Rectangle highlights three major types of support: (1) Fib 0.382 (2) Yearly pivot P (3) July 2018 close price. Since today is last day of month and chart is monthly, a close right at top of rectangle would look pretty.
Since my last post of the weekly, price has broken through both the Keltner midline and bottom drawn trendline, and MACD has become definitively negative. The chart looked a lot prettier for longs in my original post, WHICH IS LINKED TO THIS ONE. That said, pivot line P is now clearly serving as support. If this support holds for a consolidation and until MACD...
I like the Keltner and trend line support on the Weekly
- Head & Shoulders complete - Bar supported by P pivot line (barely) - Bar supported by shorter angled line - Bar supported by Bollinger mid line - Clean MACD cross
See linked ideas too for bar version and daily chart
Clean bar chart except for short-term trend line and pivots
Sometimes I like clean area charts
On Balance Volume makes a long position more interesting. My cost is near current price - will be watching OBV.
In after hours, FB just blew through the longer-term Fibonacci level noted in the linked chart drawn a few days ago. See linked chart for full picture.
Here is a short-term view inside of the long-term view in the linked Related Idea.
Here is a short-term view of TSLA inside of the long-term view in the linked idea.