I am expecting a little retracement after the push today to a new ATH!
Stocks are forming a bull flag at 4432, which appears to be a point of control for the S&P. There is a bull divergence in the Kovach OBV suggesting we may finally see the breakout we have been anticipating for the past few trading days. Stocks are holding a very narrow range, which suggests a breakout is near either way. If we are wrong and stocks break down,...
Hello guys! Welcome to another idea on Stocks. Today we will be analyzing CRWD in a very straightforward way. Let's start with the important elements of the chart: a) The price is inside an ascending channel. That's our macrostructure b) After a top on February 2021, the price could not go through that level again. Until Jun where we had a breakout. c) ...
Hi Guys, today we will share our view on NFLX. We think its an interesting chart due to the massive correction we can observe since July 2020 What is our plan? First of all, we want to observe a breakout. We are not interested in trading inside the current range. The level we will use to confirm the breakout is 600. IF the price reaches that level, we will...
Stocks keep encroaching on the upper bound of the range at 4431. We are observing a clear tendency toward higher levels but an inability to definitively break out from them. We do appear to be witnessing a bull wedge pattern, with a bull divergence in the Kovach OBV, suggesting we are mounting up pressure for a breakout to 4462. If we fail to breakout, we will...
Stocks are showing a clear affinity for the upper bound of the range, at 4431. We are seeing a bull wedge pattern with higher lows contributing to a consolidation of volatility. Additionally, the Kovach OBV is picking up, suggesting a bull divergence. We feel a breakout is imminent and the next target is 4462. If we are wrong, watch for support at the lower...
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Today we will make a 4HS analysis on AAPL. The main structure we will be working with is the Daily Structure. That represents our current limits. So, what can we see here? The price is making an apparently "abcde" pattern above the previous ATH. At the moment, we observe "abcd." "e" is remaining, and it would be great to observe it so we can say with certainty,...
Stocks remain range bound by 4431, but it looks like we are forming a bull wedge with the upper bound just south of this level. Levels from below have been holding for over a week now at 4380, and we are currently seeing higher lows, and consolidating volatility. Price action seems to be consolidating around 4408, which appears to be a POC. The Kovach OBV is...
Stocks are continuing to range. They have held the range between 4380 and 4431 for over a week. As we mentioned yesterday, the S&P 500 found support at the lower bound and has tended back to the upper bound, sitting just a few ticks below the upper bound at 4431. We will see today if stocks can finally muster the strength to break this level and acheive new...
Today, we will speak about the current situation on AMZN - The price has been trading inside a range from September 2020 until July 2021 where we observed a Breakout. -Currently, we can see that the price re-entered the broken range. What can we expect from here? KEY IDEAS: -From a technical perspective, it's extremely common that after daily breakouts...
Stocks are continuing to range in their sideways corrective pattern. The S&P has been holding the range between 4380 and 4431 for over a week now. We rejected the upper bound yesterday, as we anticipated, which would have made for a nice mean reversion trade. Indeed, the S&P retraced the entire range, finding support at the lower bound. It is currently testing...
Stocks have gained strength and are currently hugging highs. We seem to be facing some resistance just under our level at 4431. We have been seeing a sideways corrective pattern for over a week, so perhaps it is time for stocks to make another move. Watch for support at 4408 and 4389 if we reject current levels. Our next target remains 4462 if we are able to...
Why are corrective patterns relevant? Because this way, we can define a clear idea between "a structure is ready to think about breakouts" or "the structure is not finished yet to think about a breakout." This concept was developed by Ralph Nelson Elliott, the father of the Wave Principle. He defined that corrective movements (sideways situation) can take 4...
Stocks rallied yesterday hitting our profit target to the tick before retracing back to the bottom of the range. The S&P seems to be in a sideways corrective pattern at the moment, finding good support at the bottom of the range at 4380. The Kovach OBV has dropped notably, so we will see at open if we have enough steam to hold the range. If so, expect a...
Today we want to share our conclusions about the resolution of huge corrective patterns on BABA. One of the key aspects of Technical Analysis is to take advantage of anomalies in historical data; in other words, take advantage of situations that present some degree of repetitiveness to create a probabilistic scenario in our favor, where risking our money is...
The S&P 500 continues to range in a sideways corrective pattern. After its recovery from the dip and making new highs, this is a perfectly reasonable behavior and suggests that stocks may be gearing up for another breakout. We have held a very narrow range between 4389 and 4410. The more constrained the volatility in stocks, the more likely we are to see a...