Decam9

Decam9

COIN reports earnings tongith (2/24). Coin has seen a lot of weakness amid crypto regulation news and general market sell offs. It has recently fallen out of a bear flag pattern, it is under all of the moving averages, CB-RSI shows downward momentum, and MACD is crossing under bearish. All of these are makings for further downside. I am not interested in playing...

Decam9

SQ has been in an extremely strong downtrend. It is down nearly 70% from its highs and it has ridden the 10 ema/20 sma down to current levels. It started to form some semblance of support, possibly a falling wedge pattern. With earnings coming up, a large move is expected. I look to the chart for support and resistance levels. On the downside, the continuation...

Decam9 Updated 

CRWD is off a little more than 30% from its highs. After a nearly straight line down, it has found buyers and shown consolidation. We are currently waiting for consolidation to break and provide direction. On the short side, we are looking to short near 210 down to support at 180 with a second target at 170 fib support. The stop on this short would be above 214....

Decam9 Updated 

Richard Wyckoff theorized that one could understand the market and its movement through analysis of supply and demand, which can be ascertained from studying price action, volume, and time. According to Wyckoff, the market moves in cycles. First, there is a period of accumulation followed by a mark up period. Then there is a period of distribution followed by a...

Decam9 Updated 

Submitting the idea that LCID could be running out of steam and has a downside target of $29. Will likely look to short any significant rallies. No trade as of now.

Decam9 Updated 

Earlier this month, I posited the idea that QCOM was trading in a consolidation pattern. The idea was simple, go long on a breakout and short on a break down. The trade triggered to the long side and since then, the stock has retraced. However, I noticed a pattern that I call the "Fake-out-break-out." If there is an actual name for this pattern, please let me...

Decam9 Updated 

A pattern of higher lows and lower highs constitutes consolidation. I am looking for a break of the swing high or swing low to trigger a trade here. Given that the consolidation is so wide, we have a lot of room to work with. Trading above 285 will likely result in higher prices (thinking 315) while trading below 255 will result in lower prices (thinking 215). For...

Decam9 Updated 

QCOM is currently consolidation in a triangle pattern. It has shown the 3 lower peaks pattern which consists of 3 lower highs and 2 lower lows. The pattern eventually breaks down much lower. This pattern can be seen at the top of an uptrend. Conversely, this pattern could set up to break higher. The current trend is up and we are bouncing off of the 20ma. On the...

Decam9 Updated 

Previously, I outlined two possible trades on SQ. Short below 170 to the gap fill or buy the double bottom. If you took the short, you would have made it halfway to your target (the top of the gap fill). After the recent candles, Ive spotted a potential bullish divergence outlined on the chart. That combined with the hammer candle at support leads me to believe...

Decam9 Updated 

NKE tried to consolidate and break higher but has since failed. Consolidation broke to the downside and retested the support on a long wick. I believe this trade is short as long as we are below 166. The target to the downside is the 61.8 retracement level at about 158.

Decam9 Updated 

Square is trading in a very strong downtrend. It is under many of the moving averages and is down nearly 40% from the highs. After SQ's recent move to 170, it bounced and made a lower high at 195. We are now testing that 170 area again. I believe the current chart sets up two possibilities. We could either double bottom or continue lower. On a break below the 170...

Decam9 Updated 

RBLX has consolidated and formed a pattern of higher lows and lower highs (one could also make the case for a bull flag but I like the triangle more). The trade is simple. On the long side, look for a break above 126 to ride the wave to 140 (ATH). On the short side, look for a close below 105 for a short down to about 97. Use a 1to1 risk-reward on either position.

Decam9 Updated 

Square completed the "3 Falling Peaks" pattern down to the 170 level. Since then, it has bounced and gapped up into a consolidation. The consolidation range is between 186 and 196. The trade is to go long above 196 and short below 186. With a 1:1 risk reward ratio, the target would be 205 on the long side and 175 on the downside with stop losses on the break of...

Decam9 Updated 

DKNG has suffered from massive selling. The stock fell from its highs of $65 in September, to about $50. It consolidated for a month in a parallel channel and then broke below. Measuring the downside move from the bearflag/ABC pattern places DKNG at current levels ($35). We are currently sitting at a support level that was created back in October/November of 2020....

Decam9 Updated 

DIS has sold off heavily post earnings. It is understood to be overextended to the downside if RSI reads below 30. The RSI is currently showing a reading of about 24. On the weekly chart, we are resting on the 100ma (~$150). I believe if buyers step in, shorts will begin to cover causing a relief rally. Historically, when DIS has shown an RSI reading below 25 near...

Decam9 Updated 

ROKU has not performed well over the last few weeks. It has been under heavy selling pressure since its last earnings report. I am considering a long position for 2 reasons. First I believe that the stock has sold off to an area of consolidation that may interest some buyers. It is a zone between 218 and 228 (rather large range). Secondly, and more importantly,...

Decam9 Updated 

TWLO is trading in a downtrending channel. After breaking out of this channel, it gaps down. It finds support and begins to consolidate into a bear pennant formation. The pennant broke sending shares lower. We got a nice reversal candle today. This will likely lead to a retest of the consolidation. A short around $300 down to $260 seems possible if trend continues...

Decam9 Updated 

SQ has started to downtrend and recently gave up a crucial level of support at 226. After breaking support, stop losses were triggered and shorts piled on creating a nice sell off to the low 200s. Since then we have seen a doji followed by a continuation candle (at the time of writing). I expect sq to retest the 226 level and to continue moving lower to the pink...