So Why did Corbus Pharmaceuticals drop by .63 (or 8.2%) today when it was a universal buy? Why on a day following a promising close (bullish engulfing)? Why at the close of a bullish week? You don’t know …. hmmm …. well neither do I. But this I can tell you; It is still a buy in my book. “The one year price forecast for CRBP stock indicates that the average...
Corbus Pharma has just crossed the 20 day MA and is now crossing the 50 day. It had plenty of momentum at today' close as can be seen by the bullish engulfing candle and the volume. The Macd is fully bullish without the gulf being so wide as to be unsustainable, and the RSI is below 60. All in all here looks to be plenty of room to move up; as much 10% to 12% ...
Not only was the Cup and Handle Pattern that was playing out broken today when the candle dipped below the breakout of the cup line (your stop loss should have been hit) , but the current trend line was broken as well. If you look at the MacD you will see a bearish crossing appearing and the RSI shows BNB to be overbought as well. As a swing trader I often see...
This may seem like a counter=intuitive move, but it may prove a great opportunity to enlarge your position if your already long on the Bull Flag breakout. If I'm wrong here and it keeps goings south, well the Captain is supposed to go down with the ship (he said with a grin). Seriously though it's a risky move; so don't be a sheep and blindly follow. But if your a...
LTC overbought on the 4Hr with confirmation of retracement on the hourly. This is a good one to short with the goal of averaging back in. This will take a little finesse, but hey if your up to it!
All indicators are seemingly bearish at the time of publishing, but I just watched the candle and the volume change from red to green and back on the daily while the candle on the 4H did the same before my very eyes. And wouldn't you know it, the 4 hr candles have been playing a game of jump rope with the SMA just to make it difficult to read. And the RSI on the...
Only time will tell, but a Cup & Handle pattern may form here in the near future. Keep an eye on it; I know I will. BTW who really sang that song, Tom the cat or Al Jolson (no I'm not quite as old as dirt)?
I've noticed a few new followers since I started daily updating BNB. I'm not going to be active for a few days because tomorrow Binance will be upgrading and I'll be out until the 13th replacing my poor decrepit old computer and waiting on the ok to use a new broker account anyway (watch ACB have a field day while I'm out). In any case here is a textbook position...
It finally arrived. Could we have re-entered earlier? Of course (in hindsight which is always 20/20), but waiting for confirmation (the 4 hr closed above the trendline) is a discipline; and, it is one that will save you from making major entry mistakes time and time again. Now go get em!
A Daily Pennant has form and is breaking down instead of up, thus confirming the H&S pattern on the 4 HR. Paintience will win the day here; wait for the bull flag breakout WITH confirmation (a closed candle above the flag). It will be a long, but it isn't yet.
The Daily and the 4 HR show vastly different patterns. Be wise about you re-entry; let the 4 hr work it self out or fizzle out before you long this one again. It will all come together sooner than you think (I think) :)
Yesterday's Pattern is now showing a false breakout, this better reflects where we are currently.
Don't mind the Fibonacci clutter; I'm reading CRYPTOTRADING PRO by Allan T. Norman, and I remember things by writing them down. I thought maybe others would find the little nuggets interesting so I just wrote them on the chart....happy trading. As for BNB watch for the breakout then buy even more back that you had before you hoarder (may take a day or two).
With the moving average and the trendline intersecting; I would expect both to act as support. The bull flag just leads me to believe all the more that we will see it bounce to about $8.15 "if" it acts like it is supposed to. Keep an eye on the volume when it breaks out and look to the hourly candle to confirm that it is breaking out rather than breaking down.
The answer to the question is something I have puzzled about many times, over both stocks and crypto that didn't go where virtually everyone thought it should have. Could Fibonacci retracement be the key? Fibonacci retracement levels are 23.6%, 38.2%, 61.8% and 78.6%. 50% is an unofficial number used by some as well, but IMO it's a useless ratio. I know I'm a...
Watch this candle at closing. You know how to read charts, and you see multiple reasons for caution just like I do (oversold, possible double top , falling volume )....be careful out there; that's a lot of profit to give back! It's better to miss out on a few more bucks than to lose a whole lotta bucks (go ahead, put that Fibonacci retracement tool on it and see)....