dips rather than placing a big lump sum at one go. Microsoft has so far shown strong earnings and fundamentals. Unlike other growth companies like NVDA or TSLA which have ridiculous P/E,...