Had breakout on Friday. Noticeable volume on the shortened trading day. Don't mind buying around the Friday highs, prefer a small pullback maybe into the $11 area. Stops 2-3% below Friday's low. Market environment is still making me want to realize quick gains, raise stops quickly. Small cap ($500m), growth may be decelerating but still low valuation (6.8 f.p/e)
The trade idea I presented in my previous Tesla post (linked) did not work because price went lower on Thursday and pulled RSI down below 35 (orange rectangle). My initial idea on 16 Nov. was for RSI to move higher from 35 as price rose. Instead RSI fell and stayed below 40 for two days (remember this is a 30m frame), until the green candle in the final Friday...
QQQ broke above a minor neckline @ 284.50 last Friday and looks set to head higher in the coming days towards the 200 day moving average cum trendline resistence around 308-313. The odds of QQQ (NDX) reaching this level has increased as it is now taking the lead among the 3 indices (namely DJI, SPX and NDX). This means traders are now in "Risk-On" mode and piling...
after its recent quarterly results it fell a lot. its a very good stock for the swing trade. i have mentioned its targets and they are good support for those earlier a month ago, i had posted its 5 waves. and this time i have extended it till its IPO PRICE. its a bit sad, that it came down this low. but its good to buy in dip. i am aiming for the targets...
my support got supported by today's price action. already that support was previously was supported to times. this was a bear trap. and now the stock is ready to give a range breakout! have a look at the increasing volume too. RSI IS SHOWING A FALLING WEDGE PATTERN! great time to enter!!
AIT first gapped strongly of a long term sideway consolidatin on 11 Aug (earnngs beat) but soon gave back all the gains as it started another round of consolidation (this time forming a rounded bottom). It is not uncommon to see "false/failed breakup" especially during periods of uncertainties in overall market. What is important is to note the "relative...
The overall US equity market is still having a hard time stabilizing and catching its footing, however, if we examine the major US indices closer we do notice more and more relative strength coming out of the Dow Jones Industrial Average. This past week it never took out its September lows, the MACD momentum oscillator continues to climb aggressively, and on...
Over the past 3.5 months, Huobi Token (HT) has been developing a megaphone pattern, also known as the broadening pattern. The pattern is neither bullish nor bearish, but it hints at a period of heightened volatility as long as HT's price remains trapped inside the megaphone support and resistance levels. HT Megaphone Pattern The megaphone pattern can be...
Elrond (EGLD) has printed a bullish RSI divergence that supports more upside, at least until the next resistance around the $63 level is retested again. Additionally, Elrond is showing relative strength compared to the overall cryptocurrency market. These two technical factors combined offer a short-term bullish outlook for the Elrond price. Bullish RSI...
ETSY is now trading way above it's June's low, which means it has good relative strength compared with the S&P500. Even so, it could still be volatile, having 61.8% since hitting a swing high (B) on 16 Aug. It has been trading in a downward channel (extended "flag") for the past 6 weeks and it looks like an eventual break above this "flag" cold be near . When it...
Primary Chart: Fibonacci Channel and Symmetrical Triangle Title alludes to a well-known excerpt from T.S. Elliot's poem called "The Hollow Men": This is the way the world ends This is the way the world ends This is the way the world ends Not with a bang but a whimper. Setting Aside Bias Temporarily to Allow Greater Flexibility in Analysis Many of my...
If you have been invested in healthcare stocks or ETF's you may want to take profits between now and the end of October. I am keeping an eye on this chart for some good trades. It is a low volume stock with very low options volume, so be very selective with your entry time/place and your option price. Daily trading ranges can be large or small, so give extra...
NZDUSD is in a downtrend according to Ichimoku on multiple timeframes. 1D, 4H, 1H are all lining up for a trend continuation to the downside. Interestingly (and importantly ) we have a really good confirmation in USD strength AND NZD weakness. When you line this up on a currency strength scanner it is easy to see strength and weakness across multiple timeframes....
Retest and dump or wyckoff accumulation and slowly recovery (bear market rally)? We have some clues about the capitulation and the bottom. Everyone is expecting major crash and this can be bullish. Usually the markets are doing the opposites of what herd is thinking. Powerfull charts showing miner capitulations and moving averages can indicate the bottom is...
This might be one of the best long trade setups out there right now. I will post my analysis this evening; I hope in the meantime you can study the chart to see some indicator clues for yourself. *** Strong bullish view is valid only if XBI closes over 86, AAPL closes over 152.60 (ideally 153), and SPX closes over 3915 (ideally 3930). Yes, I want all 3 conditions...
i have drawn some lines on rsi panel, which says- RSI's support and resistance. it does not mean that only price can have support and resistance. RSI is also a relative nature with price, so it can also have such trend line parts. there is a less probabilty of falling more down. my analysis- rsi could take a rest on '45-47', then move upwards, price will take...
Primary Chart: Two Anchored VWAPS from Important Highs and Lows and Fibonacci Levels Have bears been needing more espressos? Looking solely at SBUX's chart and ignoring most other equities and equity indices, one might suspect the indices had been doing well since May 12, 2022. SBUX put in a trading low on that date and has made higher lows ever since then. ...
Look at the daily candle for 13Sep and you would have no idea that U.S. markets tanked on the same day. This is relative strength, and it shows in today's price action as well (see smaller timeframes). There is a recent inverse H&S pattern, shown by the peach zigzag arrow. In order to move higher, buyers must move price over 304-305 (volume shelf) and then...