ContraryTrader

ContraryTrader

Got rejected at resistance short to fib level 93$.. if it bounce cover, if it falls through stay short till support

ContraryTrader

Top of channel. Overbought on every indicator... 10% pullback expected .. 30$ puts 4/8

ContraryTrader

Bear flag playing out here.. wait for the break in the trend or a reject at the fib area of 193 to go short. Bearish target is 170

ContraryTrader

The most overbought stock in tech right now. They'll push this to 176 , once there look for a pullback to 165 minimum

ContraryTrader

I think the Elliott wave boys would call this a "Bearish crab". I'm calling it a rising wedge. If resistance holds true and we reject Monday we should see a pullback to 447-448. If support holds we could rally back up to 453 one last time before falling... As you can see the volume is drying at this point which means the big money is watching this wedge and they...

ContraryTrader

White lines weekly channel Yellow line - Double top conformation Red line - Bearish target for a double top Yesterday Fed min caused a sell off in tech which erased all of Xmas rally gains. We closed at the bottom of our weekly channel that has held since 2020. Meaning every correction ,sell off, and pullback that we've had the Nasdaq has remained resilient....

ContraryTrader

They really sold it today.. forming a falling wedge here on the 1hr . I'm still bullish that we breakout here. If we close below 390 and dont rally we're headed back to 379

ContraryTrader

Similar to my idea on Visa. Most financial and cyclical stocks trading on the dow jones are overheated and over extended, not to mention the dow jones its self. I think ma will pullback and test fibonacci area at 353. At this point we could either bounce and rally with earning season underway or we could head lower if q1 starts off ugly.

ContraryTrader

Broke out of a symmetrical triangle last week and Consolidated for a few days. That consolidation has led to a flag forming that I think will push it to 246 fibonacci level

ContraryTrader

Head back to primary trendline via H&S. The good thing is the trend is upward. Target should be around 95-100 by late spring

ContraryTrader

My last examine of Boeing was a complete failure. This time around I took more time to try and evaluate all possibilities. BOEING close right up to its year long resistance in addition to 100sma. RSI also has some resistance in this area. Also at the top of its bollingerbands A breakout here would be huge and I think we could push for 226 fibonacci...

ContraryTrader

Cyber security stocks have had an incredible 18months but since Nov OKTA CRWD NET Have been getting dumped by institutions. In 2022 I dont think the bleeding will stop. Zscaler is currently showing a massive H&S here. I think ZSCALER will be 150 by this summer. Set your alerts.

ContraryTrader

Fell out of the channel with rates rising overreaction... I think we rally from here as long as we close above 396. Target is 400 but we could possibly breakout here . Stop loss 21ema

ContraryTrader

Thanks to an inverted H&S and a higher 10yr Visa rallied up to 225 resistance before pulling back. I dont think visa will break above 225 with higher yield movement or company news. At 225 you have 3 resistances 1. 200sma 2.downtrend 3. fibonacci resistance Look for a pull here possibly to 210. Stop loss 227

ContraryTrader

Up 6 straight weeks coming into this resistance. If we break out, long term I think we are headed back to 180. If we reject we could be looking a retrace to that split channel (White line) IBM is heavily influenced by the dow jones movements. If the dow corrects at 37k It will be interesting to see if this can sustain itsself

ContraryTrader

Breakout over downtrend (Whiteline) Around 3420. That downtrend is also a double bottom conformation line. Has some fibonacci resistance at around 3432. As far as entries goes. I like 3420 for an entry using the 21ema as my stop loss. For a conservative entry you could wait for 3432 . Target 3582 but this could very well go back to ATH especially if some...

ContraryTrader

Double bottoms normal always retest the original breakout before heading higher. This retest or pullback is called a handle. I'm providing a link with a visual demonstration for education purposes fxscouts.com We are now forming the handle on the spy that I think will take us back to 470-472 area in...

ContraryTrader

What happens when the Energizer bunny hits a brick wall? We are approaching our wedge top near 37k. What happens to all the stocks that are trading on the dow who have earnings in the next couple of weeks? This will be interesting . I think Q1 might be bloody for some dow names. UNH is one due for a correction