Alibaba is currently within an ascending triangle pattern, as we have a flat line of resistance around 187, and a rising line of support that has been forming higher-low's each time it has been tested. Price has been consolidating just underneath the flat level of resistance around 187, which to me is another bullish sign. If it breaks out of this pattern to the...
TSLA lost a critical support around $250 following some bad fundamental news, poor EPS, and a variety of other problems. TSLA is currently sitting right around $240; and I'll be watching to see if it can reclaim $250-260 as support again, or if 250-260 will became new resistance now. We broke down from our multi-year rising line of support, and broke down well...
UPS is currently building support on top of old resistance around $112 (which confirms the bullish support and resistance flip), and is consolidating in what looks to be a bull flag-like pattern. We also have a daily golden cross (50 day moving average crossing the 200 day moving average) and we could see the momentum continue to carry this stock higher. R/R is...
ENG is currently retesting a previous resistance zone around 9000-9500 that was the flat line of resistance for an ascending triangle pattern that ENG was in before breaking up above the flat line of resistance and going on a massive run. ENG has since pulled back, and we are now retesting that prior flat line of resistance as new support around 9000-9500. So far,...
Keeping it simple: we have a clear ascending triangle shown in Orange. Might see another touch of the rising support line around 5160 (which also coincides with our horizontal support zone that has been tested twice), and so long as we hold that support again, there is a good shot we will see this break to the upside with a target in the 6000 region. -This is...
REQ is chopping around in what appears to be an accumulation zone between the .618 fib and the .786 fib. Could be a lagging trade opportunity if it follows the path of its peers. Moving average guide (All daily for this post): 50 day moving average in Green. 100 day moving average in Yellow. 200 day moving average in Red. -This is not financial advice....
CGC is currently within a very clean bull-flag pattern. We also have the 100/200 day moving averages right around the bottom of the bull-flag. I will be looking for a break-out above the descending line of resistance, and if we get that with some conviction, we could see CGC run back to previous highs around $55-60. Moving average guide (All daily for this post):...
EA is currently consolidating within a clean bull flag pattern, and could look to break out soon. EA is coming up to the top of the bull-flag, which is in the vicinity of the 200 day moving average, so it will really need some volume and conviction to break through these resistance levels. EA has the 50 day moving average acting as support, along with the bottom...
IWM is currently with a complex inverse head and shoulders pattern, and we are now sitting just below the neckline. It is trading above the 50/100/200 day moving averages, and it looks like a golden cross (50 MA crossing the 200 MA) may occur soon as well. Setup looks good, but it needs to break above the flat line of resistance around $158.60 to get moving. I...
AAPL is currently showing daily bearish divergence, and looks to be a bit over-extended. I am watching the 200 day moving average around $191 and the prior-resistance-turned-support-zone around $185, which would also coincidence with the 50 day moving average as possible area's for the price to retrace to. Moving average guide (All daily for this post): 50 day...
The XLF is currently forming what appears to be a complex inverse head and shoulders pattern. As it sits right now, price is holding between the 50 and 200 day moving averages (50 day acting as support, 200 day acting as resistance) and we could be setting up for a golden cross (50 MA crossing the 200 MA) into an eventual retest of the neckline of this complex...
DIS (Disney) is currently within a weekly ascending triangle pattern. We've tested the flat-line of resistance around 120 three times, and we've tested the rising line of support about six times and buyers have shown up to defend it each and every time. It is now trading above the 50/100/200 weekly moving averages, and it appears it wants to test that flat...
CTL has formed a weekly swing low failure and has also formed weekly bullish divergence. These are generally strong indications of a reversal, More so since they are showing on a weekly time frame. Moving average guide (All Weekly for this post): 50 weekly moving average in Green. 100 weekly moving average in Yellow. 200 weekly moving average in Red. -This...
REQ is chopping around in what appears to be an accumulation zone between the .618 fib and the .886 fib. Could be a lagging trade opportunity if it follows the path of its peers. Moving average guide (All daily for this post): 50 day moving average in Green. 100 day moving average in Yellow. 200 day moving average in Red. -This is not financial advice....
DXY is currently within an ascending triangle pattern, and we are sitting just underneath the flat line of resistance around 97.40. On the flip side, the DXY has tested the rising line of support 5 times and has held it every time, and we now have the 200 day moving average acting in tandem with the rising line of support. I would like to either see a large...
DOCK/BTC got dumped hard on Bitcoin's big move, and it pulled back to a strong support cluster 290. We have the .5 fib at 290, the 200 day moving average at 289, and we should have an S/R flip at this level given how strong of a resistance it was before being broken on DOCK's run up to 435. High risk as Bitcoin is still all over the place and alts could easily...
AT&T (T) is testing the neckline of this complex inverse h&s pattern, which also coincides with the 200 day moving average. If the price can break up from here, we could see T rally to $34-36.10. Personally, I want to see a break-out and retest of the neckline and 200 day moving average as new support (confirming that old resistance did in fact became new support)...
ICX/BTC is currently consolidating on top of old resistance from 760-790 confirming the S/R (support and resistance) flip. We also have the 200 day moving average in Red acting as support right within this S/R flipped zone. In the broader picture, we can see ICX/BTC is forming what appears to be a cup and handle formation, and we are toward the bottom of the...