Otradehouse

Otradehouse

My previous price target of $631 has been reached, and price bounced a bit more than I thought it might. Which is fine, as that’s where 200 and 50 day moving averages sit, hence market gets excited thinking it found strong support. I believe it’s a temporary support. It will be broken, and I am still expecting $573 price level to be reached. Stock could go lower,...

Otradehouse

$655 minimum price target reached as H&S formation on daily chart has resolved (analysis in my prior post), I am watching $520 level as a next possible support (200 weekly MA).

Otradehouse

AAPL keeps printing bulling candles, but something about this move feels very unnatural. Buying few puts here. Price targeted of $130, should be reached within a week. Would not be surprised if it’s just a vertical drop. If I am wrong, will lose most of premium paid.

Otradehouse

There is technical support at around $631 where 50 and 200 daily moving averages cross. The whole market is watching it, and I don’t see how price doesn’t reach that area. I will go step further and say $631 price level will not hold and stock will go past it with relatively minimal resistance, and should find support around $570. Mid term (under 12 months)...

Otradehouse

Amazon is trying to print new ATH after almost a year of sideways consolidation. I posted another analysis on hourly chart of how AMZN could potentially have false break out here. What’s very interesting that Apple is also trying to test ATHs today after 10 months of essentially sideways move, but most of the market is not participating, all other areas of the...

Otradehouse

Apple printed very bullish candle on Friday and opened higher today. In my past analysis I was expecting either H&S or a channel formation to play out with biases towards H&S. Chances of H&S are becoming smaller, and would be completely invalidated it if price closed above $145 on weekly chart. Its almost a lock that price will try to test ATH of $145 and...

Otradehouse

After strong rally of 260% since 2020 lows, weekly chart is now flashing negative divergence with PPO since May 3rd. Since then volumes have been declining as price still climbing. PPO trend line have been broken. Current price trend line didn’t break yet, but when it breaks it would be final confirmation of price decline. Minimum price target of $1700. This...

Otradehouse

As bearish as monthly or weekly charts look for ETH, 4h chart is flashing a possibility of a bear market rally. Price has been trending with a very tight resistance (yellow line). There is also positive divergence with PPO. I don’t have good price target, but if price breaks that resistance line anything in $2200-$2800 is possible. It’s wide range of a dollar...

Otradehouse

I’m coming back to ETH monthly chart. It clearly shows parabolic advance, where price 10x’d in about 7 months (Nov ‘20- May ‘21). This was accompanied by “crypto to the moon” headlines everywhere in media. Essentially party ended in May. Immediate price target is $1100 (on monthly chart). I’m expecting $300-$400 to be reached at some point. There are still a lot...

Otradehouse

TSLA to JPM Morgan ratio created H&S formation on weekly chart. Neckline have been broken and now ratio bounced up to retest Neckline before making lower lows. It also happens that 50 Weekly MA is around the same zone as the neckline. Ratio minimum target is about 1.5 on weekly chart or 1.35 on daily. It can go lower, but I will reassess it once ratio gets closer...

Otradehouse

JPM should close this week on daily chart at about $150. In the next few weeks I’m expecting price to hit $147, then bounce back to about $156 to create right shoulder of H&S formation. This would signal lower price in the coming months. Minimum price target of $128 once neck of $147 is penetrated to the downside. We can also expect $116 being reached further down...

Otradehouse

Price retraced back to test downwards channel’s upper trend line. As long as it doesn’t penetrate it on daily chart (which I don’t expect), it should go up to $43-45k level. It’s possible it goes up all the way to the neckline (into $50s), but I am not confident of that. Either way it’s a bit dangerous rally, and I don’t have any good analysis on how long it will...

Otradehouse

Amazon tested ATH back in late April after 10 months of trading in a sideways range. Price is trying to breakout to new ATH, which in turn would imply much higher move to the upside. Short story: I think breakout will happen, but most likely will be a bluff. Long story: I expect price will breakout on high volume and very long candle (on 1 or 2 hr chart). I...

Otradehouse

Aapl tried to break out in January from multi month sideways trading range, and failed. Price action leading to the breakout looks awfully similar to recent AMZN price action. Amazon have been almost a year in trading range and is trying to move up, but will it sustain it, or fail? I will be posting 2 hrs chart of Amazon stock with highlighted similarities.

Otradehouse

Wood has been in free fall as of late. It formed head and shoulders formation on a daily chart, which suggests minimum price target of $655. Today price reached 200 daily moving average. We can reasonably expect a bit of a bounce prior to downward trend resuming. I don’t have good price target for the bounce, it could be week or strong. It’s possible we done see a...

Otradehouse

Transportation segment have been printing lower lows since early May as SPY still slowly going up. Typically transportation segment is leading indicator of overall economic activity. Immediate price support is on 200 MA, around $253. I’m watching closely how SPY and IYT will behave next few weeks.

Otradehouse

Price tried retesting lows of original drop (around $30k), but never actually reached there. Instead it’s rebounding slowly, and looks like we should see further rebound. 200 day MA is minimum price target (currently around $42k), but can go as far as retesting neck if the H&S formation (low 50s K). I am not sure how long this rebound will take, but after that I’m...

Otradehouse

Since fall of 2020 financials sector has been one of the leading drivers behind SPY run. JPM one of top stocks in finance sector has been on a tear as well. In Nov price finally broke multi year long resistance around $117. Typically violated resistance levels are retested and act as a support. Worth noting 200 weekly MA is getting close to that level. Will...