I explained my analysis on the chart. I'm looking for a bounce off the 200 day then Elliott Wave leg 5 up to form a double top followed by the next megaphone leg to the bottom.
no matter how you slice it, there is an expected 5th extension that will take place before the next correction can begin. I'm not a firm believer in Elliott Wave Theory and I don't try to apply it to everything like some people do, but I believe there is some merit to it and it does fit this situation quite well without getting fancy.
Last time we had a price drop like this past week it was back in June when there was a sudden correction. The time before that was the beginning of the Covid crash. The market does tend to repeat itself so two possible future trajectories are shown as copies of the price action that followed those two events. The presence of the megaphone pattern on the weekly...
This is just a hypothesis. Everything circled in green seems like BS to me. If there was going to be a massive pump by Wall St before an inevitable collapse, this is exactly what it would look like. What's a better way to do it so that all the big players see what's coming than to drive the price up to the top of a previously unthinkable level that would...
Good long-term investment assuming no market collapse takes place, might have to revisit $600 if the trend channel continues.
It might be worth buying a bounce off of this juncture for a swing or long-term trade.
Just looking at the wedges makes me think this might be a more boring year than people are expecting.
Using the linear regression trend tool, you can see that we're at the bottom of the range going back to 2014.
As Fall approaches, I'm neutral on AMD. This is my technical and fundamental analysis of the bullish and bearish considerations from a swing trading and investing perspective. Details are on the chart. No position, watching for a triangle or top formation.
Using a Bollinger Band %B moving average I've illustrated that Gold appears to be breaking out against the DOW. There hasn't been a momentum shift like like this since before the previous major gold rally against the DOW, as illustrated by the yellow trendlines on the %B moving average. I used a custom moving average crossover script to colorize the bars.
Assuming Fib retracement levels are governing the natural ascent of TSLA price which it appears they are, we’re headed towards $2000 (2.618) but even more likely, $2600 (3.618) in this current ascent. $2600 coincides with the previous extension of 3.618, that’s why I believe it’s more likely than $2000. Also, it may not seem like it now, but when things cool...
Watch for a repeat of the February ramp up situation which began when the price variance exceeded 2.5 standard deviations 2 days in a row. Anticipate resistance at the pivot levels indicated. Note that the volume situations are not identical. There was lower volume and a volume spike in February. This time there's heavier volume coming in and a slight increase...
The previous trend support that is now resistance has been bounced off. Watch for a continuation of the selloff in the coming days and weeks.
As shown by the chart, price is way up in 2020 and on balance volume is way down which suggests the price action doesn't have shareholders behind it to justify it from a volume standpoint. Basically, suckers are bidding it way up while smart money that brings real volume is watching from the sidelines, if I'm not mistaken. I've compared OBV on other stocks and...
Along a range of historical price values, this indicator draws a line from each previous price to the current price and moves the line so it begins at the current price instead of ending at it. The resulting polar array of lines which projects potential price trajectories into the future in a pattern which resembles a sneeze can be used as a visual aid to help...
I don't have a strong case for either direction for next week which sucks because I plan on day trading. I have trendlines drawn in which go back as far as 2003 and most of them are in close proximity to the price action. The RSI average has recently been reaching lower levels that normally coincide with corrections but the market is not following technicals or...
: Hypothetical descending triangle formation which begins with a bounce off the 200 day ema ($297) on Monday. It's something to watch for, not an actual triangle until if and when the bounce occurs.