Stockstradamus_

Stockstradamus_

SPY has finally arrived to the June 17th, 2022 lows to form that double bottom (Yellow Circle). At the close of day on 9/23/22, SPY formed a hammer candle on the daily timeframe right atop the demand zone . On the weekly, SPY hovers closely above the 200 day moving average. Also, I have noticed that SPY has a MACD crossunder on the weekly timeframe . In contrast,...

Stockstradamus_ Updated 

Past Price Movement Analysis SPY is currently moving within a broadening range to the downside apart an overall corrective wave. SPY recently broke the previous structural high at $406, creating a higher high and making its third rejection at $431.71 off of the major resistance line of the broadening range (solid white line). Following this rejection, SPY then...

Stockstradamus_

BABA has returned to the demand zone within a large range measured between $73.28 and $126.27. It is currently completing a price consolidation within a larger falling wedge at area as well. This is great area to start averaging in a longterm position in addition to the trade idea presented below. Ideally I want to enter trade when stock price drops between $74...

Stockstradamus_

SPY broke below pennant (blue dotted line) and also broke below $386.83 to create a new lower low. It is also trading in a downward flag pattern. SPYs sell off on 9/21/22 after Fed meeting sent the ETF from $389.31 to $377.38. This move filled most of the GAP between $376 - $379, which was created on July 14th/15th. The 9/21 trading day candle on daily timeframe...

Stockstradamus_

Could be wrong but this is what I’m seeing on TSLA today. Forming a falling wedge right at the handle of this cup and handle. The current pre market bounce is also occurring at the previous breakout resistance indicated by the two circles. I also found that this wedge is forming between the 61.8% and 78.6% fibs. Lastly, all of this is in confluence with the...

Stockstradamus_ Updated 

FDX has broken out of this falling wedge / bull flag pattern on the daily in addition to breaking the 200MA again, right at previous resistance turned support. It has also broken structure to create a higher high. NYSE:FDX Trade Idea: Wait for pullback & retest of the red wedge resistance line & 200MA to show they have turned support and begin the formation of...

Stockstradamus_

TSLA is currently consolidating within a pennant on the weekly. Market sentiment suggests possible bearish move below the pennant but with the way the market has been fluctuating, it is more important to wait for a clear breakout of this pennant into either direction. Last week was a bearish week for TSLA. It ended with TSLA showing some rejection of the 50 MA as...

Stockstradamus_

XOM is consolidating within this rising wedge that is also in confluence with the HTF 68% FIB level as a larger pullback. If price breaks down from this wedge over the next two days, you could see a large move to the downside. Can day trade part of the move or swing the entire move. STEPS FOR ENTRY: - First confirm trend change by watching for price action to...

Stockstradamus_

XOM is consolidating within this rising wedge that is also in confluence with the HTF 68% FIB level as a larger pullback. If price breaks down from this wedge over the next two days, you could see a large move to the downside. Can day trade part of the move or swing the entire move. STEPS FOR ENTRY: - First confirm trend change by watching for price action to...

Stockstradamus_

MRVL is consolidating within this large pennant flag. I have marked levels and alerts above and below the current price to monitor for a continuation upward or a reversal back to the downside to fill gap. Your Thoughts?