SpinTrades

SpinTrades

WMT wants up. Price action over the past few trading sessions has shown many spikes that quickly faded, whether they be in reaction to positive news or just intraday movements. It appears a cup and handle is forming which is easiest to see on the 30min. Fib targets above.

SpinTrades Updated 

I wish I had posted this last night! The range identified was tightly coiling price action and broke to the upside through the fib where it will hopefully re-test support and move higher.

SpinTrades

LINK can make another run to its August highs with a break to the upside, entry above the marked fib. This may need a few more days to set up.

SpinTrades Updated 

JPM showed relative strength during a market pullback and confirmed a pennant breakout with its close even on a down day. A rotation into banks may provide the volume this needs to see fib targets above. Safe entrance above last market open. Stop loss can be set at the fib below.

SpinTrades Updated 

Many eyes on GS and with a rotation into the financial sector it could truly break out and hold the gains. With the market pullback, gains were softened but the RSI >50 indicates strength. Any entry above the pennant is a good one and should see a retest of the fib above in the next few trading sessions. Fib below can be used as stop loss.

SpinTrades Updated 

ADSK has nearly tapped ATH recently and fell down with the market weakness. It seems to have rallied and looks oversold. Fib retracement was done from recent swing high to low, levels included. Ideally an open at or above the current level right at the fib would backtest and hold, providing ideal entry.

SpinTrades Updated 

Knowing ROKU this stock can move at the drop of a hat, but may need more time to set up. It is forming a symmetrical triangle which should be bullish if the uptrend prior to the market selloff holds. Fib retracement was done from recent swing high (ATH) to low upon market selloff. Does not look oversold or show anything of note on RSI, on watch.

SpinTrades Updated 

Square pulled back on market weakness and looks to have broken the downtrend after finding support above the 34-50 day EMA cloud. Going back to March, it has rarely been this oversold as indicated by the SlowStoch. This may gap up over the entry level, backtesting it and establishing support would provide ideal entry. Stop loss is below, targets above.

SpinTrades Updated 

After a failed breakout and a pullback, oversold conditions may prompt this reversal. A long-legged Doji on the daily is further indicator of this. Fib levels drawn from recent highs to lows provide support and resistance levels, additional stop loss could be set to previous day's lows or percentage based on your risk level. Ideal entry would be retest of the...

SpinTrades Updated 

On Aug 28th this signaled a reversal demonstrating a similar pattern, oversold after two red days with a long-legged Doji candle, indicating this pattern may result in upside again. Support below can be used as entry upon re-test, short-term resistance above can be used for profit targets upon rejection. Fibs drawn are a retracement of the recent move high to low....

SpinTrades Updated 

I am not as confident on this one and I think it needs another daily candle to close to confirm. Starting to become oversold, bouncing off the 72/89 EMA cloud, and down from recent highs of over 280. Nearly a reversal hammer candle on the daily. This may have a nice comeback, but will depend on market conditions as well as investor reception to cloud stocks.

SpinTrades Updated 

Beautiful price action around those fib levels. Closed 2 cents below the 0.618 at 264.47, if it opens above and holds it should move towards the .786 fib level at 288.56 over the course of the next week. It tried to break and failed at this level on August 3rd 2020. After recent explosive movements from other cloud stocks, $TWLO may follow suit.

SpinTrades Updated 

After an inside week, EA was on my watchlist this past week and unfortunately fell out of the symmetrical wedge as the market pulled back. Short of a catalyst the low volume was not enough to propel it upward. Closing at just over $130 it seems to have found support from the lowest fib, and with oversold conditions nearly <20 SlowStoch an aggressive and safe entry...

SpinTrades

After some very assertive upward moves, Netflix was setting up to test all time highs and set a monthly high before the market sell-off. Fib levels were useful to some degree but daily, weekly, and monthly resistance may be more reliable indicators shown by the congestion zone highlighted in yellow. Entry above $518 may get caught in the congestion zone, whereas...

SpinTrades Updated 

$CRWD had a strong upward movement into the 120's but closed just above the 118.56 fib level at 118.64. If this holds it provides an aggressive entry, safe entry above Aug 26th high of 120. Stop loss below 116.24. Upwards it can see fib levels at 125.44 and 129.02 Note earnings are this week which will also inflate premiums.

SpinTrades Updated 

SlowSto oversold, bouncing off the 34 day EMA, looks to go upward from here towards fib targets above. Fib support at the dashed line, looks like a safe entry above should it hold it, a retest would confirm.

SpinTrades Updated 

$ADSK has recently broken out for all time highs after a 35 year history. This could break higher and continue to run alongside other cloud names. RSI >60 reflects recent moves while showing there's more potential upside ahead.

SpinTrades Updated 

After failing to break $160.63 on Aug 26th and hold, the break came and held today and continued after hours. Worth adding to the position upon a retest of this level, fib targets above.