$SPY has been rangebound this past week forming somewhat of a bull flag ultimately stuck between 410 and 416.
Personally, I'm expecting a break of 416 eventually as bears will eventually lose steam bulls look to regain control of the market.
Longs are safe above 416, shorts are safe below 410.
$COIN shares a structure similar to many charts I posted earlier, with the key difference being that there are NO supports below.
A bounce here is highly probable, though if we lose the demand zone we'll likely make a trip down to 150 before moving lower.
To all my friends watching the masters, this company shouldn't be a stranger to you.
Although $ELY is currently in a pretty gnarly downtrend, we're approaching a strong demand zone established back before the Covid crash.
This ticker looks ripe for a reversal, and I'll be eyeing this 20-21.5 zone to load some commons / leaps.
$AMD is at an interesting inflection point right at a demand zone.
I'm expecting us to bounce from here and test 107, before moving up towards the gap at 116. A break below leads us down to 96, and then 87.50.
Regardless of the recent downgrade, this trade favors the upside.
After breaking it's downtrend upon creating new ATLs, $RBLX has bounced aggressively and began to consolidate between two key price levels. ($43 - $53)
We are now currently resting on top of our $43 support level. A bounce from here would allow us to trade this name up to $53 and capture a 25% move, while a break and close below 43 sets us up for a nice short...
$RBLX is stuck between a rock and a hard place here, with the trade favoring the downside.
We're coming up on an overhead resistance at 64.5, while also running into heavy trendline resistance established all the way back in November.
I personally think we reject and visit 60 this week, though there's also a possibility of a double breakout which could lead us...
Based on overnight futures action, we may experience a gap down tomorrow.
The chart for $UPST looks awful with the stock losing many key levels of support. We're currently at our last level of support before huge downside.
If we break through 106.5, it's extremely likely we see 91 over the coming days. Will enter a short in the morning if my thesis plays out.
$BA is currently flirting with a breakout to the top of the channel.
Fakeouts in this name are common, I wouldn't be shocked if we rejected.
Will take calls on a confirmed breakout, puts is we reject towards the bottom of the channel.