About mePlease, understand the risk when trading stocks. I'm not responsible for any losses you may incur. Do youre due diligence before you decide to invest in the stock market. I'm doing this for educational purposes only.
Today's market rally is nothing other than bear market rally. The QQQ is clearly forming a descending channel pattern, and I expect more to the downside. I would watch the resistance level at $340, we may to test that and continue trending down.
Watch your levels, they are the story telling.
BABA is a fundamentally sound business, and if the stock drops another 20 to 30 percent, I will still hold my position, and most likely add more.
From the technical point of view, the chart indicating we are nearing the bottom at this level.
What we are seen right now is a very healthy correction in the stock. Looking at the chart, I see we had a solid update...
This Chinese stock has about 50 percent correction from its all time high. The stock has formed nice looking symmetrical pattern. I expect the stock to see short squeeze coming within the next few days, week, or two. I am long the stock.
I have been looking at various charts in the futures, and I see the IWM, Russel 2000 ETF, has the largest gain since the March crash. The index has gained approximately 118%, with minimal corrections along the way. I looked at the weekly chart, and I see wade rising wade is forming. That tells me there will be an imminent correction of 20% or so soon. If we see...
Looking at the long-term trend for the SPY ETF, and I'm wondering which is the direction this trend is going. Can it breaks this long-term and continue moving higher, or is it going to get rejected the same way it has multiple times since 2018? I guess the only way to know which direction this long-term trend heading is to wait and see.