About meActive swing trader and investor of 4 years. Purely use technical analysis and risk management to determine entry and exit of every trade. The market is a sweet dance and I love every minute of it!
SNAP just reported earnings and skyrocketed to new highs. It has now reached parabolic levels and has super exceeded its upper bollinger band, to where its not even in the ballpark. This tells me that this is going to sell off and is only going on momentum at the moment from day traders. Typically in SNAP's history it sells off in the other direction if its...
WYNN has consistently tested the 70 level which has acted as significant support. It keeps coming back to that level almost wanting to break beneath it. The buying and demand over 70 is running dry and i believe this will break below in the next couple days. When it does it will have downward momentum due to the strength of that support. I suspect this can...
DKNG had previously broken out of the 44 level and raced higher over the next several weeks after it broke that level. It has now retraced completely all the way back to that previous breakout level. It has also remounted w/a doji hammer which shows reversal signals. I believe this is a good entry now that it has retested and remounted over 44.
SHOP has been testing the 1110 range several times over the past several months. Looking for another test to breakout of that level back to the high of 1145. A breakdown below the moving averages would void this trade.
TWLO is overextended and above 90 on stochastics making it overbought. It is also overextended on the bollinger bands. I'm expecting a snapback within the next day, it may have another positive day before the pullback.
LYFT has tested the 27 range six times, with each test the support level becomes weaker. I am looking for a breakdown to the 25 range as a first target. Earnings is coming up on LYFT, so i'll make sure to be out of trade before they report.
BA has been in consolidation for months. It has finally shown a rebound correction wave, forming a higher low and closing above moving averages, which will now act as support. I'm looking for BA to keep trending along the wave formation back to the 180 range where it will face more resistance.
ZM has recently ran up and then started a consolidation pattern, which is now looking like a flagging formation. I'm looking for this to break through consolidation up to the top of range at $529, or above.
CGC has had 4 days of significant run-ups. Now on its fourth consecutive day, it has ran into resistance and exceeded its bollinger band threshold making it overextended, as well as over bought on stochastics. Looking for a sharp pullback to 18 level.
QRVO has tested the 135 level six times, breaking above that level today. Each test of resistance takes out some of the supply, increasing demand. Six is usually the special number of tests before a breakout occurs. I suspect this to run up to 144.
YETI on the hourly chart is showing bearishness. Price is under the moving averages and is converging downward. On the daily it has also closed red after testing the 13ema. This is a sign a pullback to the low end of the range may take place.
WYNN has tested the support at the $70 mark 11 times. With each test of support makes that range weaker with more supply being taken out. I'm looking for a breakdown to finally take place here and when it does i suspect it'll be high volume to the downside do to the amount of times support was tested.
ETSY is showing a rounding formation upward to the 130-133 area. It has its moving averages converging nicely which will act as support. A break below the moving averages or outside of the rounding pattern would mean an exit will need to be taken.