I'm a big believer in TSLA, but i'd be closing longs going into the weekend. We are out of the BB, Monday will be a 9, and the chart literally looks like the classic bursting bubble. Maybe it goes to 1600... who knows, but i'd be betting on $450 before we see $900+.
I picked up XOM today for a long term acct, i like the candle structure, we're on a 9 on both 195 and daily charts. We are also on a long term trendline right now, i think this could be a good spot for a bounce. Stop is new lows.
Nice engulfing 9 on the TD, only thing that gives me pause is that we did start red countdown phase. BUT we are at a ton of support on daily/weekly and monthly candles, i'd long over the 9 candle (add once we have green 2 over 1) set a stop loss at the yellow dotted line and raise it as price goes up.
With Jack gone, i think Twtr is getting ready to run, a double by EOY could be in store. Next month there will be a green 2 over 1 on the TD indicator, additionally we are in a countdown phase to 13. Once price clears the solid yellow line we could see a AMD-ish breakout.
I think this is a good setup for at least a relief rally. We are on a 7 of 9 currently on the daily with a nice reversal candle forming. Spy has fallen so far out of the BB it's laughable, plus correcting right into a bunch of chop/previous tops, and over what? Corona... please. I'm buying this ALL DAY LONG!
A short term top could already be in for AMD and if it's not there is a high probability it happens next week. Weekly green 9s have been consistently marking tops (long term or short) in this name. I'm looking to take profits or hedge long term holdings. Possible correction to the $33 area (which is mid BB on weekly),