I am giving this a try. The chart kinda says it all. I am looking for T1 to get reached, but will likely take it all off, if that happens. SL for me occurs on a break of the green line.
AMEX:SPY breaking out of the falling wedge yesterday to finally make a higher high on the daily after 6 days of selling. I'm confident this is rend change as the VOLD ratio was trending at 3.5 all day, indicating that 3.5 times as much volume was flowing into up stocks as down stocks. ADD was pinned near +1800, indicating that 1.8K stocks was trending up. And...
AMEX:SPY - gapping down from a resilient Friday session on lower vol but QQQs showing relative weakness in the morning as economic data including a hot nonfarm payrolls is signaling more potential for future rate hikes . SPY is still in the upward channel for the march 13 lows. 409 is the key level where it needs to hold to see future upside today.
Not seeing an...
Short (Entry Price) below the black line and exit (Stop Loss) above the red line. Can take profit at the suggested Target Price.
Entry Price: $85.55
Target Price: $82.93
Stop Loss: $88.17
Short (Entry Price) below the black line and exit (Stop Loss) above the red line. Can take profit at the suggested Target Price.
Entry Price: $84.28
Target Price: $82.85
Stop Loss: $86.67
* Excellent earnings
* Strong up trend in the long term
* High 3-month relative strength of 2.61 in the Tech sector
* High 50 day U/D ratio of 2.11
* Breaking out of a 3.31% range
* During the consolidation the volume did dry up and as it started breaking out the volume picked up.
Trade Idea:
* You can enter now as the price is just breaking out of the tight...
Let's crack open this LITE and do some quick analysis. ( PLEASE READ ALL INFO PROVIDWED BEFORE COMMENTING OR INVESTING THIS IS A MAN NOT A TRAINED PROFFESIONAL).
Likes: Almost everything however it scares me with the progress it has mad with minor resistance on certain pivotal moments for the company. Just look at this history... ( i like to add angle...
#LITE, Lumentum Holdings Inc. Everything on the screen, from the features of the technical analysis, here is the fact that the paper had 2 resistance levels (the area of two yellow circles), so it was required to wait for the breakdown of both resistance levels, this is a strictly mandatory condition in such cases. I foresee that it will go to the goals like...
LITE finally broke the weekly resistance level of 96.5 last week on good volume and now it is consolidating near resistance. Watching the 99/100 level break next week for the continuation.
LITE is try to form a cup and handle as well if it forms a handle long entry would be a nudge over the yearly high.
The cup high minus the low gives you cup depth. 96.74 minus 69.15 = 27.59. Take this number and multiply it by 0.38, 0.62 and 0.79 to get targets one. Add it to your long entry level. Under the handle low, when a handle forms it would be a good...
LITE is forming a nice cup and handle pattern and has regained the fib level of 0.5 and successfully tested it. If there is enough buying pressure to reclaim the .61 fib level, it would mean it would enter back into the prime trend line from march.
Upside is 90.86
downside is 93.16
First ever post. any feedback is much appreciated as I am trying to learn....
