DaBears1

DaBears1

$74-75 tomorrow looks pretty likely to me, but there should be heavy resistance to move beyond. My guess is a quick retreat to support around $65. If it fails to break $75 then it'll continue into an ABCD correction with the potential trendline and retracement levels marked. Good luck!

DaBears1

Channel Descent, Support Targets, and Price Target Range prediction Current S&P 500 PE Ratio: 40.03 -0.01 (-0.03%) Dot Com Bubble PE Ratio = 43.00 Long Term Mean: 15.88 Long Term Median: 14.84

DaBears1

* Stock is up 1100% this year. * It's trading at 27 times sales (not earnings) * Average price target is $28 and is trading above the high estimate of $61 (low of $9.50) * it isn't run by Elon Musk. $38 price is still generous, but like John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.”

DaBears1

It looks like the end of the 5th Wave, where Wave 1 was extended and 3 & 5 made up .618 - Wave (5) is a contracting ending diagonal and It is bounded by two converging trendlines (red). A swift and sharp reversal usually brings prices at least back to where the diagonal began and usually far further. The reversal usually takes anywhere from one-third to one-half...

DaBears1

Down December... January too?

DaBears1

Down December is looking up for the VIX.

DaBears1

Barring no stimulus is passed and the market doesn't crash then I see it bouncing somewhere between $65 - $66 with resistance at $68, 73, and $76 moving back up. A breakthrough would probably mean $85 as a first target.

DaBears1

OMI is consolidating again with support. Look for an opportunity near or at the 50MA but set a stop loss below the 50 as it may want to move to the redline support before making a move up again.

DaBears1

U.S. just hit 160K new covid cases and there's no sign of slowing down. In fact, it's exponential growth (more than 100%) in November alone. That alone should cause the rally to pause and retreat to support, but the economic data has been promising and DKNG's just raised their guidance with one caveat - "As long as there are no disruptions to sports due to Covid"....

DaBears1

Looks like a barrier triangle as it didn't break through $73 and hold. Also low volume and resistance at 100ma - so without the volume support, I think it needs to break below $60 before moving up.

DaBears1

Once the Euphoria wears off, I think we'll see steady decines for the next several months. * No Vaccine * Contested Election * GOP Lawsuits * New Covid Cases hit 100K today * Rising Covid Cases * Unemployment is running out for Millions of Americans with no stimulus in sight. The price action is mind blowing and I'd predict significant declines over the next...

DaBears1

So far support has held and CODX may still be bullish... However, it was a bullish day on lackluster earnings. Look to see if support holds and we'll see if the stock can break through the 100 MA. After 100 MA it should have smooth sailing to 19+. I have a feeling that a bullish opening will tomorrow the market will runup to the 100 MA and quickly retreat... But...

DaBears1

I'm waiting for earnings to come out... A market close at or below $16.87 will indicate a hard move down. The blue lines are the downtrend support and resistance. The dashed red line is the (potentially) false breakout line and may turn into the downtrend line as it did before.

DaBears1

Too far too fast... Still no vaccine to transport. Bottom out at pre-March drop price ($24) and hope it bounces back to the 200 MA.

DaBears1

Looks like a correction to $30.50 and then I think it'll explode.

DaBears1

I'm looking for an opportunity to buy between 220-225

DaBears1

If support fails then look for an opportunity to buy between $59-61

DaBears1

The combination of a Bearish Downturn, Elevated VIX, COVID, Election Year, Multiple Misses on Earnings, No Stimulus, Potential Contested Election the day after their earnings, and Few Prospects in the coming months... But it still has to close under $16.