Still heading up on this last trip.. notice a resistance (White line) that's been keeping it on the lower half of its channel... Green line is tomorrow's 34,672 resistance. good reference for scalping
No coincidence ever since AMC has been getting squeezed all other small cap stocks with high interest have been rallying in sympathy. Will the the squeezes be enough to push past 228?
Forming right shoulder wish should be fully formed by 2nd week of June's. Notice how one says it barely goes up and the next day it barely goes down, that's how you form a shoulder. You would think its consolidation until you look at the bigger picture. I'm thinking Feds announcement of bond tampering mid June will be the catalyst. don't let the 5$ one day low...
No volume at all yesterday. rising wedge shown on 4hour (Same thing on QQQ). There is economic news coming out around 10AM eastern time that could negate this pattern or help fulfill it 1. consumer confidence 2. Home sales Short to gap close then cover.
Look for a rejection around 252. short until gap close at 245. Can see the same wedge in Spy and QQQ 4h charts
Broke out of pennant Friday but Nasdaq spoiled that run entirely. If it wasn't for Boeings breakout I think Friday could have ended red. Closed right below FIB .382 showing a bearish SHOOTING STAR but above breakout (white line). If the Dow opens red or 1st support will be that breakout line at 34080 which coincides with EMA 21 and 2nd support would in...
Posted an earlier chart of a possible long term downtrend (See link) . This is another scenario where we she a short term drop back to 270-260 area then a move and Breakout.
Fib levels are shown. trend lines are yellow. If blnk gets rejected at 36 then wait for a trendline fail as shown the last 2 previous rejects and short. If it breaks through, the first target is 40$ then 44... I'm a little skeptical about being bullish with anything EV related. All of those stocks are heavily shorted
Conformation is a drop below 320
got rejected at channel top / 339 fib resistance. Showing a bear flag (White lines). RSI already Curving over on daily. A look a ove 339 negates this setup.
Did this in lines vs candlestick simply because you can see the flag better. Found support on 100ma Friday. If it opens red expect a trip back to weekly channel bottom. could Wednesday and Thursdays rally been just a dead cat? we'll know if channel bottom holds up. Easiest play here is QQQ shorts until channel support reached. Bitcoin sell of isn't...
Downtrend is obvious , RSI matches path. Grab some June 11 70$ Puts and relax.
Trading in this consolidation range since Jan. Not thinking enough money will come in on a Friday for a breakout.. Right up against resistance on chart and RSI. Short back to support.
Surprise rally today but to put it in perspective of pattern it's all playing out. Bear pennant forming inside rising wedge. The difference between a bull pennant and bear pennant is the initial point of entry into pennant. I placed levels of possible breakouts or breakdowns of pennant in green and red. Yes I know I said this is a bearish pattern but you...
Fell out of rising wedge today, fell below 50ma and bounced of Fib ext .786. Most Rising wedges retrace , and that was what that suckers rally was at the close; Same thing happened with the Nasdaq April 29th (see links). I think we'll test 100ma this week. Draw a trendline on your RSI weekly starting from March 2020 lows, then October, then Feb all the way...
Can't get over that H&S neckline (Yellow line).. Last 10 day build up I highlighted in green is looking like a bear flag. Targets are red lines (Fib). stop loss at 99
The amount of Building permits giving by the U.S government for the month of April is release tomorrow 5/18. That info could be the catalyst if good to help the bull flag breakout. If it does breakout 30 is the target. if there is a rejection , a trip back to the trendline around 24$ is in store
Broke out today on increasing volume. Fib targets are there I green Mac-d golden cross No resistance on RSI