BrokenTypewriter

BrokenTypewriter

Not liking the H&S Pattern. My theory is if the stock market goes down, BTC will go down too. Next few weeks until the FOMC meeting will be critical. Chain reaction, no more money printing means rates go up, companies don't buy and stocks go down. Investors are less likely to invest in other asset classes. No more stimmy checks for retail. Not shorting, but 40K...

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Price has retraced all the way back to it's IPO price and converging in a descending wedge. It's put in a double bottom recently with bullish RSI divergence. Now just waiting for a breakout of the wedge and a back test to confirm. Stop loss would be a break below the bottom of the wedge. Coincidently the end of the wedge is when the FOMC meeting is held. Could be...

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Price is converging in a descending wedge. RSI is oversold on the daily. I'm looking for a few things: Red candle close below 127.97 with bullish RSI divergence. A fill of the gap from May 13 '21, which is also the all time low candle that started the last bull rally. I think tech stocks will continue to go lower until the FOMC meeting and then a rally until...

BrokenTypewriter Updated 

First time I've ever seen a stock IPO and immediately form a Head and Shoulders pattern. After breaking the neckline it's come down to the end of it's measured move. It's forming a bullish descending wedge pattern and has bullish divergence on the RSI. Looking to buy as it gets closer to the trendline. Confirmation will be if it breaks the wedge to the upside and...

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Potential rebound. HHC price converging to: 1) Fib retracement at .618 2) Major upward trendline (purple) 3) 200 MA on the daily 4) RSI bottoming. Look for another red candle close below July 8th price and compare RSI for bullish divergence. Hourly RSI does show bullish divergence. 5) Support level at around ~$90 Other indicators show oversold...

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ADM is coming down to the 1st Fib retracement level and it's major trendline from the March 2020 lows. RSI on the Daily is showing bullish divergence and the MACD is starting to curl upwards. This could be a good swing trade. I will buy around 59.72 as the Algos like to take out stop losses just below the trendline. Bearish scenario would be a break below 58.5 and...

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The stock has been correcting fore several weeks as it's closed below the 50SMA and looks like it will come down to it's long term trendline (in purple). ~$274 is a Fib retracement level and should act as support. It also seems to be where the 150SMA is heading. A swing trade could take this back up to ~291.

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BCC has dropped ~28.5% from it's ATH. Lumber was a hot commodity and cooled off, but looks poised to bounce back. BCC has pulled back to it's long term trendline and it's 2nd Fib retracement level. It also has support from the 150SMA which looks like support from it's previous corrections. RSI showing bullish divergence. This could be a good swing trade to the...

BrokenTypewriter Updated 

CAT is in an obvious bear market and should head lower after breaking below the 100SMA. So it will continue to head lower. I believe this is was a sell the rumor on the Biden Infrastructure plan to shake out investors who jumped in. I'm targeting the Fib retracement level at 209.12 for a buying opportunity. There is also support from the 150SMA on the daily....

BrokenTypewriter Updated 

XOP has been in a bear market since late March. Bottomed out at 72.35 which is a Fib retracement level. It's been consolidating at 75.50 and has just built a bull flag on the 30min. Indicators are turning bullish (MACD, Stoch, RSI) Confirmation would be a break above the purple trendline. Retest from the top and a bounce upward. Resistance will be the 50 SMA on...

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Every time price hits the top of this channel ETH has corrected. Will history repeat itself? Bearish scenario: Negative divergence on the 4hr RSI and wide divergence on the daily. Inverted hammer on the 4hr. If the next candle close is a lower high, then a reversal is confirmed. Alternative is a new divergent high to tag the top and then a correction. Bullish:...

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XBI had been in a bear market for months. It tested support at 127.50 multiple times. It finally broke out of it's descending trendline yesterday and back tested it today and found support. It should pullback a little from the 20SMA on the daily then head higher. Good opportunity to buy on the pullback. Should hit some resistance around 139.50 which is where the...

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BTC looks like it put a double bottom at 52580 (purple support line) and also is breaking out of it's downward trendline (yellow). It's back tested the trendline and building a bull flag. Next level of resistance should be around 55450 which was a support level. If it can break above the Moving Averages on the daily, BTC will be back in a bull market. Bearish...

BrokenTypewriter Updated 

The current price action in the channel in yellow looks similar to the right shoulder above it. (That too is a large bear flag from the right side of the head) Looks like the QQQs could to take a bigger hit in the near future unless the price can pull above the current channel (in yellow) or on the other side of the downward trendline (in purple). If it does...

BrokenTypewriter Updated 

A Head and Shoulders pattern seems to be forming on the 15min chart. Price needs to break above the upper trendline in purple and the bull is back on or close above the left shoulder to break the pattern. Otherwise we may see more downside.