NASDAQ:PYPL (PayPal) is currently trading at the bottom trendline of a descending wedge, which suggests the possibility of a reversal in the near future. Furthermore, there is a bullish divergence on the MACD indicator, and the RSI is curling up. Here are the upside targets: $60 $64 (strong resistance) $72 $79 Downside risk: $51
NYSE:NKE Nike did a reversal from $88 (see prior post). It is currently trading inside a descending wedge. If the price can break above $98, it can see further upside. Here are the price targets: $107 $110 $114 Downside risk: $88 I am long.
NYSE:STEM is currently quite interesting. If you have the risk appetite, it could present a double bottom reversal trade opportunity. It has been trading within a downtrend channel and recently hit an all-time low at $3.50. If it can break above $5.06, there's potential for it to reach $7.76. Here are the upside targets: $5.06 $7.76 $10.50 Downside risk: $3.50
NASDAQ:JD could see a reversal. It broke out of a descending wedge. RSI exited oversold and MACD did a bullish cross. Upside targets: $33 $38 $41 Downside risk: $27
NYSE:F Uh oh! If Ford tests the $11 area again, I'm not sure it can bounce back this time. The $11 area has been a major support that held for the past six times. Breaking below that support would be a significant setback for the bulls, and the price could potentially drop further to the $9 area.
NASDAQ:AAPL appears to be following a classic trendline check back after its breakout. It is currently forming a flag pattern. If it can break above $180, which is the Point of Control (POC) line, it could potentially reach the $197 area again. On the other hand, the downside risk is $160.
NASDAQ:AMZN broke down from the rising wedge. The full measured move for the breakdown is $113, coincidentally aligning with the 200DMA. Can it reach that level? $121 could provide support and serve as a potential reversal area. 👀
NASDAQ:AMD is trading inside a descending wedge and recently rebounded from the 200DMA, base trendline, and 50% retracement. Currently, it is testing the upper trendline. If it can break out, there is potential for it to reach $120. The direction will likely depend on tomorrow's payroll data, which could lead to either a breakout or a rejection.👀
NASDAQ:QQQ seems poised for an upward move, with tomorrow's non-farm payroll data set to determine its direction. The MACD indicator is currently at a crossroads. It is trading within a descending wedge pattern. If it can maintain support at $353, there's potential for an upward move. However, a break below $353 could lead to a drop to the $330 area.
NYSE:U Unity is interesting again. It is trading inside a descending wedge pattern and currently trading at the bottom trendline. It can see a bounce from that trendline and head towards $35 area. There is a risk that it could fall to $26. Going long at $26 would be safer but there is a chance that it might not get there. Targets: $33 $35 $44 Risk: $26
AMEX:SPY could touch 200 DMA around $419 - $418 and bounce. SPY experience 8% to 9% pullback during this up trend. 200 DMA is about 9% pullback from July High. 👀
CRYPTOCAP:BTC #Bitcoin has been rejected from the 200 DMA (Day Moving Average). It is still in the process of forming the handle of the cup and handle pattern. The MACD and RSI indicators are still trending upward, confirming the current uptrend. A climb above $28,000 (the 200 DMA) would be bullish and could potentially lead to a move back to $31,000, and...
NASDAQ:SOFI what a day! The price overshot a bit below $7.22 today and bounced. $7.22 is critical and needs to hold for the bulls to regain control. I am watching for a potential trendline bounce. If the price can break out of that wedge, it can travel to $9.20 area. There is still risk to the downside around $6.89 area. Keep in mind that a full measured...
NASDAQ:TSLA has broken out of a long-term descending broadening wedge pattern and is currently forming a symmetrical triangle. If the price manages to break out of that triangle, it has the potential to travel a lot further. Bear in mind though, it still needs to overcome the Point Of Control (POC) resistance in the $250 to $270 range. If the price drops below...
NYSE:DIS has been trading within a descending wedge pattern. Both the MACD and RSI indicators are showing bullish divergences, suggesting the possibility of a reversal. If the stock can break above $85, it can see further upside to $100. Upside targets: - $85 - $93 - $100 Risk: - $79
NYSE:SQ underwent consolidation in the same area from 2018 to 2020. It experienced a sharp decline after breaking out of the consolidation range before skyrocketing. It took a total of 81 weeks from the beginning of consolidation to the final plunge below the consolidation range. It then took just 3 weeks to climb back into the range, which is above $55. Fast...
NASDAQ:SOFI came close to $7.22 and then bounced. It is currently at the neckline. The price would need to clear $9.20 to create a new uptrend and invalidate the Head and Shoulders pattern. The MACD is narrowing, and the RSI is curling up. Friday's candle printed a shooting star, suggesting that there are sellers above $8. Currently, it is at a crossroads....
NYSE:PLTR did not break down below the neckline and reversed. If the price can break above $17, it would invalidate the Head and Shoulders pattern, and a new uptrend can emerge. The last candle showed a shooting star, which can indicate that there might be selling pressure above $16. The MACD (Moving Average Convergence Divergence) indicator did experience a...