This old company struggled to reinvent after the banking debacle destroyed its consumer financing division. Older companies CAN reinvent and start a new life. I'm showing the Weekly Chart first so you can see the support zone below and the strong resistance above, where the stock may head sideways for a time. Around $67 is the high of a completed short-term...
JPMorgan Chase (JPM) reported earnings today for the 4th quarter. There was no surprise for the professionals and for the Dark Pool Buy Side Institutions. They already knew what the numbers would be. Today's candle was not just a bullish engulfing candle. It is what we, at TechniTrader, call a major fundamental REVERSAL candlestick pattern. This is a huge...
The Weekly Chart of AMZN shows that the stock has dropped into a strong support price level with a risk that there could be a Dark Pool Buy Zone here. The share price is now below fundamental values. With a month before AMZN reports earnings, it will be interesting to see how the stock behaves; it will reveal how well AMZN is recovering from the hyper revenues...
This is not actually a bottom starting yet. NIO needs to show some up and down sideways action that holds above the low of 8.40. But it is at strong support level from its IPO sideways pattern from 2018. This is a weekly chart so you can see that long-term support, which is both fundamental and technical. For ALL Electric Vehicle manufacturers, 2023 may...
ROKU is a good example of a high-risk sell short. The HFT gap was reversed the same day. You are looking at a Dark Pool BUY ZONE. Accumulation/Distribution confirms a shift of sentiment even as this stock turns down at a bottoming resistance level which is NORMAL and expected. The company reports earnings for the holiday season in mid February. This makes for a...
NVDA continues to work on its bottom. The Reversal Candlestick in October signaled the end of this stock's correction. The stock has plenty of growth for the future. The red line is the bottom completion level for this chart, a strong resistance level. There's strong point gain potential when the current sideways action breaks out upward. Volume-based...
Weekly Chart of CAT: this is one of the Dow components that is nearing its previous all-time high resistance levels. It is one of the first few Dow 30 stocks to challenge prior all-time high prices. Caterpillar Inc. has been running with momentum that will now pause or stall at this level. Now, watch to see which support level holds as profit-taking...
MSTR would benefit from a stock split. It is pricey for today's market conditions. It is showing improvement in its trend. The resistance above the high range is short-term and moderate. This would more likely be a swing style trade based on the runs and trend. There was a Dark Pool buy zone over the formation of the bottom. This can be a precursor for upside...
A corporate aggressive stance to accelerate Boeing's recovery from the pandemic created buying activity during the index sell down over the past few days. BA is one of the few companies on the Dow moving up while the majority of components were being sold down. This is an example of how quickly a stock can reverse from selling down to resumption of its...
Platforms ahead of earnings is an important pattern to watch for. Platform-building markets develop on the dominance of institutional investors buying quietly with controlled orders via the Dark Pools. NFLX has a classic "quiet accumulation" pattern, also known as a Dark Pool buy zone. These platforms provide strong support for the bottom formation, especially...
Stocks that are reporting earnings in 3 to 4 weeks can be monitored for pre-earnings runs. ESPR had momentum runs recently, as marked by the candlestick patterns within the green rectangles in this chart. A shift of sentiment can be seen in the bottoming pattern with Accumulation/Distribution indicators (the area between the blue rectangles). Often, when...
Positive Divergences are developing in many stocks as they reach strong support levels. NVDA, SYNH and ZM are examples that showed signs of the run down ending as volume indicators diverged upward against the decline. This is an early buy to cover signal for short positions.
Dark Pool buy zones tend to provide strong support for stocks running down. If a stock violates the lows of such support, the rebound tends to come quickly, erasing any sell short profits. This young EV auto manufacturing company is near its IPO price range, which is strong support. The retest of the lows of this bottoming action doesn't show much downside...
As any true trader knows, the inflation rate DID NOT GO UP 8.3%. That is what some retail news outlets claimed "year-over-year," which is plain misinformation. The retail news was designed to trigger a panic dump among the less informed last week. FACT: The rise in inflation started in late 2020, not this year. FACT: The rise in 2021 went to 7%. But the news...
Weekly charts are ideal for evaluating the retest of the lows of the stock market’s bottom attempt which reached a higher high in August. Volume on the weekly scale shows lower activity than in the prior weeks. The lows of June are still not yet reached; that is the level that is being retested currently. Support is strong at the 2020 yearly highs, which is also...
WDAY is showing strength during the retest by the major indexes. It is a NDX component. There are Dark Pool accumulation footprints developing. I'll be teaching this concept tomorrow. The bottom formation will complete when it breaks out above the resistance at $180. Watch for compression at that level. This stock may offer some good swing trades once the...
When this company IPO'd it was the big stock of the year. Alas, there has to be more to a company than a cute name. SNOW had its earnings report late in the season and it gapped up on the news. The gap jumped over resistance, so it is not likely to fill easily. Resistance becomes support for this type of gap. This can suggest that SNOW may be a company beyond...
The Dow is at a technical resistance level with a strong support level beneath the most recent run. When technical lines are very precise, it means most of the trading is technical, from short-term professional traders or longer-term fundamentalists with technical backgrounds. When the smart money is trading, it tends to make the trend more sustainable. At...