Looks like FB will be a put. On the daily, FB is in the sell territory for CCI and STOCH RSI indicators, as well as, a bearish MACD hidden divergence. Not only that, it just bounced off the top BB. While the weekly looks like it should be a call, the monthly looks bearish, which I find very interesting. Lets see how this goes.
Yesturday marked a possible buy signal. The price action is making newer lows, while the MACD is making higher highs, this marks a bullish divergence. Tomorrow should be the confirmation of this signal, if and only if this it closes higher than todays close.
Several of days ago I saw this and I still stand buy it. Of course tomorrow will be the determining point. As long as tomorrow doesn't fall back into the bear flag, we are peachy.
Study item: Macd Divergence
My friend had pointed out a trade idea about AMZN almost completing the right shoulder and I thought that it looks very similar to a chart that I had seen today. Turns out NFLX looks the same. Pretty interesting that they have the same patterns at the same time. Time for PUTS?
One of my friends on discord brought this to my attention (Jesse). Just wanted to share. I was very bullsih on SPY, how ever after seeing this I am not too sure. My reasoning for being bullish is that I saw a bullish Macd divergence in the daily chart, however, that could have easily ran its course even though it has only been 7 trading days from that buy signal....