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Historically, SPY pulls back on the daily when it clips the overbought level at 70. We did have a moment back in beginning of January where it ran hard in overbought territory before dropping hard near the end of the month, but for the most part, I expect a pullback to relieve psychological pressure, even if briefly. Might be a good point to buy an options put...
PYPL - With a Jan rally into end
of the month ER on the 30th,
opinions differ on its results;
so many traders believe the price
of a hopeful ER beat has been
priced into the rally, which fell
short of its resistance near 93.
Technically, the price action is
poised for a down trend back
towards historical support near
the upper 78's. A missed ER beat
NFLX - With a powerful bounce off trend line
support at the end of Dec, NFLX rallied into
earnings and profit takers moved in, bringing
share prices down to rest just above the 100ma
at 316.83. New entries may consider waiting
for a break below or bounce off the 100ma support.
A break below could see support at the 20ma
near 305 or the 50ma at 287 mark as price...
TSLA - With a recent RBC downgrade and earnings just around
the corner, shares have broken thru all major moving average
supports and appear to be heading towards trend line support
around the 266's. Wed, the share price bounced off historical
candlestick support at 281. While price increases have been
a consistent response to earnings, lots of negative...
SPI - Up on news about entering a share purchase agreement for $7.6 million private placement, SPI made a strong move and closed up 150%. Tomorrow may see a retest of the 200ma at 3.19 and a hod retest at 3.80. A break there could see 4.50.
STZ - Oversold Hook Trade Idea
With a bullish move over the 8ma at 162.48,
STZ ended with an engulfing candle on the
daily. Look for entry above previous HOD at
166.72 for a move to the 20ma at 172.78.
USO - Bullish Long Term Prediction
With the oil fund bouncing off the weekly bottom
trendline support at 9.17, and a green candle over
candle formation and RSI issuance of a buy signal
on the oversold bounce, a break over the 8ma at
10.60 and a previous candlestick resistance break
over 11.09, price action could start to move towards
major moving average bull...
FCAU - January 5, 2019 - Trade Setup
Friday's gap break over the 8ma and a close
just under the 20ma at 15.09 sets up a
potential move to the 50ma at 15.81 and
a convergence of the 100ma at 16.40 and
upper trendline resistance with a break
over the 20ma on Monday. Entries should
look for confirmation of a green candle 20ma
break above 15.19 and a macd cross buy signal.
MRO - January 5, 2019 - Trade Setup
MRO has recently trend reversed and
successfully broke over the 20ma on
a retest on Friday. With a RSI midline
bullish break and a favorable Macd,
it has a chance to move to the 50ma
at 16.36 with a break over previous
candlestick resistance at 15.70.
Other price targets at 17.81 and the
100ma at 18.80 for a swing.
USO - January 5, 2019 Trade Setup
USO closed just under the 20ma at 10.21.
This oversold hook trade setup offers
profit potential with a Monday retest over
the 20ma and a break over Friday's HOD
at 10.38. Look for resistance at price
targets of 11.09 and the 50ma at 11.54
January 5, 2019 - FB Trade Setup
FB - currently in a downtrending channel on the
daily chart. Consider an entry with a break over
the upper trendline at 138 with confirmation over
the 50ma at 140.50. Candlestick resistance at first
target price of 145 and second target near 100ma
GORO - Double Hook Break Out
Price failed to break 4.20's resistance
in late Dec; another hook forming -
may re-test this area; a break over
4.20 & 50ma could see move to 4.70's
100ma and recover to 5.25 200ma