If price can holds within this channel, looks like a great entry price. Will need to monitor price compared to the overall market to gain confidence the sector will be resilient, but there's potential.
$SNAP appeared to be forming a double bottom, but failed to create higher highs during a very bullish 2 week run for the market. Price could not make higher highs for the month, and just eeked out a higher high on the week before failing.
For me, price needs to break $41 to consider going long.
Options flow has seen increased bearish flow.
Volume on $STNE seems too big to ignore. AVWAP shows $30 a realistic price target. Berkshire Hathaway owned. Whether Buffett/Munger companies are good buys at low prices, or whether the market looks to Buffett/Munger on where to invest in times of uncertainty, is hard to determine.
Taking this trade would be following the adage that "price...
$CCJ showing a C&H breakout, and in a bullish sector.
Out-of-the-money options flow is very bullish, with the 4/14/22 and 9/16/22 expiration dates show most open interest. Strikes are between $30 and $40.
As always, do your due diligence and confirm your levels.
$SPY against resistance of the prior week's high at $441.11. If rejected look for support at the downtrend resistance turned support for a bounce to retest the prior week high. If price breaks prior week high, look for resistance of prior swing high at $448.06.
I'll be staying very neutral, and wait for price action to let me know where the market...
On the monthly chart $CPB retraced 50% of the prior month. High likelihood the up-trend continues to create an outside month for February.
Look for $CPB to continue. If price creates a new high on the monthly chart, look for shorting signals.
$PG rests right above the breakout point of its triple top pattern. MACD curling bearish. RSI just broke below 50.
This seems to be a fairly textbook example. This pattern boasts a 79% success rate (allegedly, I've never backtested it).
Options flow appears mixed, with 2/12/22 activity leaning slightly bullish.
As always, no need to rush. Always confirm.
The Ichimoku Cloud is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. It does this by taking multiple averages and plotting them on a chart. It also uses these figures to compute a “cloud” that attempts to forecast where the price may find support or resistance in the future. ...
$CHWY had an unimpeded run up 11.22% today (2/9/22), to rest just below the trend resistance of its broadening formation (the pattern is known for increased volatility and price action as long as price remains within the pattern).
I do show $51.04 as an important level of resistance, which after passing price flattened out, but did hold.
$TSLA price at strong resistance of $932 area, which has been firmly rejected since Jan 24th. Assuming current pattern holds expect downside as low as the $905 area.
$SPY is in both an inside month and inside week, so I'm not expecting $TSLA to close above that $932 this week. But $TSLA is $TSLA, so we'll have to see.
Playing the move from the...
Heiken Ashi Candles is one tool to help with conviction for day and swing trades. These candles use averages to show strength and continuation of a trend. Using the $AMD chart as an example, the upward and downward trends are more obviously displayed than with the traditional candles, leaving less doubt on whether or not the trend is likely to continue.
A hammer signaled reversal for $PFE. Shortly after price broke out of the downtrend resistance. Four inside bars have formed during period of consolidation.
$PFE looks primed for sharp movement. Catalyst would likely be FDA / CDC approval/rejection of its Covid vaccination for children, expected in 4th week of Feb. Application is for 2 doses,...
After a long downtrend, Chewy may have found it's bottom. Jan 24 gave a Bullish Engulfing candle at the $37.11 support.
RSI poking above 50 for the first time since late Nov '21. MACD curling. Buy volume has been increasing since early December '21.
Showing more buy volume and greater daily price action as price moves closer in an expanding pattern...
$GTLB shows a Morning Star candlestick pattern after a long downtrend. This occurred after an apparent breakout of the current leg of the downtrend.
RSI is highest it's been since Nov 2021. MACD is curling. Volume is relatively higher than average, but I'd prefer to see it much higher to boost confidence.
Price has surpassed one level of resistance, but want...
$TSLA is showing a double top on the weekly chart, with a current retest of the key support turned resistance.
Lower time-frame charts show the the 2nd top of the double top as a head and shoulders.
Price broke out of the current downtrend resistance to form inside bars on the daily and weekly charts. I expect this to consolidate between $937 and $880.50 for a...
$PFE has a 3 day inside bar after breaking and holding above trend resistance of the downward channel (see weekly chart).
Hammer on 1/24 signaled the potential reversal.
Key resistance just above high on the mother candle. Will need to break that resistance for a continued uptrend.
As always, confirm the move. Interesting setup.
Options Flow shows only 53%...
$OXY Inverse Head & Shoulders (see chart)
Large volume spike on 1/24/22
Options Flow > 60% Bullish - Strikes of note are 1/21/22 $39 C & $36 C; 3/18/22 $40 C
Energy Sector saw a 17% increase in Call volumes with a 19% decrease in Put volumes.
Conservative strategy is to wait and buy 3/18 strikes on retest of neckline.
Aggressive strategy is 1/21 strikes if...
$HPQ Cup & Handle should have upward movement left, but hitting ATH causes concern.
Would like to see consolidation above $38.50 to confirm support.
Long Trigger $39.85 > Price Target $43 (based on C&H depth)
Short Trigger $38.29 > Price Target $35.84 (next Fib support)