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.
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"....
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.
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...
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...
Looks like a correction to $30.50 and then I think it'll explode.
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.
I'm looking for an opportunity to buy between 220-225
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.
If support fails then look for an opportunity to buy between $59-61
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.
I think SNOW could retrace Monday up to $272 (maybe 275) and should find support around $243. The next stop down looks like $216-220 if it doesn't.
Tomorrow is an interesting day for PENN. It broke through the 1-hour resistance (in the final hour), but held the Daily resistance line (Blue line). The stock bounced off the 50 MA and quickly moved to retrace 40%. 1. October 23 may see the stock open at the 50MA ($62.50) and run to $59 and recover or 1a. or will work its way down to $56. or 2. Open above and...
A return to the 200 may happen within the next two weeks. We'll hit the 50 MA tomorrow (10/21/20). 100 MA could be by Friday. The 200 MA on Nov. 2... That being said, a contested election OR severe pandemic mania will drive the market to Orange, Red, Or the Harry Dent support. Just a thought... Good luck!
PENN has tested S1 a few times now and I think it'll finally break below. Also, the VIX looks like it could jump to 34 by the end of the week as it broke above resistance today. Trendline, Resistance, and S2 through Friday.
Today's "rally" broke two resistance barriers, but after several failed attempts to stay above $72 it retreated back into a bearish channel. I'm predicting an open on Monday, Oct. 19th between $68.22 - $68.94 and an end of week close between $57.90 and $61.30 before Oct. 23rd. Stimulus Target - $85 Running Triangle Target $66.25 Barrier Triangle Targets...
Ready to pop? Briefly broke through resistance and tomorrow maybe the day. I think the Regeneron / Trump news has kept this stock from jumping, but check out the interview with Moncef Slaoui "Trump's Vaccine Czar says the first vaccine should be submitted for emergency authorization around Thanksgiving". The interview suggests that these vaccines will be RNA...
H&S play and targeting $61.30 - $58.40