Technically Speaking SBUX has run into a falling trendline, which is holding the topside for now. I do not typically short stocks, but for a technical short trader, these levels might be interesting. If I was shorting, I would key on $52.50. If that level breaks, 40-42.50 is a downside target.
Short and looking for lower prices Price found sellers at a previous low print on 6/16 around 145.40. I sold with as stop above today's high. My first target is the green arrow at 142.20. If and when it gets there I will decide what to do next. Markets rarely go one way for an extended period of time. This cross has been straight up since 11/9 with one minor...
Technically Speaking Price is coming up on the $36 level. This level has held as support going back to 2009 I don't know if it will hold but the R/R seems to favor a long position IMO. I have not dug into the fundamentals yet, so if you have any insights, please leave a comment.
Technically Speaking You can't see it on the chart but the 2 level has been a good level to sell against in the past. I sold at 1.0170, stop at 1.0215. Initial target is 1.0000. Here is my checklist I go through before taking a trade. Is this trade worth taking? * Where is the R/R right now? Is it obvious? * Is the market trending or ranging in the time...
The R/R seems to favor the long side. The price action seems to favor the long side. I am long at 1.4964 looking for 1.54 My stop is at 1.4825 The R/R is ~ 3/1 With intelligent estimations, we can work to get the rough order of magnitude right, understand the consequences if we’re wrong, and always be sure to never fool ourselves after the fact. That sums up...
Technically Speaking Price is testing support that goes back to April of 2014 around 185ish. Not much support under $180, so a downside target would be a guess. What to do? I am looking to buy at some point, depends if the $180 level holds. I will update this post if and when I buy. If you have any opinions on the fundamentals please leave in the comments.
I have a straight question to you, and would love to hear your answer in comment section. What is technical analysis? Can you define it? Most people think that I am technical trader, but I am not. I have nothing to do with technicals as I don't use them, so what is the definition? I will write what I think about it, and it is only my subjective opinion. You can...
Technically Speaking The cross is holding the 82 level. Good support on the daily is at 80. Next resistance level is 85. What to do? I like buying dips toward the 80 handle, targeting a move toward the 85 level.
I believe we are going to see Eurgbp make a move to the upside towards the 0.92523 level. As you can see we've already had a spike at that level previously in September, the market has pulled back significantly, which i believe is only a breather in preparation for another rally to the upside. Moreover if you look back, you'll see the 0.88285 level acts as a key...
Technically Speaking After breaking through the upper trendline, the cross is holding it nicely on a re-test. The first bit of major resistance I see is near 1.40, over 600 pips away. What to do? The major risk factors are both the Canadian and American payroll reports tomorrow at 7:30 CST. I would hold off taking a position until then. Unless a hard break...
Technically Speaking IBB is approaching support at 240. A break under 240, could see a move toward 200. What to do? I will watch and see what happens at the 240 level. I am looking to buy if it holds. If it breaks, I am looking to buy at the 200 level. Ultimately, I am looking for a move back above 300.
Technically Speaking Resistance at 52 held. That level has not been cleared since October 2015. It looks likely that oil will retest the early August low at ~40.00. W hat to do? I think the top of the range has clearly been established at ~52. If we get to 40, we will see if it holds. For now, that is the range I would look to trade 40-52.
Technically Speaking EUR/USD is coming up on a confluence of resistance at 1.1125 and the 100 DMA. When I refer to confluence, I mean that 2 or more technical levels/indicators that are obvious to everyone. Risk Factors The biggest risk factor is the Non-Farm payroll report on Friday at 7:30 CST. What to do? From these levels, the R/R would seem to favor a...
Technically Speaking Price is right at the 103 level and right above the 100 DMA. I am watching and seeing how price reacts around these levels. Anything under the hourly time frame is noise in my opinion. Risk Factors Important economic reports to end the week. Unemployment claims tom at 7:30 CST. The BIG ONE- Non-Farm payroll report Friday at 7:30 CST. ...
Technically Speaking The cross held the rising support level ~.97. The range seems to be 9950-9700. What to do? I took a short position off this morning after the 97 level held. I am not looking to put a position on until after NFP on Friday.
Technically Speaking Demand seems to be strong around the $22 level. Good supply comes in at $30 What to do? The R/R favors long a position, in my view, stopping out below $20. I would look to hold for a break-up through $30.
Technically Speaking LULU is holding the pivot area of 55ish, so far, the week is not out yet. A pretty clear range looks to be forming b/w 55-80 level, assuming the 55 level holds. Fundamentals Here is a summary of the company. What to do? Bit of a tough one for me. The R/R seems to favor the long side, but I think the bigger level and tougher one to...
Technically Speaking Price is testing the 2013 low prints around $10. The first level of resistance is near the $30 level. The R/R favors the long side, in my view. I would exit on a move under $8.