AMD has been on a tear lately, but we are now extended and expanded pretty good now. Weekly resistance sits around 122, so I wouldn't be surprised if AMD has a price correction here soon.
I have a side by side comparison with the weekly and Daily chart. With the weekly showing a nice 3 week run after the bounce.
I have support around 112. If price pulls back...
The SPY closed on Friday finally breaking below the channel that it's been holding for quite some time now, and closed sitting on the 50-day SMA. Every time we've previously touched the top channel line, the SPY has fallen to the bottom channel line and bounced right off (see charts below). However, there is a very clear shift in seller volume starting to outweigh...
Here we have AJ on the Daily Chart.
Price has been respecting this trendline and is currently pushing higher towards the 85 whole level in price that has acted as previous resistance. We are very overextended on this pair, with AUD strength and JPY weakness across the board for months.
Lets see what happens on this pair if we hit the 85 level!
IBM overextended on monthly Bollinger Bands and hitting trend line resistance. If this plays out similar to history I'm expecting a 20% drop within the next 200 days and about 40% drop in the next 2-3 years. Fundamentals also looking weak with declining revenues, lower margins, and burning cash. Cleary a breakout that holds to the upside will negate this bear...
If you draw a trend line on top of the price candlesticks, you get the upper level of the channel, which seems to be overextended.
This has not meant a strong reversal necessarily, but more of a consolidation period.
Interesting to note:
- the 50sma has been an important level for some time
- the lower Bollinger Band has also acted as a potential support
Reasons to sell
Overextension of the RSI on the 4hr
Bearish DIV on 1hr and 2hr
Last time we saw a move like this was 04 Nov 2020 with a 20% correction happening
Strong resistance at $6
Head and shoulders still intact (but subject to change as we are in a bull run and this is a bearish pattern) low success rate in bull runs
Could see price revisit $4.80
In the monthly we have a price that is over extended. The price is currently rejecting a supply area. As well we have a over extended W formation, so we can expect the price to complete the pattern with a rejection to the w previous leg. if we take fibonacci from low to high we can see that the fibonacci .618 level is align perfectly with estructure. We just have...
LGIH has been on a great run over the past 2 weeks. I love this company in the long term, but I see a shorter term pullback coming as soon as next week simply because it has had 11 consecutive green candles on the daily, and the there is now a divergence in the current trend and the daily volume. I'm betting on a fall to at least $120 before April. BUT Only Time Will Tell
We can expect the price to come down Because we have an over extended W formation. If we take the fibonacci on the impulse we have a confluence of structure on the previous leg of extended W formation. We could expect a .5 fibonacci retracement . If you want to take an entry make sure you follow the rules of your strategy. For a better entry use lower time frames
Ethereum has an extended run up with no corrective wave.
Ascending wedge forming with price contracting, logically there should be a break to the downside from here - I have marked the highest level of resistance.
I will set a pending order here (risking 1-3%) and I will just hold this position for years. I think Crypto assets, like the S&P500, will just...
The Federal Reserve note is dying. BTC is the Harbinger. Price action is violently bullish. Any fundamental downside compared to the dollar? No. BTC has a finite float, the float of the dollar is infinite. To use a stock market analogy, the dollar has unlimited Authorized shares, BTC has limited authorized shares. It's just a matter of time
Update to our long term S&P analysis.
Check the link below:
Hello traders and analysts,
Here is update to our weekly outlook provided April 24th and July 22
judging by the closeness of our results so far - we are pretty much on track to our prediction.
We are already short on this and will hold our sells in conjunctions with longs and close out longs as price...
Banknifty Monthy - Banking Index held its previous month low and also surpassed the previous month high and I am hoping it be closing above the previous month high tomorrow, and if it does and it is going to be a very good monthly closing, indicating likely continuance of the recent up move.
Banknifty Weekly - On Weekly, it formed a Big Bull Candle closed near it...