signs looks toppish at the moment as has been whipping up and down the 200 day moving average for the past 3 months. Could continue to range between 272 - 315 (give or take several points) for another few weeks or even months until it breaks either way. watching 272 which was the support for the past 2 months, each test at this support will bring in less and less...
A break of this trendline was attempted in early April which failed but gave way to a higher low. It is showing strength relative to the overall market. Odds of breaking up has increased. Looking to Long if it breaks above the trendline resistance @ 175.50 with initial stop loss @ 167.5 With market so volatile I would prefer to cut losses fast if trade does not...
LULU was forming an inverted Head & Shoulders (a potential sign of trend reversal), which eventually broke up strongly upon Earnings Release. I would classify the gap that accompanied this breakup as a "breakaway" gap (gap that occurs at the beginning of a trend change, usually signifying the new trend has some room to move). However it soon hit into a...
After bouncing off it's low on 24 Feb, the stock has been consolidating sideways between 238 to 239 for the past 1 month. There was one attempt to breakup on 31 Mar which did not follow through. However it looks like it could attempt another breakup soon. Long if it breaks above 239 again with tight initial stop loss slightly below last Friday's candle low at...
Breakup looks imminent after a 3 month consolidation. A strong bullish bar that broke up slightly on 6 April followed by 2 inside bars (potentially bullish) retesting the neckline. If trade goes our way (ie trend higher) leading to earnings, I would likely take most of the profits off before earnings. Just my 2 cents and not a trade advice. Kindly do your own...
A downtrend that had reverted to forming a base in the past 2.5 months with "neckline" at 85.50 +/-. There was a strong gap of abt 10% on 28 March on huge volume which hit right into the horizontal resistence around 85.50 and experiencing some pullback since. As this is likely a "breakaway gap" (a strong gap that occurs at the begining of a trend reversal), the...
Entered short at 88 with initial stop loss @ 92.50. Near term target of 81.50 (38.2% fib retracemnt of the major trend up from Mar 2020's covid low to it's top in Nov 2021. Should stock continues lower, then possibly next targrt @ 71 (50% fib retracement as well at pre-covid high in Feb 2020) Disclaimer: This is just my own analysis and opinion for discussion...
This recent rebound in CRM could have momentum for a sustainable swing up with a confluence of the following technical factors: 1. mini Adam & Even bullish pattern locking in the near term bottom 2. Tested a longer term support zone (apparent on weekly chart) 3. Formation of a strong bullish engulfing weekly candle 4. Good RSI strength (>50) Theoretical swing...
Time to be careful as there are more technical signs that all is not well: 1. dead cross firmly on the Nasdaq since 28 Feb (impending for SPX) 2. Toppish head and shoulders pattern seen on both 3. no signs of sustainable upward momentum yet (need to see a breakup of the near term downward channel for a start) Hence, do not be too eager to bottom fish and when...
After hitting a high of 42.96 on 4 Feb 2021 (more than a year ago!), WKHS was on a long term decline until recently when it looked like WKHS has finally bottomed out, forming a mini inverted Head & Shoulders pattern and has since broke up decisively above this neckline yesterday. Any near term pullback is likely to be supported at the neckline @ 3.90. And when...
SQ is now formiong a potential inverted Head & SHoulder's formation, a breakup of it's neckline @ 132 could confirm that the trend is reversing to up. When a breakup does happen, a re-test (pullback) of the neckline is not uncommon but as long as it does not breach this level, then the neckline will become the new support, with potential H&S target @ 180 (abt 36%...
Eventually upside break is likely for such a pattern. Rising Relative Strength is looking promising for a breakout soon. Let's see. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk...
DIS formed a mini-double bottom @ 129 and a bullish divergence became apparent between price and RSI. Note that a bullish divergence usually signal an imminent Short- (not Long-) Term trend change, i.e., any rebound from this divergence could be short lived. Bottom fishing here with initial stop loss just below this mini-double bottom. Should the rebound be...
KHC broke out of a 7 month cup formation on good volume, then went back to retest the breakup "neckline" which has proven to be a support so far. The odds are good that it will continue higher to an intial target of around $43.50 where it could face some resistence. Initial stop loss will be just a few ticks below the neckine support @ 38.12 p/s "cup" or "cup...
Broke up into ATH (All-time-high) on 28 Feb on strong volume. Have been forming a bull flag since. Buy the next break up of this bull flag as the momentum remains strong. p/s I may also attempt to buy if it retest the resistence turned support level around 179-179 with a tight stop loss slightly below the support. Theoretical "cup" target is around $221. Let's...
A breakup into all time high (ATH) on high volume is likley to be sustainable. With initial stop loss placed slightly below the breakout level @ 73.50 Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade...
With RSI is strong @ 67 and rising, I am looking to buy the breakup of this bull flag between 34.85 to 35, with initial stop loss just below the low of the last 2 candles. Let's see if it works out. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade...
Broke up on strong volume on 11 Feb then retraced and retested this "resistence turned support" 2 days ago. Appears to hold which provided a second chance to stake at low risk for those who missed the boat on the initial breakup. Keep a tight initial stop loss of about $2 below the support at $50. Disclaimer: TA is about improving our odds of a successful trade...