black lines - resistance zone, still holding
red lines - resistance zone, retested and still holding
blue lines - old support (zone), new resistance
middle green line - old support, new resistance
Anything short of creating a new all time high could result in bears taking control with 2 target levels.
The less likely scenario is that price will make a pretty...
Lower lows and lower highs, price currently coming back up to retest old support (rectangle and solid blue line) as new resistance, while creating a bear continuation pattern. Aggressive bear entry if price starts hinting bearish around 32-33, more conservative bear entry if/when price closes below the lower double green lines.
TSLA weekly chart has a falling wedge with decreasing volume in the process.
The wedge is falling right into a natural S/R zone, where the 100 sma is also approaching, and there is a fib confluence zone (2 retracements, 1 extension). TSLA earnings date is Feb 18, 2015, which should be in the ballpark of enough time for the pattern to play out.
1) Towards the end of 2012, price action created a stable resistance line with at least 3 touches, illustrated by the red dashed line.
2) I have some amateur wave counting labeled, the 100% extension of wave 1 from the end of wave 2 lands at the aforementioned red dashed line.
3) We have 3 dashed blue trend lines, 2 of which create a channel, and the 3rd one...
Price has retraced back into a S/R zone where it could take a healthy bounce off the 50 ema and 100 sma to continue the bull trend, IF the following conditions are met:
1) Bullish candle close above the blue trend line
2) Price gets back above the 10 and 20 emas
3) Price action does not touch 184.24
Target around 213.xx
The fib target is based on the current high of this week's candle, it is subject to change as price changes. I used the AB=CD method to find the next leg's potential target as well as trend lines and possible elliott wave count.
At first glance CHK looks very bearish, but after checking it out, I think this could be a good place for some sideways action then a bullish bounce.
1) Trend line with multiple touches
3) Fib confluence zone using one retracement and one extension
4) Potential MACD triple divergence
5) So far, it is short of reaching the lower channel line, signaling...
Since TWTR gapped down pretty aggressively on earnings, its gone right back to where X marks the spot, I have a fib confluence that is a little lower, around where the green line is. On this chart, I have a couple of options laid out, I'm not pretending like I KNOW one of them will be the correct one, Im just putting out a couple of options for what could...
AAPL has gapped right down to target on earnings, watch for price to move back up about half way through the gap to the closest price action, at which point the bears could retake control and drop the price down to the 455 area, price action on the weekly chart might make the support/resistance there look more obvious.
fib price extensions in blue, fib time extensions in red (not sure if these are done correctly)
StochRSI overbought quickly, should turn down one more time
Stoch finally starting to move up
AO about to get back into the positive territory
Yellow circle gives just an estimation of target price/time, price could meet previous lows (shown by the red line extended to...