DKNG is looking like it is about to break ascending support and run down to the next layer of support around the 54 area. Its testing support for the sixth time and rounding down simultaneously as well as below all moving averages which will act as resistance.
GOOG has broken out and bought up along with the rest of market. The general SPY and QQQ indexs run up relativley quickly over the last several days and are due for a minor pullback. This will also send GOOG to a pullback, back to its most recent breakout levels of 2150. It is overextended on bollinger bands and overbought on stochasitcs.
PINS is on its 5 consecutive run up day. It has met resistance at the 85.50 level, while at the same time being over extended on bollinger band and overbought on stochastics. I wasn't able to post this at time of entry but got 85.3 price, expecting a 2-3 day pullback to average true range where it will meet back up with its moving averages around the 79 area.
NNOX has filled the gap in its chart to the 42.5 level. Now that the gap has been filled, price generally reverses after a gap fill to the next layer of resistance. In this case the next level of resistance would be at the top of the range around the 47.5 area. I break below the support at the 41 level would trigger an exit
OSTK is looking to be a quick 1-2 day play with price rounding down after a slight push up toward moving averages and getting rejected. Looking to short this to the 60-61 level.
ETSY is now about to test the 192 level of support for the 6th time. Each time a level is tested, supply is being taken out increasing likelihood of a breakout. I'm looking for this to breakdown to the 178 level. There is a zone of support between 167-178, which would be a profit taking zone. A break above the moving averages would trigger an exit, as long as...
RIOT has formed a rounding pattern, the top of the rounding formation will meet resistance at the $65 level. It has also posted a higher low and is showing signs of a correction wave pattern, which could take price to $73 range as a secondary target. Best case scenario is to take profits at $65 and look for a re-entry after a pullback off of the 65 resistance,...
DXC has had 5 consecutive green run up days. It had a gap up yesterday and traded today on lower volume. This shows the price action is slowing down and declining while being overextended. Its above its upper bollinger band and beyond 90 on stochastics. This is a criteria for a snapback down towards support at 29.60. If it continues to get bought up beyond...
YETI has posted a higher low in its daily chart. It seems to be forming a rebound correction wave pattern. It has crossed above its moving averages which will act as support. I suspect this will go the next leg higher to the 79 level of resistance to complete the wave.
GRWG is forming a rounding down formation beneath its moving averages. Waited for it to fill the range a bit before entering into this for the downside to 37.5. If it breaks the rounding formation and continues upward toward moving averages then this trade would be exited due to setup being void. Now that some of the range for the day has been filled i think...
CODX is overexended to the downside piercing completely beneath the lower bollinger band. It is also oversold on stochastics showing less than 10. It's on its 5-6 consecutive red day. It got bought up this morning after being down -7% and went green on day briefly. I suspect buying power will come into play and push this back to average true range. There is...
QRVO is coming up on its 6th test of the 185 resistance level. It looks like it will at the very least test this level again and slightly breakout to the 190 level with a full breakout going to 195. Each test of resistance knocks out supply at that level making the breakout more likely. A break beneath the moving averages would void the trade and create an exit
BA has recently pulled back to retest is prior breakout level of 236. It has hit that level today and remounted back above its moving averages, which is a bullish sign that a rally back to recent highs may be in effect. Typically after every breakout from resistance that stock price will pull back to retest that level again, before it continues in an upward...
RTX has just retested is support level of 75. 75 was the previously resistance that was broken out of and rallied to the 80 range. Since then it was come back to retest the 75 which is now support, after retesting that level it has rallied on a good green candle and back above its moving averages. This looks bullish back to the 80-81 range as a retest w/ remount play.
PINS is forming a round down formation. Its underneath all of its moving averages, which will act as resistance driving price further down. Support is at 63 and price looks bearish along with the overall Nasdaq.
REGI gapped down right into resistance this morning after announcing 5 million share common stock offering at 67. Price opened at 66.5 this morning and hasn't looked back, this is a good indicaiton that it will fill the gap in its chart back up to the 75 range. This is a bounce off of 67 to fill the gap at 75.
NVAX gapped down today right into its moving average support. I believe its going to finish its rounding pattern and exceed the highs from yesterday. The 50 sma is at support as well at the 201 mark. I was able to enter at 214, but couldn't post this idea right away. Target is at the top of rounding formation at 245
GOOG has tested the 2100 level six times, with each time taking out extra supply and leaving higher demand for breakout. It is also consolidating in a flagging formation. It is only a matter of time for GOOG to breakout of the range to the 2200 level.