OptionsRising

OptionsRising Updated 

Now that earnings are done, the technical picture gives reason for BA to return to lower prices. First, price needs to break 10/25 candle, 141.88, to create a bearish engulfing candle that opened near the 100ma. RSI went below 33.33 so I look for it to stall at 60-65 and turn back down.

OptionsRising

It will be interesting to see what happens to CAR and HTZ over the next month. Stock price went up with the post-Covid travel boom and used car price increases, but that bubble has burst. Technically, price has been rangebound for the year, between the yellow dashed lines. Gray ovals mark gaps in price. Moving averages lean bearish by their order, yet there is no...

OptionsRising

Something is going on in CAR and HTZ stocks, something worth watching for a good swing trade. It is strange to see JP Morgan's 231 price raise just one week before earnings. I am reading articles about travel declining, relative to the boom in 2021. Gas price has risen, along with general travel-related costs (food, lodging). I do not know if someone is "playing"...

OptionsRising Updated 

Seems like a late post because price started selling down as I was studying chart. The yellow line is at 224 Yellow arrow marks %K stochastic sell sign

OptionsRising

Please see notes on chart. There is something controlled, artificial, programmed about this selling. Seeing how elevated directional volume is on the sell side (seller exhaustion) there is a trend change coming. there has been 5-7 red candles on 30m chart in some names, and this is not normal human selling behavior. Can't help but wonder if we close higher tomorrow.

OptionsRising Updated 

Price rose Monday morning and is consolidating into lunch. If price continues rising over 221-222 it may move higher based on the hourly indicators. RSI is over 50 and must move higher. Stochastic %D is currently green and rising. I bought one weekly 240 call for 2.38. If price does not move higher before close today, or if option falls to 1.95 stop loss, I will...

OptionsRising

My earlier bullish outlook on this stock has now become more neutral. The dashed yellow line connects closing prices while the solid yellow line connects lows. Based on RSI and stochastic right now, price could move either way, but the 20sma is crossing down below 200 and RSI is under 50. For the time being I lean bearish and watching 30/60m timeframe for a...

OptionsRising

When I bought puts on Monday, I was trading mobile and admittedly my chart reading was incomplete. After I bought weekly puts price started higher Tuesday and spent the day selling off. Note 532 was exactly the high and it was a beautiful day trade even with low volume options. Yellow lines show the megaphone still intact. RSI never crossed 65 during the price...

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OptionsRising

This video provides an explanation of my weekly view of SPY. Even if there are pullbacks or choppy action, will SPY rally up to 390, or even 420? My explanations include more detail for those who are learning to study charts and want to understand how indicators tell a story about price. I also offer a model of analyzing price to see possibilities. Mainly the...

OptionsRising

You can zoom out on daily and look at weekly chart to see price is still near highs. My earlier chart on $XLV and $HUM suggested that this stock will drop when profits are taken from the healthcare sector, when there is a shift in market cycle. Indicators do not confirm a move back to 505 or lower in the short term, but I like the reward to risk in this trade...

OptionsRising Updated 

In the larger context, I see indications of a market rally next week. I do not have one reason but rather it is how I piece together the puzzle pieces of weekly/daily charts, systemic liquidity changes, and more. Yesterday's long green candle created a Heikin Ashi doji and today turns into the first green candle even though price has sold down since open....

OptionsRising

Zoom out to see the last time price was 210-215. There is strong potential for gamma and short covering squeeze with current market and stock conditions. For day trades I use 5/30m timeframe combo. Swing trade only if you can absorb risk, with smaller size and based on 30m chart. As shared on Twitter: $TSLA sold down on news but held 215. Ideal buy zones 210-213,...

OptionsRising Updated 

The description below offers an example of a chart story. When you regularly watch a stock and observe how price and indicators change over time, you can create a story that leads to well-planned and successful trade ideas. Between May and July price stalled and took its time to retest lows. While it did RSI was gradually rising. Eventually this led to a quick...

OptionsRising

Zooming out over years on this monthly chart, you can see OXY has been rangebound after a big price rise. Note price has made a higher high and lower low, and it is trying to stay over the 200sma, so now the question is whether or not the yellow line holds as resistance. White lines mark higher price targets if oil is to become more expensive. On the weekly...

OptionsRising

The 85 level has been on for a while, and you can see recently once it broke, price retested and failed to continue down to the 60's. There is not much stopping price from moving down to the first half 2020 range it was in for almost 4 months (purple bar). RSI is still negative. Stochastic %D still has to finish moving down and round back up, which means more...

OptionsRising Updated 

Many people are wondering when the bottom will be in. Twitter pundits offer various reasons for a short-term rally. While those reasons may be logical and tradeable under normal circumstances, the market has yet to give us any confidence that a near-term bottom is in. Interestingly (or alarmingly) SPX made a bullish reversal open today, only to form a bearish...

OptionsRising

Stock showed relative strength on Tuesday, 27Sep. It has strong analyst ratings and there is some bullish options activity is occurring. Stock can at least head up to yellow line as a first target. Above that on the daily chart you can see 101, 107, and 111 as upside targets. For confirmation I would like to see Stochastic %D move over 80 and RSI go over 70 (and...

OptionsRising Updated 

First on this 30min chart please note the white arrow marking a bullish %K stochastic sign. When %K moves from below 20 to above 80 in 2-3 candles (using custom period settings), it gives a high probability sign that more upside is coming. Often a pullback happens first, and thus far the opening move has reversed down but on lighter volume. There may be a retest...