With main confluence from MACD , Stochastics, RSI and MTF EMA's, I am expecting a run to 69.28. Momentum looks to be rising on the Daily, but if you look closer on January 26th we see divergence on the MACD indicator (Orange). While price reached a low at that time, MACD has been steadily rising. Price has been driven lower through this time but MACD has been...
Weekly Update! The best time of the week is when you have a clear mind and time to check the TA.
I have seen this movie a couple of times before. One was not so far ago... April 6th. Sharp move down after a breakdown of a bear flag. RSI in extreme levels marked the wave iii of wave 3. Then bear flag again, triangulation of the rsi with inside hidden bearish...
Finally, the price broke down after a few attempts that failed and eventually became bull traps. It was a very complex move to navigate and many times a trader can lose patience...
Now we are on the way to completing wave 5 or C (I have labeled it with both). We may see a retest of the upper wedge line which will be wave (iv) or c. There will find the 2h supply...
Novavax
Short Term - We look to Sell at 48.97 (stop at 53.42)
Prices expected to stall near trend line resistance. Trading volume is increasing. The trend of lower highs is located at 55.90. Preferred trade is to sell into rallies. A break of yesterdays low would confirm bearish momentum.
Our profit targets will be 22.96 and 13.90
Resistance: 50.00 /...
Update from post yesterday - obviously the manufacturing news killed momentum so taking this opportunity to roll to July expiration and add some lower strikes at a discount.
- Chart indicates a symmetrical triangle breakdown into support. DMI suggests accumulation, this will be the spring.
- Expecting yellow path to play out as price trajectory. Forming an...
This is about to go.
I don't have time to explain why just look at order flow. I'll send update later with details.
June 17 55 calls, not financial advice.
Novavax
Short Term - We look to Sell at 54.79 (stop at 58.88)
Prices expected to stall near trend line resistance. Trading volume is increasing. The trend of lower highs is located at 55.90. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit targets will be 41.78 and 38.59
Resistance: 55.90 /...
$NVAX My memorial day homework 😁
Wyckoff Accumulation events + Elliott waves
I have attached my two main theories that are happening together and we are approaching the end of it soon.
For wyckoff, I am expecting a big shakeout to follow. We haven't seen yet a day that has the qualities of a spring. We have only experienced some rallies that turned back quickly...
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COVID is on the rise again. Those companies' stocks are...
Descending triangle break on the daily and now forming a bear flag for a possible leg lower.
Watching the flag break and confirmation.
Another confirmation could be 56.85 price level.
Targets: $50 , 47.93
Not financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
Novavax
Short Term - We look to Sell at 66.01 (stop at 72.46)
Trades with a bearish descending triangle formation. Trading volume is increasing. We look for losses to be extended today. A close below the key support at 68.00 is expected to lead to further selling pressure. Closed below the 20-day EMA.
Our profit targets will be 40.74 and 38.59...
Doomscalling can be fun at the ATH when valuations are through the roof, but are most overlooked when price seems enticing, should be higher *because it was so high earlier*. But that's when the price is the most vulnerable.
From what I see on the 3 Day chart, flag breakdown is in progress.
Downside target is 54, which should find good support.
Be careful if...
Hah... These trend lines are the accumulation of attempts to figure this thing out over the last year. Ridiculous price action but learned to leverage the volatility and play the extremes.
Currently at a relative downside extreme. Also signs of Wyckoff Accumulation similar to the build up when it popped Jan 2021.
Time series 1-month point forecast target is 163,...
