ZM - Earnings on 11/30 and presents a nice C&H setup here. Neckline 283.45 for breakout and if the low of $269.21 can hold, ZM is setting up for a move towards $306 and eventually $329 for a 5 wave sequence.
ATER - We had a nice reversal into an impulse Wave 1 move from $3.04 -> $19.10 and since then, ATER has pulled back into it's W2 correction within this falling wedge. It is nearing the APEX (Nov 12 but could breakout anytime now). Current resistance is $6.89 and next support at $5.70 then $4.70. Keep an eye on this one as a break above $6.89 can send this...
Needs to close above $30.50 or likely to give us a last pullback towards $25-$26 before this rocket leaves the ship towards $43 and then $55ish within my count.
How we arrived at our $1,200 Price Tag on TSLA. We take the consolidation zone (339pts) and apply it to the breakout above resistance (881). 881 + 339 = $1,220
NIO, great bounce this morning just shy of the 50% retracement level. Watching for this 5 wave sequence to play out.
Strong candle to start the week and looking for this channel to hold throughout this 5 wave sequence. Have shares and took some 06/17/22 30C's
Long term, if the markets do show some weakness, I become a buyer in the $88ish region. The gap in the previous chart was the yellow line ($91.29) and in logscale view 3M chart, we have a rising wedge with main support at $88ISH before potentially pushing higher within this wedge.
As long as they markets continue to grind higher, I think SBUX can push higher towards $111 - $112.50 area where the VPOC and Volume supply is on the daily (short term). I want to see an impulse move in that direction (with volume) that confirms a potential wave 1 reversal. Any weakness in the market and I want to be aware that if we break below our previous low...
I like 11/19/21 or 12/17/21 40P Stop Loss: 41.80 Price Target: $31-$32 Notes: Looking for last C wave down here and daily/weekly EMA's turned red and pointing down.
I like 10/15/21 or 11/19/21 (safer) 100 or 105 Puts Stop Loss: 112.25 Price Target: 94-95 Notes: Still looking for C wave to finish down into green box and back test what was previous resistance at 94.28. I believe this bull flag will break down. We have upper red EMA cloud as well pointing down and AMD is trading underneath 9/20 EMA but has not crossed yet.
AXP - Daily/Weekly H&S setup with weekly EMA cloud turning over to red. MACD cross down. Currently holding the 10/15/21 160P but will be buying the 11/19/21 160P for additional contracts if it decided to bounce higher but remains under stop loss. Entry: Between now and 167.15 SL: Just above 167.15 on daily candle close PT: 131.15 - 140.25
AAPL - H&S break down on the daily with bearish engulfing candle.. Looking to buy the 11/19/21 145P on break below 144.51. Entry: Break below 144.51. SL: 149.45 PT: 134-138
ENTRY: On break below $128 SL: 136.60 PT 1 (trim level: Trim 50-70% here) - $115-$118 PT 2 (Closing position here) $100.75 - $105 Rectangle top and Major Wave 3 hitting 262% extension level. Needs much larger correction here on Wave 4. Most will this is a bull flag and it is, but based on 262% extension level, I favor a pull back here in wave 4 into green...
FB - Waiting for Buybox (green box) on this ABC correction to take shares or leap calls 1+ years out with ATM strike. If FB is able to break above 355.15, I will go long there or wait for buybox below. GL
Looking for Wave 3 to complete (Wave C) within 446.86 / 450.48 / or 456.33 levels. Once we have a confirmed rejection, I will be looking for another pullback in ABC wave fashion. If we fail to hold 439.50 on any pull back, I expect to see 5 waves down to complete Wave Y of this correction wave. Bullish scenario: We complete this 3 wave up with a minor 4 wave...
NIO - Looking for this Wave 2 ABC correction here towards 36ish - 37ish range to finish off this left shoulder of the IH&S. If successful, we should see the next wave up on NIO towards $49.
Had a nice 5 waves down and now looking for three waves up here towards 328ish
We can see that KO has completed 3 major waves and currently in wave 4 correction (Falling Wedge). Still due for a C wave down here towards $51-$52. Daily time frame shows a nice C&H pattern that may end in a false breakot. Be careful!