Happy Father's day! Let me know what y'all think.
Hope you like the vid btw I meant overbought not oversold lol.
Open to exchange ideas, teach, and learn new concepts. Happy trading everyone.
Riot entered a bearish trend on April 14 after breaking out of a symmetrical triangle and doesn't look like it's going to break out of this trend next week. There's hard resistance at 26.95$. The last 2 bars are bearish with top wicks and the moving averages crossed over. Sure the RSI is oversold but with 3 failed pushes to the channel resistance and 4 failed...
Failed breakout back into the channel and judging by the bar formation seems like there's heavy momentum carrying the price upward. RSI shows more room for the upside too. I would begin taking profits at 42$.
The bear trend has reversed into a bull trend at the $1.32 pivot. The price action in the channel is interesting. Notice the long wicks at the bottom of the bars in the end. A lot of buyers here that look like they might overwhelm the sellers soon. The channel's stability will be tested at resistance around $1.75-$1.80. Will it break? We'll see but the RSI shows a...
Seems to be at the resistance point in my channel and overbought. It looks like it's going to be a possible 2 point short. Being that the channel had so many pushes in both directions i don't think it's stable enough anymore a new trend might follow. My entry will be $17.70 depending how the bars look and my stop loss would be $18. will update if I take the trade.
Ford looks like it's trying to push out of a bear trend a 4th time but I don't think there will be enough momentum (no catalysts this week and the chip shortage is a problem) to do it. I think a 5th attempt is more than likely after bouncing off the $10.70 level. Entry: $10.70 Stoploss: $10.35 My stoploss's are alerts, what dictates my exit is the bar formation...
Sony has gapped down for the second time!? I can't see this gapping down again and I love that bar I put the arrow next to. It's way oversold and it looks like the selling has climaxed. Entry: $101.80 SL: $101.20 PT: $104
UPS gapped up super hard into a buyer's climax. RSI is overbought. I don't think it will close the gap today but I'm trying to catch the fade. Entry $194.11, SL $195.25, TP $190.
It's the only earnings play I'll do this week. It's premarket, HBO Max is awesome, Netflix subscribers are down (I'm thinking competitors have something to do with that), dividends are great, they may announce a buyback, and they can add speculation with new titles and projects they're working on. The chart is sideways for the most part but I'm liking the close on...
watch the vid let me know what you think.