Here we have a personal favorite of mine in SHOP. SHOP has been on a huge bull run since mid May and has showed signs of being overbought but there are signs of strength at these levels and it has led me to believe there may be gas left in the tank. A move as high as 1600 is possible on a break and hold of 1523. Upside to at least 1510 seems likely this coming...
MCHP has been filling out a pennant since late January. Recently it gapped down below the lower trendline but held the 200 MA nicely and has since rallied back above. Looking for an upswing to the top trendline and a possible breakout.
TRADE IDEAS:
CALLS:
Entry: Break and hold above 148 and 10 MA.
Contract: MCHP 7/23 148c
PT: 153.50, red trendline
Breakout PT...
AMD is coming up on an important week. Lately it has ran to test resistance at 96 and the selling pressure, combined with a small marketwide selloff, caused the stock to break under support at 91.70 and gap down to support at 87.50, off of which we have seen a solid bounce. Good potential on both sides here with a run to all time highs seeming likely, but a...
UBER has of late been tradeing in a bastardized bull pennant/descending wedge down from its feburary highs. Its held descending support and resistance well enough with a break above the downtrend as well as horizontal support at 51.50. I intend to enter calls on a reterst of 51.50 and look for a break of 54.75 and finally 59, past 59 if it can make new highs...
Here you can see LVS was trading on a bit of an incline headed into 2020, then covid happened of course and practically forced a double top at 81 and since then we have seen a lower high and another massive sell off in march followed by another lower high to confirm the trend. The play here is simple, calls if she holds ascending support, puts on a break and hold...
Been waiting on LVS for a while now, looking at a possible multi week mover either way. Here on the 4hr we have a clean cut descending channel looking for a bounce off long term support, I have a feeling we will reach down to test one more time and I wouldnt be surprised if it touches or even breaks a few cents under 51.00. Super simple play, I am bullish on a...
Amazon is at a pivitol point this week, with a massive ~340 point bullish run that stared on 6/7 finally seeing a pullback at the end of the last trading week. Unable to hold over 3500 after testing the 3520s multiple times, AMZN broke through support at 3440 and then confirmed the break after the bounce with a bearish engulfing on the 4hr. This rejection takes...
