Was not planning to do any deep dive research for this one, but the long term trend of ICE is too obvious to ignore.
Despite the choppy daily chart with now and then a small jump, it did grind higher and higher, decades-long.
When dealing with such a long time frame, it's important to adjust the pr-ICE to splits, dividends, and rights offerings.
And let the ...
Short term trade set up to hedge long position, ex-dividend date may trigger sell off.
While price made a higher high, RSI set another negative divergence.
Also noting buy volume is getting thin.
In EW terms, this rally off the June low seems to be corrective 3 waves.
Contra argument: neckline around 57-58, coincide with huge volume profile wedge, may provide...
Got FOMO'ed in b/c WEB kept buying? Take measure to protect yourself from a potential drop in the short term:
It started with negative divergence in March, noticing that volume did not follow through after the breakout, it might end up with a H&S formation that project to the low 40's (blue lines).
That region happens to coincide with:
- the yellow trendline with...
Clear 5 waves (of a high degree) down + declining technicals suggest more pain to come in the years ahead.
However rebounce to 100+ in the short term should also be very doable.
The 0.618 retracement from ATH is hard to ignore, weekly RSI closing above 24 will confirm the positive divergence.
Wait until the OpEx dust settles on Friday and we should be good to go...
The ETF SXLK has been providing an easy access to the US big techs for the European investors, allowing us to piggyback the insane bull run over the past few quarters.
However in the recent weeks, it's showing some weakness. While the (5) waves up off the March 2021 low looks complete, the daily RSI shows an downward trend.
Above all, the weekly RSI and...
TLDR: short term upside target 1k - 1.1k if 860 holds.
On the 4h chart published above, we can see either a i-ii or a a-b movement off the Jan '22 low, with a higher low struct at 838.
If a new higher high presents itself, preferably above 860, both counts will project us to ~1050 in the short term.
The rising trend of the RSI, started...