Using the zig zag indicator to try and eliminate bias, this is a basic post-Covid crash Elliott wave forecast. I show wave 3 ending now because I had no better place to show it, but I think it will likely end sometime between now and $395. I'm anticipating reaching $395 some time in February based on that being the next significant level of Fib extension and...
Watch MACD for a crossover and RSI for a breakout. A MACD crossover would be very bullish and an RSI breakout into oversold would be bullish but also indicate that a correction is likely coming due in Q1. A failure of the MACD to crossover and RSI failure to breakout of the channel would suggest some possible sluggishness, a slight decline until RSI bounces off...
Copying the price action that followed the 2019 setup into 2020 suggests a $395 price target and a February crash. This is all very hypothetical. This prediction supports my $395 price target which was predicted using Fibonacci extension and another pattern repetition idea which looked at the repetition of the "W" pattern in 2020. The moving averages used for...
This chart shows the Fibonacci retracement and extension levels from the 2008 crash until now and points out times when they acted as support and resistance. The next resistance level is $395. Due to my expectation that the market will continue to rally due to a number of factors, $395 is my price target. This is in line with my most recent analysis which...
As indicated on the MACD, the MACD line has crossed over the signal line which is a "buy" signal. The MACD value is positive which corresponds to the 12ema being above the 26 ema and is considered bullish. The signal line "buy" signal happening in this bullish moving average crossover territory justifies the signal line crossover being interpreted as a "strong...
This chart analysis uses position equation terms from physics to show how covid total cases should be decelerating by the end of next week (December 4th) according to the linear trend of the acceleration chart which is approaching zero and should continue into the negative.
If the W leads to a 10.92% gain again and at the same trajectory as the previous W, this is the target.
Log chart showing the repetition of the 3.618X Fibb extension and expected return to the 200-day moving average in the low 200s (50% correction). I forecasted bouncing off of the current ATH on July 10 using this same approach, but that chart has been destroyed by the 5-for-1 stock split. I'm watching for a double top then a return to the 200-day. Future...
A simple extrapolation of revenue and price growth sees ROKU shares exceeding $240 about a year from now.
Watch for ascending triangle failure or completion. I'm bullish for the long term (retirement in 2045) either way and looking for buying opportunities.
There is a cup and handle on the weekly along with growing revenue and earnings. Might be a little late to the party, but at least there is confirmation now.
The momentum of the momentum indicator has turned positive suggesting a likelihood of upward movement (on average) over at least the next couple weeks. I'm looking at momentum of momentum because it appears to be calling tops and bottoms more reliably than the momentum indicator itself during this time of volatility and sideways movement. Momentum is shown for...
Deaths broke out in synchronization with cases during the first wave and lagged by 6 days during wave 1.5. We're now 14 days post-breakout of the 2nd wave and deaths are still flat. There is no established relationship between cases and deaths as far as I can tell. One thing that can be said is that deaths are currently way behind where they were in the...
SPY was scaled up using Pine code by a factor of 2170.22/338.34 which were the closing prices of Amazon and SPY on Feb 19th which was the pre-Covid-19 crash peak. The scaling causes the prices to line up at exactly that date for a visual comparison of relative performance before and after. The outperformance of Amazon, catching up to SPY before the crash, its...
Looks like it has been gravitating towards long-term (1997) support for a while now. I'm watching for it to hit that level then rally in late October, early November. If it does not hit that level in October, no position will be taken. The gray arrows show times when price gravitated towards long-term support. The green arrow shows what I'm thinking might happen.
I was early in mid September calling for a completion of a 5 wave impulse but it appears to be coming to fruition with a lower bottom than initially anticipated having been established in late September. A clear ABC correction bottoming at the 320 level which is the peak of the first wave makes a lot of sense. My 5th wave is drawn in fairly speculatively, it...
RSI trending up with lots of headroom.
Watching for a reversal confirmation at this extension of 1.3X which will be a repeat of the last extension. Most recent extensions and retracements are Fib numbers which are shown in green. The others that aren't are shown in red. This is a thesis and something I'm watching for confirmation.