It appears that the current price action is drawing a nice bullish continuation pennant. This is supported by a similar figure being drawn on the RSI graph where we currently have bullish divergence.
If todays candle will be finishing in the green and no lower lows will be plotted for the day it might be worth it to open a LONG position.
The trade will offer a...
Here is our analysis on ROKU.
We plotted D-Waves on the daily chart and it turns out that the price still has to complete the fifth and final wave before hoping to climb higher.
In order to call the wave closed the price must first close at a 21 days low. So, for tomorrow the price target will be 145.7.
Last week saw the SP500 price overtake its previous max.
The move was strong enough to let the RSI percentage to climb higher than the previous relative max as well.
This doesn't allow much room for doubting the strength of the trend. This trend is strong anche it doesn't show any signs of change.
I will keep an eye on investors sentiment and wait...
It is my believe that TSLA is going to drop around 10% to a price of $1800 +/-20.
This is due to the bearish signal that is being generated today by the RSI (14 days ) which is clearly developing a bearish divergence and by the bearish candle formation that has been drawn in the last 3 days.
My intention is to open a short position and set a TGT1 around $1850 and...
All the items are there as they should be on a textbook triangular bullish continuation pattern.
- Decreasing tops and increasing botoms
- Decreasing volume
- Previous bullish trend and rapid bullish move
- 48 days length from pole to apex
I expect the price to make a sudden move in the next 10 days towards the upside.
My first targets are:
TGT1 - 16.7
TGT2 - 23.3
Here is my take on SP500. We are currently seeing the price move to new all-time highs approaching the level of 3393.52 from last February. The question is what will happen next?
A few points:
- The price action is showing a clear bullish layout. The trend analysis does not suggest any change from the current direction.
- If we take a look at similar movements...