On a long time frame, we have a “three little Indian” pattern consisting of 3 peaks and 3 rivers. Expect accelerated selling once we return to the 2nd peak high buy institutions
From $3000 - $3047.38 (The 2008 Financial Crisis 2.618 Fib Retracement Level) I expect selling pressure to be heavy.
We have already fallen out of the most recent ascending wedge 2 days...
Although the 0.382 Fib has acted nicely as support for GOLD/USD and global economic conditions are looking more uncertain, I'm going to be as patient as Jerome Powell.
The daily and weekly RSI is overbought and I'm awaiting the retest of the 5-Year resistance + cup and handle pattern that GOLD has just busted out of.
First Fib - December 26, 2018 Lows to April 24, 2019 Highs
Second Fib - April 24, 2019 Highs to May 29, 2919 Lows
We can see a very clear neckline @ approx. $174.94. Assuming the width of the shoulders are perfectly symmetrical, we could see a break of the neckline within 28 days, however, Powell's rate cut decision will either accelerate/nullify this process..
Will $TLRY find support at 50% of the height of the descending triangle breakdown?
This looks a lot like $BTC's descending triangle breakdown to the lower $3000, just not as violent and sudden. Really just depends on how far the SPX drops, but I think $30.47 - 34.51 is a reasonable level to find some support. Any thoughts?
Taking a look at the volume profile of $TSLA the last time it was in this trading range, the point of control is breaking and there is significantly weaker volume to the downside. Here is the final two areas of support I would consider buying before Elon could get a margin call (www.reddit.com)....
I've been watching $TEVA for awhile now and finally it is hitting my first buy target.
Both the Daily and Weekly are showing a TD 9, however the daily did break the TD resistance line.
Furthermore, the RSI, CMF, moving averages, stoch, and current bearish candle all point to $TEVA moving lower.
I'm going to enter half of my position size in now and wait for a...
I'm very bullish on $MCK and their 2020 plan. The drug distribution company is selling off due to FDA issuing warnings to all distribution companies for shipping "illegitimate" opioid products. I encourage you all to look at the software side of $MCK's business and the McKesson 2020 plan.
As for the charts, Daily TD 9 from Tone Vay's TD indicator + an inverse...
As you can see on the chart, the 65 min RSI is experiencing some major divergence.
CMF is seeing its first negative pressure since we began the lows. Regardless of the fundamentals in play, i expect to see some sort of pullback and consolidation.
Make no mistake, this market is bullish as hell. However, all eyes will be on China + Q1 earnings which appear to be...
$TTWO broke its upward trendline from it's August 1, 2012 lows. Gaming as a whole will be in decline for awhile due to their lack of creativity and being out of touch with their customer base.
The purple zone is where I expect TTWO to gap fill down. Depending on the fundamentals, I will buy $TTWO in the green zones.
Feedback is always welcome.
A number of friends have brought $TWLO to me, so I thought I'd make a quick chart. I prefer charts with more than 5 years of data for spotting my horizontal levels, therefore if you see a better level I'd appreciate appreciate the feedback.
I'm not ecstatic about the first target, just depends on market sentiment.
As for the bearish divergence, the chart says it...
Here are a few horizontal levels I will be watching. I did enter a small portion of my long at $7.80, however given the current conditions of the sell off I am waiting until $6.94 - $7.26 range to enter again.
The 2nd area is where I will be paying close attention too. If we lose that... well thats bad.
As always, feedback and criticism is always welcome.
I understand that APPL is pretty oversold at the moment, however I can't help but notice the 50 and 100 day MA are about to cross.
I know that a "death cross" is the 50 day crossing the 200 day MA, but is there any relevance to the 50 over the 100?
I'm a novice when it comes to TA and simply wanted the communities input. Thanks!