RedKTrader

RedKTrader Updated 

The leader is back! This is one of the prettiest charts to look at.. and GOOG is a main component of my portfolio. an interesting observation on super big volume trading days is that most of them recently are associated with days where the price didn't break the prior bar's low .. this is a good sign of accumulation. big money buying in relative short-term...

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I like ONON here and it looks to be setting up nicely - Need price and short term MA's (yellow line is 10SMA and magenta line is 20SMA) to climb again above the 50day SMA (blue line) - and that would be a good entry for a possible new leg up from what may look like a 2nd bull flag. but here's the tip for this post: If you use K-MACD, you can see how extended the...

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Here's an easy chart analysis "hack" to help pick price levels to trade during the (hopefully expected) 2023 market recovery ... .... and ... it's just this, it's a hack - not a prediction and definitely not a trading advice :) In this hack, we make a couple of (bold) assumptions -------------------------------------------------------------------- 1 - that the...

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AAPL this week breaks above the key $155 - $156 resistance level but there are couple of reasons why i would wait for a better entry * Volume this week is low - not a good sign that supports a genuine up-move * MACD and Strength are in divergence with price * Macro / Market: This week's FED rate decision (and the reaction to it) will affect the market -...

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Quick Chart Reading on the QQQ's the QQQ's opened today with a relatively large gap down - later in the day price action is shaping to be what looks like a tight spread - for the optimistic ones (like me), if you really stretch the bull flag, we're still within a bull flag formation from the early Feb highs - a good sign is, the QQQ's seems to want to stay...

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I just posted a note on the power of using Renko charts in preparing for a position - linked to this one. NET (Cloudflare) is on my watchlist for new positions. Had a quick trade on NET around the earnings earlier this month - and i'm now watching the chart for the next trade. would like to share some details showing another example of the power of Renko...

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This is not a chart reading - and i'll keep it super short ... this is just a quick reminder that we have many powerful tools that we can use to enhance our analysis and trading outcomes.. too many that we sometimes forget to use them. The above chart shows a great example of that .. I was going thru the daily analysis and thought i should share this note with...

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PINS may be on the move ... but has to first contend with 2 heavy congestion zones ahead. This chart reading uses MA's, simple VPA (Volume Price Analysis), MACD/Momentum and "built-in" Bar Strength analysis The weekly view is much easier to see given the high volatility on the daily TF .. there's finally some positive sentiment building up on the weekly - the...

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Early Happy New Year 2023 ... Using the slow "down" time to "sharpen the saw" and prep for a strong recovery sometime in 2023 here are some of my top candidates for the 2023 watchlist to keep an eye on. what's common between these names? can you spot the similarities / theme between them? * The blue line is the SMA200 - and all 4 have already recovered above...

RedKTrader Updated 

this is a quick follow up from my previous chart reading using the weekly TF - we hit scenario #2, almost spot-on - market is showing some signs of recovery. we also see some good earnings results that are not (hopefully) being lost back (AMZN, UBER, PINS, even AAPL i consider "good") but - we still not there yet, though if we check the daily chart (below), the...

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Been a while since i posted a chart reading. so here's a fresh one - with a question at the end... cause honestly, i don't know :) This is an interesting view of the NASDAQ - using a monthly chart of the NQ1! - showing the market action since the famous 2008 drop - with an attempt to find some sort of a trend or logic to how the market moved along the...

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Been waiting for this scenario to unfold for couple of weeks now. here's an updated view from my prior MSFT post (linked below) - i'm sorry if it looks too complex with all the on-chart analysis this time, we're zooming in to the 4hr chart as i was curious to compare this move to the prior one, and they seem very similar MSFT dipped below $322 in pre-market...

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Quick chart reading for AAPL, and our possible entry below $150 - $155 is our ideal "buy the dip" level - as shows on the chart - and a repeat of the previous cycle of a 10% upside. was a good trade. the curious thing, this is very similar to the scenario expected from MSFT, that i just posted - also an around ~10% drop from the high - and a similar ascending...

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MSFT quick chart reading and a possible scneario that can provide a nice long entry at around 10% discount from the highs. We're setting up for a repeat of that zigzag trade on MSFT on the ascending channel - if the expected scenario unfolds - bottom fishing season is on :) - need patience. we look at entery between $322 and $310 .. or we can scale in with an...

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just a quick chart reading here - as we see from the last few bars, the market seems to be looking for a reason to slow down and consolidate - back to the 100SMA (dark blue line on the price chart) we have seen this scenario before - in the previous reading (linked below), the market respected both the channel and the 100SMA and reversed from there - after we...

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This post is dedicated to exploring and reviewing key concepts specific to configuring technical indicators - these concepts may be obvious to those who have been doing charting and technical analysis for a long time, but hopefully useful to some who are new to charting and the world of technical indicators. Also once we are familiar with these concepts, we are...

RedKTrader Updated 

Q3 Earning season is approaching fast Background: The earnings covered call volatility play ------------------------------------------------------------------ one of the easy earning plays if you hold a portfolio of stocks (or if you're a fan of the wheeling strategy) is to sell Covered Call (CC) right before the earnings announcement - when the volatility is...

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This is a quick chart reading for MSFT that shows a possible scenario for calendar Q1 2022 using the weekly chart - The key assumption here is that MSFT will continue to maintain the same ascending channel that's in place for the last 3-4 years (excluding the COVID effect between Feb-April 2020) - there are 3 price levels to note: $330, $345 and $375 -- Target...