I like the repeat of this pattern from October. History of structure; RSI checked down/bounced on the bottom of the bull zone; similar break of counter trendline; reclaimed 8 & 21 EMA. I have a position.
Has some trouble breaking out of triangles after run up. I'm thinking a breakdown of the current triangle, pullback to 5.85 supported at previous resistance, brief consolidation and a move up. Has consistency in the RSI bull zone. Offering at $6 earlier this month is behind them now and well capitalized for a while at current burn rate. Market responded positively to it.
I mean... it's gotta cool off sometime right? Divergence on the RSI is clear now. I'm looking for a pull back to about the $850 level. Confirmation during this similar situation in late Sept/early Oct came with a break of the RSI downtrend line. Overall bullish as Revenue accelerates and Gross stays in the 80% territory.
Price broke the triangle today. If price holds today, could reclaim the 8 & 21 EMA today. Strong support at $40. Volume seems...meh. I'm going to wait to buy at the break of the RSI trendline.
Analysis: PLUG never ceases to amaze me. Technically, I think this has more to go. It's set up nicely near the apex of an ascending triangle that has been forming for two weeks. Today's candle showed a hammer formation with buyers stepping up end of day to take back control. However, volume has been tapering lately which is a concern. Either side could step up...
WMT touched the bottom of the 10 month channel while simultaneously finding horizontal support at a previous resistance level. If price continues consolidation, I'll be eyeing the Jan 15 21 $150c. Vol and OI seemed to be focused at that point and priced right.
Coming off of support of the channel line and testing that upper resistance line. The apex of the ascending triangle is close. Further, volume picked up yesterday and RSI curling from bull zone to breakout zone. Heavy eyes on this one!!!
SNAP coiling tight into the apex of the ascending triangle. Solid support along lower trendline and 8 EMA. Breakout could go either way with current market volatility, so playing it safe. My entry will be break of resistance and break of RSI upper trendline. Decent volume but big OI on the 1/15/21 $55c and $60c.
SPCE showing signs of a possible reversal. Gathering/consolidating support along a previous significant resistance level. Volume has typically tapered lower during downtrend which we currently see. High risk play entering right now, I'd like to see more confirmation first before entering (RSI divergence along lows or break of pinbar printed on 11/30. Heavy eyes...
SBUX has done well holding support at the 8 EMA consistently since mid November. Lower trend line still intact, price appears to be compressed into the apex of the triangle. Love the volume spikes with the spinning top on Friday. This is a tug o' war with buyers and sellers. Odds are in buyers favor due to uptrend. Options market leans to the call side as...
Unusual OI and call volume on the the 1/15/21 $15c. Check with your broker but TD showing big spike on 12/16, 12/17 & 12/18. Following its lower trendline, caught horizontal support as well as the support on the 8 EMA. I'd like to see a break on the upper resistance trendline on the RSI before making an entry.
Appears to be in an island reversal. Watching for a breakaway gap from the box. Additionally, it appears the top of the box is a key level of previous support and resistance ($22.90 ish), with swing lows getting higher. My entry will be a gap up from this level with significant volume or after the break of resistance with a pullback to the $22.90 level confirming...
No matter how you trade, this stock has been in Beast Mode all year long!!!
Similar rounded bottom to the one in August/early September. RSI crossed above 50, MACD curling in similar fashion. Previous run went to 36.
RSI Divergence on the highs after all time highs hit today. Possibly loosing some steam. Volume contracting.
MSFT finding support at previous levels of significance. 8/21 220c