I can see Lulu filling the gap, doesn't have to fill it entirely but if it does fill, it should rebound. Other scenario is it bounces once again before filling the gap. Tough to time it but there's some bearish momentum after today.
Tough to say which direction the daily chop breaks out of, however my main theory is that we will see a test of both the support and resistance TL's at least once before a breakout of this consolidation. The reason I say this is because we only have two points confirming the TL on both sides so far and it looks like we will consolidate in this pennant for the...
I don't usually get this specific with things like loading zones but I'm taking a chance here. The reason I included it was because I saw some recent chop around that zone, plus the fact it is below a gap makes me think it will be loaded before shooting up. I am waiting for confirmation of bounce off TL.
We saw MS hit ATH in June 2021, previously breaking the high from September 2000. I think there is a good chance we see a new test soon, maybe not tomorrow as Theory 2 shows, but on one of these legs up in this bull channel. I am bearish because it already rejected TL resistance twice forming the double top. We may or may not see a triple top.
I see a bull channel forming here and those are some levels I see being factors in price action. Solid move upwards can follow if we get a bounce off TL.
This is a less obvious one, I try not to over-complicate things which is why I am bullish. Since trading is human psychology I am sticking with the simple bullish play instead of the multi-scenario bearish play of which I only charted one here. The other main one is a bounce off the upper support and re-test breakout.
We just saw $WMT break out today on the same pattern that we could see $HD follow in the coming days. It gapped up then formed a desc. triangle in which it filled the gap and bounced off the support. I'll be watching it closely for potential breakout to the upside then bullish trend channel.
The breakout to the upside of desc. triangle is a healthy setup for a bullish trend channel. We will probably see some dancing around in here if we are lucky... that would mean more day plays.
Following the same pattern in this upward trend channel. It likes to bounce off resistance once or twice then drop all the way to support within days. A gap-down is not out of the equation.
My leading theory is bullish because of the wick on the last candle and the gap up on 7/9. Otherwise there is a bit of room to fall before it gets eaten up.
The reason I like the immediate gap fill as my first theory is because of the bullish wick on the last candle. Otherwise it may be a few days before that gap is filled.
Going off my last tweet about Tesla. This is another one I'm not playing, just going to watch to see how it plays out because I found the repeat intriguing.
This trend channel has been fascinating so far. I think based off today's failure to gap up again, we will see a bounce off support and restart a new leg upwards to resistance. However, this thing is dancing around like a kangaroo right now so we will find out tomorrow. I will note that it is trading on horizontal levels and the last time it acted this way it...
