Curling in the demand zone, but yet to reclaim short term moving averages ---
4H showing bearflag; if loses 5.59, likely to end up back down to the bottom of the base at 4.73 and set up potential head and shoulders pattern ---
IF it can break above 60 VMA around 6.50 has a shot at 9.5 +
Takeaway: Price is stuck in a tight range now, no...
Basing above 60 VMA in a flag pattern. Breakout should propel this to 52 easily and potentially 200
Chinese names are front runners of the next bull cycle IMO.
One could buy here with the tight S/L or wait for break and retest.
I like how well the range has been last few weeks. Despite huge sell-off in the growth names, this one has found bids.
Personally, I am not a big fan of microcaps, but this one has my attention because of the business. Insurance names have reported big ERs and look strong. This is a new company trying to carve a niche in that space.
Chart is setting up...
Zoomed out view is starting to show rejection of mid BB, which means price is starting to move away from the median for this timeframe.
Combine that with the ample supply and you have recipe for a disaster.
positives are that price is holding 60 VMA for now. That could change though, as it is barely supporting currently.
Not being a doomsayer, but one...
Last couple of days, price held 60 VMA and formed a nice looking flag.Bid above that level lit fire and price moved in a textbook flag breakout fashion.
Human urge to buy low and sell high is quite counterproductive to how practical trading is...one must buy high and sell higher. That's why key indicators like 50, 100, 200 DMA, MACD crossover or golden cross...
I love this chart not just because how the price is acting, but this I believe provides a template for the other growth names that are beaten up.
Testing 200 DMA ...positive because price is at that key level, but negative because first test rarely gives you breakout++--
Big bearish candle near 200 DMA ---
Any pullback above 130 should get bought up....
Chart symmetry is hard to miss. building well in the demand zone with a big volume to back this move.
[*} With ER next week, I like this to ramp up quickly and possibly test 49 at the VMA.
Pullback and consolidation there above the current levels should ideally set this up for bigger move, but currently in stage-1, so likely to be volatile for a few months.
Ascending triangle pattern on 4H, which positive MACD suggests higher prices could follow.
Downside risk is always but I'd favor this for a run up to 200/204.
I have starter position at 181 with stop loss at 175.
3850 held today, which means selling seems to have subsided and price is finding traction.
VIX also behaved today and seems to indicate bulls making a comeback. Early but needs to be watched carefully.
SNAP news yesterday could have triggered final leg of this downturn, if that's the case, we could see short squeeze in some growth names. Indices will...
Price lost the 11 EMA again, but showing divergence now on daily. If it can claim EMA today, I like this to break to the upside.
Trend is clearly down, so price likely to continue to push lower on any pop, but if you have a long horizon, not a bad spot to open a position with tight stop loss.
I went long at 350 today, 8% stop loss for now.
How quickly market can change...this was one of the weakest names in last month's sell-off and got slaughtered, but now emerging as a leader among the growth names.
Claimed 11 EMA and daily mid BB ++
60VMA overhead will be key spot to watch around 8.3 if it can build below, first target will be 13.
not a position yet, but on watch for long target.
Don't get fooled by the price action in last three days. Price below daily moving averages and it was time for some relief rally that got sold in a jiffy trapping both bulls and bears alike.
Price action on 3D timeframe is similar to 2018 crash. Below 3840, significant downside likely. My target would be 3500.
if it continues to build above 3840, then we...
Candle yet to close, but price seems to reject 60 Day VMA (or 50 SMA if you prefer)
Volume profile has been really constructive, so I wouldn't be quick to short this.
if it can build above 94, still have a good chance for breakout. Short case would be weak action to test the trendline and hard rejection there would set this up for new low.
200 DMA on 3D chart near 3840 should offer solid support could squeeze, but given how intense selling has been, I don't think the bottom in yet. One more R2G capitulation move below 3840 is what I think would take for a real relied rally.
Growth names started selling before the indices did, and now select a few growth names are showing strength, so I'd watch...
Monthly chart is showing nice accumulation at the ATH.
Everything seems to favor a breakout that should last a while.
Keep an open mind...these are golden set ups and offer plenty of time to enter.
Ideal entry is breakout and back-test.