ChemistNate

ChemistNate Updated 

I will be watching this to see how it reacts between 230 and 245. This is a key level according to a bearish channel I've drawn on this daily chart. I am not making a play right now.

ChemistNate

I am currently long other electric car manufacturers (TSLA and RIVN), but not NIO. I am waiting to see if it can break above AND HOLD above this bearish trendline dating back 6 months.

ChemistNate

* Got bid UP in late November, ahead of (then after) a bigger LOSS than expected at Earnings. * Churned for 1 month up here (between $25 and $29) * Finally broke down BELOW support at 25. * "2 down month in force" according to Strat * Technically, it's a pretty strong double top at $29 visible on this daily chart. IF this stock holds BELOW 25, then I would like...

ChemistNate Updated 

Nordstrom is still a profitable company, even if middle-class retail continues to evaporate. It has BIG SUPPORT at this level. Has a tendency to jump up from this level. COUNTERPOINT: No real idea how many people are willing to buy/sell at prices lower than this; sub-14 hasn't been seen since late 2020.

ChemistNate Updated 

* No real thesis except that we're testing a bullish trendline that has functioned as support since June 2022. I've put in a buy order for Apr21'23 12c at 1.10 each IF I get a fill, I'll be very happy (they are currently trading at 1.19 each)

ChemistNate Updated 

* Big support between 125-127 * now reaching previous resistance (135) from November 2022 * It broke through this before (February 2023) but retreated back to support. * Will it rally to a new high or stall out? Honestly I don't know. Would love to hear your comments. NYSE:RY TSX:RY

ChemistNate

Bearish energy right now, for this stock and the Market as a whole. Coming up to a Low-Volume node on Market Profile. Point of control on this is sub-200 (!) I'm watching for continued weakness, and then a fall to 210-ish.

ChemistNate Updated 

* February was an inside month * January it went above previous Q4’s high, but was smacked down * As of March 3, it looks like it was still stuck in a trading range * As of March 13, it's coming back down! Now more than 50% of the way through the previous QUARTER’S candle. * #TheStrat would call this Full TimeFrame Continuity DOWN * Next targets are previous...

ChemistNate Updated 

No thesis here beyond: * I'm bearish on the overall stock market, and * AMEX:XLF seems to be testing the top of a bearish trendline. I am not taking a position on this, but I look forward to seeing if it's down by mid-February.

ChemistNate Updated 

* Failed 2u on quarterly; still time to go outside quarter * Failed 2u on monthly; out of time to go outside, but negative momentum * Clear rejection of bearish trendline on weekly chart. No real support until it falls to 127 (currently 143.66) * Daily chart shows bulls mounted one more challenge to the trendline but that failed even harder. “If markets try to...

ChemistNate Updated 

My highest conviction idea this week is that AMEX:XLB is going to continue falling. * February (monthly) broke above the previous month's high, but then fell. * March, it has continued to retreat. * It has broken down below January and December's lows, next 'target' is November's low, which is 71.27 * Quarterly chart shows a break above previous quarter's high,...

ChemistNate

Late January to Early February : Broke out above bear channel Early March: Retest top of bearish channel Late March: Rebound UP I'll switch to RISK-ON bull if we break above 418.31 (Higher High after bear channel break)

ChemistNate Updated 

NASDAQ:NVDA * after two consecutive down weeks, there was a week of consolidation * Currently 2d-2d-1 on #TheStrat * I am still bearish on semiconductors; we are still in a bearish channel and I think the rally to 187 (December) was just a failed broadening formation. Institutions wanted to squeeze bears into selling their positions by running it up. * Now it’s...

ChemistNate Updated 

TSX:DBM pays a quarterly dividend of 0.14, which is 9.3% yield. It has fallen back to its September 2021 low, after retracing 50% of its bearish leg. It has heavy support (14 weeks worth) at $5.81 Could it fall further than that? Sure, anything can happen. But I think it is unlikely in the next week, as the ex-dividend date is the end of this week. Perhaps...

ChemistNate Updated 

NA.PR.E has broken above its own high from two weeks ago, after consolidation last week. That's a 2-1-2 bullish continuation in #TheStrat Full timeframe continuity as well; UP on the year (and obviously quarter), month (today is the first day of March) and up on the year as well. It did not test last week's low, and the low of its consolidation week wasn't...

ChemistNate Updated 

NASDAQ:NIU has bounced up from its low of $2.57 in October. BUT in early December, it tried to break $6 and failed. Then we had a couple weeks of consolidation. So far this year, we've tried to break above the previous 2-week candle, but it has failed so far. I venture that by the end of January, we'll breach the previous 2W candle's low ($4.62) AND continue...

ChemistNate Updated 

NKE Bearish channel; inside week from Dec 5 to 9, and then outside week from Dec 12 to 16. Today (Dec 19) it broke below last week's low ... this is now the third week in a row of lower-lows. Is it possible that it rallies and goes for a second outside week? Anything is possible, but it is also up against the bearish channel on the upside. There is very little...

ChemistNate Updated 

After 9 consecutive weeks of higher lows, NYSE:PFE has broken down. The chart has been streaky all year: Slow but steady marches downward from January to March, then July to October. Honestly just looks like it's overdue for a fall, maybe hitting 38 by mid-March 2023.