Since end of Jan '22, $SI has made higher highs against $SPX lower lows, and has found support at the relative strength uptrend against $BTC.
$SI narrowly reclaimed its 200 SMA after a double bottom at the major $100 level earlier this week.
Buyers have kept the stock sideways/up in a pretty violent market,
I think momentum is to the upside and any moment of...
-I am watching the current price action closely for a major breakout
-I like the high volume move higher on May 28th followed by a month long tight consolidation
-I am seeing the high growth/most speculative stocks gain momentum (I believe $ONVO fits into that category)
So far $ENPH has maintained its weekly breakout in the midst of a choppy/weak market. For me, weak markets expose the out-performers that go on to lead stocks into new uptrends. Currently $ENPH looks a lot more like the beginning of something than the end. Of course, this is a positive indicator for the whole solar sector and growth stocks as well.
***This is the opposite of financial advice, this is an exercise in pure speculation!***
I would like to throw my hat in the ring of people trying to predict the future of Bitcoin:
The whole idea is based on the 2013 cycle midpoint which featured a consolidation around the middle of the regression curve. Each of the 3 major peaks that led to a prolonged bear...
Many Argentinian stocks are showing descending triangle breakouts. There are many charts that look like this, all in various stages of breakout. No shortage of opportunity.
See for yourself:
ASM is nearing the apex of a symmetrical triangle while holding 10% above its 200 day EMA since January of this year. I see a lack of oversold conditions while the stock is within a consolidation pattern. With precious metals prices resuming their uptrend (or so that is my opinion) the evidence weighs more heavily towards higher prices than lower.
**I am long $ASM**
$SI bottomed a week before $BTC and has since shown impressive strength closing only 1 day below its 200 day EMA before rebounding, Since $SI bottomed on May 12 it is surprisingly up over 40% while $BTC is currently still down 20%.
$SI's price action since May 12 is worth paying attention to: back when $SI peaked 2.17.21, it was foreshadowing a slow down in $BTC,...
Right now is only the 3rd instance of a $28 silver price, each prior occurrence ended with a mid $40s silver price. Not to mention the massive 30 year textbook cup & handle pattern makes me think $44 won't be the top this time. $71 is the next level above it.
$NEM has closed at its highest price since 1987. I have selected 2 fibonacci extensions and the measured move of the bull flag. The red extensions from the first impulse move post-IPO have a history have a long history of marking months long consolidations and decade long tops. For this reason I believe the next fibonacci level $114 is now the most reasonable...
3 technical signals aligning
-The 100% extension from the first swing low from the ATH agrees with the 38.2% retracement of the entire move from March 2020 low to 64900 ATH (this may be referred to as either a 3 wave correction ABC or and AB=CD)
-A TD sequential buy signal will occur on the next candle, this signal triggered a +$10K rally back on 4.25.21
Copying and pasting the parallel ascending channel of the recent consolidation, I found $UNI has continually respected this price range since the beginning of its rally in November. Combining the channels with 2 different sets of fibonacci extensions, you get an interesting look at $UNI price behavior. After trading around the $31-32 fib level while also staying...
Due to its chart history $GFI is a great stock to analyze using fibonacci extensions. These fibonacci extension levels have been price peaks going back 30 years. The current chart resembles the 1999 double bottom and move to the 2.618 extension, what I don't know is whether the 2.168 will be broken on the next rally or if significant consolidation needs to occur.
SNX is finally breaking its downtrend from February and it is showing a very nice curve fit. I have no idea how high its going however the first 2 'major' peaks occurred at the 3rd and 6th fib extension levels, which is why I have highlighted the 9th level as the next target if this growth rate continues.
***I am long $SNX***
With Bitcoin breaking out to new ATHs, I expect $DMGGF will begin its move higher this week. Each prior move higher has ended in the 2.00 - 2.618 extension area. Since the 2.00 was only reached with a wick in this most recent move, I'm looking for the 1.618 as a 'conservative' target to start taking some shares off. Still a potential >250% move higher from the...