After consolidating for the past 4 months, it is look closer to the breakup soon, hopefully with solid volme to carry it towards 68-70 eventually. Whether it can reach there remains to be seen. Scale out along the way and manage the rest of the position with trailing stops Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This...
Lager trend is still down despite the strong rally during the 1st half of Febuary that brought it all the way up to retest the neckline & 50 day moving average. Near Term suppoat @ 152 coming up but likely to fail. Negate bearish views if it manages to go back above the 50day moving average in the near term. Disclaimer: TA is about improving our odds of a...
EVR formed a bearish Head & Shoulders and 1st started to break the neckline on 20 Jan, however it began a strong shortly after that brought it back above to retest the declining 50day Moving Average. The death cross (50 day MA crossing below the 200 day MA) is now apparent, so are lower highs and lower lows. Last Friday's break of the neckline (again) was on very...
LVS has been forming a base pattern for the last 6 months and with RSI at 60 now, the odds of breaking above the neckline at 45.50 is looking good. Looking to long if it breaks above 45.50. A strong volume breakup will be a good sign that the trend could be sustainable with intial target of around 56.50. Initial stop loss @ 42.50. Disclaimer: TA is about...
Long as and if it breaks above the bull flag @ 124 with intial stop loss below last candle low @ 117.90. I will look to take partial profits @ 139 - 140 and trail the rest of the position up. 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....
I know there are a lot of fear out there now for a possible bear market this year. We had a severe plunge in the US markets that started on 5th Jan till it hit a near term bottom on 24th Jan, chopped around the low for a few days before making a strong rebound that lasted almost a week. Since then the markets has started to loose some grounds again. However it...
This is just for the sake of technical discussion. Not a trade advice. GOOG has formed a Head & Shoulders Pattern, which is bearish if it breakes below the neckline (which happened last Friday on strong volume). The H&S target is around 2280 with initial stop just above it's recent high @ 2270. Disclaimer: TA is about improving our odds of a successful trade...
V is exhibiting signs of rolling over for the longer term: 1. a breakaway gap break below the 200day MA on 27 Oct on high volume (note: breakaway gap usually signify the start of a trend in the direction of the gap) 2. then finally a strong rebound on 1s December that brought it all the way back to the 200d MA but stalled just below 3. then another sell off...
To cut a long story short, I am current erring on the side of bearishness with all 3 indices: DJ, NQ and the S&P500 breaking below the 200 day moving average (MA) last week. The market looks toppish and some technical damage has been done. A short term rebound is possible this week as we are seeing a possible bullish divergence on the RSI. However, I will not...
I guess we can say that Elon's offloading 10% of his shares was in great part responsible for TSLA's plunge of nearly 29% in the recent weeks and it doesn't help that US markets have also been correcting during this period. There are now a confluence of technical factors on Telsa' chart that gave conviction to Telsa's rebound yesterday: Telsa finally hit into a...
PYPL broke down from a messy Head & Shoulders formation of sorts (head-shoulder-head-shoulder) in Oct and had been trending down strongly since. It eventually came down to about 180 on 1st Dec last week, which incidentally was it's H&S target and also a possible horizontal support zone here. However we only see a decisive bounce off this level today, opening with...
UPST had a spectacular run when it broke out of a horizontal resistence zone (158-170) in August, more than doubled in just 2 months before crashing back down to this breakout level. It is probably a good time to nibble with an initial stop loss about $1 below the support zone @ 157. Trail stops upwards should trade goes our way or look to scale at out fib...
SE has plunged 36% from it's peak on 20 Oct and is now back at a mideterm trendline support. I see a bullish divergence building up on it's weekly and with the high volume sell off last week, it is likely that most of the selling is done now. The last 3 candles on the daily is interesting. A doji followed by 2 pinbars, each inching lower towards the trendline...
DJ has been forming a roundish "top" / widening wedge. A sign of sluggish momentum for the past 6 months. It retested the "neckline" at around 3400 last week but once again it began to bounce off this neckline with a bullish divergence. Despite the strong sell off in S&P and NQ last Friday, DJ was pretty much unfazed. I will not get overly concerned about US...
Despite the horrendous sell-off in the past week and all the negative news (omicron variant, bond tapering fear, persistent inflation), the fact remains that NQ's uptrend has not been breached and we are still only in "correction" (and not "bear") territory. Nasdaq is now at an intermediate support, which is: 1. a prior resistence turned support at A 2. 50% fib...
After hitting into a prior ATH (All-Time-High) @ 28 on 16 Nov, MTTR began consolidating within a wide bull flag that would have shaken out the weak bulls. It wasn't until yesterday that it finally broke strongly out of this bull flag to a new ATH on huge volume. A strong trend is now underway (some minor retracements now and then is still to be...
TSM has been stuck in a wide almost parallel wedge since April. Last Friday it closed right at the upper wedge resistence again. Are we going to see a breakup soon or will it just be another round of retracement after hitting into the wedge top? I'm feeling more bullish about it thsi time owing to the series of bullish pennants that had been forming since...
Although U has recovered quite significantly from it's low of $76 in May21, it's recent break into ATH on 10 Nov is quite signifant, backed by strong volume. I am expecting that it will have some way to rise (with near term support @ 174). Any near term retracement towards $174 would be a good opportunity to long. ATH stocks tend to run for longer as they...