Time will tell but it appears an almost 20-year downtrend/basing period has been broken. The breakout occurred with significant volume which makes it more likely to be genuine. Of course an initial shakeout/head fake could follow (and I may not have the trend line exactly right, tried to place it where there were the most hits, but a few times that resulted in...
SPY had an impressive hold of the 400 level PD, making sure to fake out any early longs in the morning, allowing it to grind higher for the rest of the day. The focus today in FED decision. The fed funds tool is pointing to a 99% chance of a 0.25 point hike coming from the Fed so most attention will be on the comments from Fed Chair Powell on any indication of...
SPY failed at the 404 level yesterday and continued to grind lower, but without a spike in VIX. Still making higher highs and lows so the overall strength is still present, we are just looking for support on the daily. Next key weekly level is 398, then 395.80 - a weekly support and a high vol node. BIDU - new regarding chatbot was sold early on, recovered...
It’s often interesting to find stocks making new highs when the market tanks. Today’s chart focuses on such a name: Harmonic. Notice how the provider of video software advanced in late September and early October as the S&P 500 and Nasdaq-100 hit new 52-week lows. That relative strength followed an Analyst Day on September 15. Heavy volume occurred as prices...
Cup & handle that’s been formed since January. After an insider sell (sept 16) the price dropped a bit, but then after, an increase in volume, and it then broke the resistance line
Early buy within base after seeing a Pocket Pivot develop yesterday crossing both the 10/20 EMA. Stop loss using yesterday's low
In recent days HLIT has consolidated at the 50 MA which appears to act as support as it coincides with prior resistance from the July high and the high open in April. This point of consolidation also acts as a gap fill from the gap up in August. Given the confluence of all these points and that HLIT closed above the 1 Fib level ($9.17), a MACD curling up and an...
You can draw your "yellow" B wave as a WXY, trendfib it, and you double bottomed at equal length. You can count 7 swings. When you examine the trend line touches of structure, it can count complete. If you invested lower down, I would say it would be worthy the gamble of letting run. Notice the "0" level lower down. The stock has been working on this pattern a...
I'll be updating this post with more indicators as to why I'm bullish on Harmonics from a technical standpoint (MACD, EMA, Fib Retracement, Volume, etc...) But on this first chart we see we not only have a very strong MACD but we also have huge upside on the Fib Retracement. When I look to pick my new plays I typically look for EMA 50 crossing above the EMA 9 and...
Just keeping an eye on hlit ascending flag breakout looks like it may want to breakout above $4 soon
sHORT < 4.60 STOP - 4.65 TARGET - 4.26 (SMA100)