Bears are looking for downside fuel to prove that these last few weeks were a bear mkt rally. And if NVDA misses it is safe to say they will punish those that chased it up. For now it is approaching a long term down trend high but is supported by the anchored vwap from the June swing low. No position but watching closely to see if it sets the tone.
ZM broke its rising line of higher lows this past week as if it is selling in anticipation of earnings. A number of overhead resistance levels to contend with. But I think it will live below the 135ish area for quite some time.
Fundamentally we all know that RIVN was overvalued from day one and was in many ways a poster child for the growth at all costs movement of 2020/21. However, after shedding 80% of its value perhaps it is finding some interest. Like most growth names it has picked up in recent weeks but still faces overhead supply on any large bull run.
All that said I have...
RBLX decline was fast and brutal. but like many names it has based and turned higher. I have no position and will stay that way until earnings are released. A break of the orange line is needed for me to have upside conviction.
COIN managed a nice pop on its somewhat odd news if a partnership with Blackrock. But let’s be honest, if it doesn’t gain earnings momentum and take the overhead resistance it will find itself back below $80 in a hurry. Lots of overhead supply and weakening fundamentals are a dangerous combination in this market.
the inability of NVAX to properly capitalize on the covid vaccine is a sign of a poorly managed company. was the rise from near penny status exceptional? of course. was the following wealth destruction of epic proportions? sure was.
endless upset longs continue to exit as all good news acts as a selling event. this will be a ride back to single digits for a...
UPST has started to find a bid the last few days but the road ahead is filled with heavy bags. If the market continues higher the gap fill overhead is a decent target. Beyond that however UPST will run into near endless supply of trapped longs who jumped in on the growth mania. New money may enter with earnings this week but the slightest hint of problems and...
NIO continues to hold the June swing low anchored VWAP. But long term the downtrend continues to be the dominant theme, especially as SEC China pressure continues.
the thing i find most striking a bout $GME over the last 5 months is that all of the heavy volume was done b\w $11 and $65ish... just something to keep in mind when looking at support.
TSLA filled the overhead gap perfectly. the setup is looking short to me, especially given the news out of TX. 4 hours to put out a car fire is beyond normal and raises really safety concerns.
can’t ignore the gap in the 400’s...
woof. good luck to longs. support pounded over multiple weeks finally gives way on a short report. dropped into the volume void. no business done there so an auction to $20 seems likely.
virtually all post deal SPACs with no revenue are reverting to $10 area so $20 may be a gift.
after a day and a half of rough sledding these are the key levels i saw large order flow. 30 minute chart with little data to work with. but i think this ticker will get a lot of action in coming weeks/months so worth keeping an updated chart.
i lean bearish on valuation, poor price action and over bullish retail sentiment.
I am no TSLA fanboy but I do like the stock as a trading vehicle. Massively overvalued? Of course. Huge trading opportunity? 100%.
The 685-690 area has been blocked by a large seller in recent weeks. Today again attempts to break through it were stuffed. But if it does give way the gap around 775 looks like a decent target.
CLOV news and high short float has people calling for a reclaim of highs. But these key levels need to give way first. Many bag holders overhead so I expect it won’t be easy. However the volume POC was traded thru today showing that buyers are serious.
