A two-sided framework continues through summer between 62.14 long-term support, and 81.73 long-term resistance, both regions able to contain seasonal activity. Inside this wide range, 77.71 can contain weekly buying pressures, 73.27 weekly selling pressures, with a settlement below 73.27 indicating 68.25 within several weeks, where the market can bottom out on a...
For Friday, 4611.25 can contain session strength, 4567.50 likely to contain initial selling, while breaking/opening below 4567.50 allows 4493.75 intraday, able to contain session weakness. Closing below 4493.75 indicates 4456.00 on Monday, where the market can bottom out through next week, and the start of a wide zone of midterm support on a 4369.50 able to...
For Friday, 73.24 and contain selling into later next week, once tested the 77.63 formation attainable again within a full week of activity. On the other hand, closing today below 73.24 signals 68.25 within 1 - 2 weeks, where the market can bottom out through August trade. Upside Friday, the 77.63 - 77.72 area can contain buying through next week, and below...
Align Technologies Inc. (ALGN) presently testing a significant descending channel top, able to absorb weekly buying pressures. From here, (ALGN) is susceptible to falling back to channel support, eliciting losses of 20% over the following 2 - 3 months. Inversely, if a weekly settlement above this channel top occurs, (ALGN) will enter into a buy signal where gains...
For Thursday, 4606.00 can contain session strength (assuming an open below), 4562.50 likely to contain initial selling, below which 4493.75 is attainable intraday and able to contain session weakness. Closing below 4493.75 indicates 4455.25 tomorrow, where the market can bottom out through next week, once tested the targeted 4676.00 then attainable within 2 - 3...
For Thursday, 73.22 and contain selling through the balance of the week, once tested the 77.55 formation attainable again by the end of next week. On the other hand, closing today below 73.22 signals 68.25 within 1 - 2 weeks, where the market can bottom out through August activity. Upside Thursday, the 77.55 - 77.72 area can contain buying through next week,...
For Wednesday, 4600.50 can contain session strength (assuming an open below), 4557.50 likely contain initial selling, below which 4493.75 is attainable intraday and able to contain session weakness. Closing below 4493.75 indicates 4446.00 within several days, where the market can bottom out through next week, once tested the targeted 4672.50 formation than...
For Wednesday, 76.00 can contain intraday buying pressures, below which 73.19 is attainable intraday, able to contain selling through the balance of the week and the region to settle below for then indicating 68.25 longer-term support within 1 - 2 more weeks. Upside Wednesday, pushing/opening above 76.00 allows 77.46 - 77.72 intraday, able to contain weekly...
Netflix Inc. (NFLX) testing significant overhead resistance, able to absorb monthly buying pressures. From here (NFLX) can fall back to channel support eliciting losses of 15 - 20% over the following 2 - 3 months. A settlement below a near-term channel bottom would be the signal of this downward trajectory. Inversely, a weekly settlement above the significant...
For Tuesday, 4552.75 can contain session weakness (assuming an open above), 4595.25 in reach and able to contain weekly buying pressures, and essentially the start of a wide zone of targeted midterm resistance up to 4655.25 able to contain buying through August activity. Downside Tuesday, breaking/opening below 4552.75 allows 4531.00 intraday, while closing...
For Tuesday, 76.20 can contain daily buying pressures, below which the targeted 72.87 - 73.34 area is likely today, able to contain selling into later week and the region to settle below for then indicating 67.08 within 1 - 2 more weeks. Upside Tuesday, closing back above 76.20 signals 77.77 within 1 - 2 days, able to contain weekly buying pressures, and...
Zscaler Inc. (ZS) approaching significant overhead resistance, able to absorb buying pressures into August trade. From here, (ZS) can fall back to channel support, eliciting losses of 50% over the following 3 - 5 months. Inversely, if a settlement above channel resistance occurs, (ZS) enters into a BUY signal where gains of a similar magnitude can be expected over...
The 4589.75 formation can contain weekly buying pressures, possibly through July trade, once tested 4438.00 attainable over the following 3 - 5 weeks, where the market can bottom out on a monthly basis. A daily settlement below 4262.25 signals 4187.75 within several weeks, long-term support able to contain selling through the balance of the year and above...
A two-sided framework continues through summer between 62.14 long-term support, and 81.85 long-term resistance, both regions able to contain seasonal activity. Inside of this wide range 77.70 and 67.08 can both contain weekly activity, possibly into August trade. Closing below 67.08 indicates 62.14 within several weeks, able to contain selling into...
Trip.com (TCOM) presently testing significant long-term resistance, able to contain monthly buying pressures. From here, sellers can gain control and (TCOM) can fall back to support, eliciting losses of 20% over the following 2 - 3 months. Inversely, a weekly settlement above this long-term resistance would result in a buy-signal where gains of 20% would be...
Equity Trade Idea of the Week: V It’s not every day that a world-class company trades at an attractive price. Here’s how I see the company’s valuation… Visa is currently trading slightly above its technical BUY ZONE, at a multiple of approximately 29 earnings per share of $7.80. Over the past five years, Visa has been able to grow earnings by 15% per...
For Friday, 4542.75 can contain session weakness (assuming an open above), above which 4584.50 is likely and able to contain buying through next week, once tested 4411.00 attainable within 2 - 3 weeks. On the other hand, closing today above 4584.50 indicates a test of next week of the targeted 4639.75 formation, where the market can top out into Q4 and a...
For Friday, the 72.85 - 72.97 area can contain selling through the balance of the week, above which the 77.63 formation is likely by the end of next week or sooner, able to contain weekly buying pressures - possibly through the balance of July. A daily settlement above 77.63 indicates the more significant 81.97 long-term resistance level within 1 - 2 more...