Glad to see QCOM come back up after bouncing off it's 200 day SMA. It's also now regained it's 50 day SMA. RSI and MACD signalling room for more upside to come. All looking quite good. Now it faces a former support zone as new resistance in the realm of 142-144.
UPWK was fighting to stay alive, trailing along it's support zone at 42ish. It held and since has busted out of the Feb downtrend and has been making a comeback. Yesterday regained it's 50 day SMA and that's good, it's going to need some strength to get through next area of selling pressure - a push past 50 would be one sure sign this is making a formal move for...
After keeping support, ETSY now regained its 50 day SMA, MACD crossover, and now up against 220ish resistance. Needs to overcome this in next few days. Long term trend still very much in play.
All eyes on PTON today to see if it can hold it's long term uptrend line or whether it'll crash through it on the back of the treadmill issues: Sentiment would definitely shift if this goes down through it, as it's it could very much so go through its 200 day sma aswell - last few times this has held up relativlely okay so let's see if it will again.
ZM seems to be in a pretty bad position at the moment. Struggling to gain much traction above it's uptrend line set back from March 2020: It's well under key averages for some time now and showing not a great amount of strength.
Pretty keen moment seeing PAYC break the downtrending channel it's been in. Regained its 50 day sma. Could rise to 410 pretty quick if this isn't a headfake.
Considered MDB to be in a spot of bother a little bit ago... it slipped but regained it's 200 day SMA - which is very good - however it's still got a fair bit of work to do. It's regained it's uptrend line from last spring but faces resistance zones and the downtrend line that's started all this to beat. This stock is still in quite a precarious position so...
Looking for PENN to hold this support level. Pretty vital moment.
As before in my previous idea I scouted the possibility that NVDA was poised to jump, after having just recovered quickly from its 200 day SMA (classic buy-the-dip moment in my books): After that it's destroyed the downtrend line from February AND has now smashed through it's 550ish resistance band. Likely scenario is a little consolidation around this level...
As forecast per my previous idea, CRM coming off the bottom of it's channel and headed back up to regain it's averages: Regained it's 50 day SMA and other indicators are looking pretty good too. Looking to see this regain it's 200 day SMA and then reach for the upper channel trendline for either price rejection or a breakout.
As per previous idea, AAPL broke out of the downtrend set from Feb for real this time, and glided along retesting support around 118-119. This proved solid. Looking to see if AAPL can now break 128ish resistance area - quite a lot of selling pressure here. Yesterday regained it's 50 day SMA, and so with that, the likely scenario is a fairly uninhibited run up to...
Smashed through resistance. Perhaps consolidation on this as support and keep chugging along. A bigger picture maybe reveals some guidance to how it'll continue..
PYPL got pretty close to it's danger zone. Slipped and momentarily broke it's March 2020 uptrend: Looked like it was forming a head and shoulders pattern but seems that's gone for now. Task now is to close above 255.
Long term idea here is that PM forming a multi-year cup and with a hopeful view a handle at some point. At the moment it's certainly facing resistance at the same point as it has about 6 times (even more if you go back more than 5 years), so this is a significant price point to get through. So in the very near-term I suspect the most likely scenario is either...
Before it was a question of the Nassie holding support at 13000, which it did, then breaking it's downtrend and holding above 13300... which it did.... and then it was a question of it needing to break resistance zone and selling pressure around 13600, which it's done. AMAZING. With so much gapping up, the best case scenario before anything more would be a...
SPX still trading within a channel with upper and lower limits. Market exuberance over the jobs data that came out on Friday may see a boost up to 4070ish before a pullback. However interest rates worries lie in the background, so and eye on the TNX is important - the FOMC's minutes come out on Wednesday, which may induce another round of 'liftoff' worries...
AVGO retested support once more and bounced, and this time also coupled by regaining long-term trend and it's 50 day average. WIll likely see selling pressure at two zones as indicated by red bars:
Long with CRM and pleased with the recent bounce and consolidation off the support zone of 200-205ish. Probably not the strongest support but it's something. CRM still in a greater downtrending channel, stretching back from September 2020, but hoping that if CRM can regain it's 50 and 200 day SMA then it could show some strength to get to the upper channel line....