Bitcoin approaching its 382 fib. The run up and short term top in early Nov 2015 was stopped by the 382 fib. Took until May 2016 before moving back above the November highs. I'd be cautious. I would NOT short. I'd like be a buyer anywhere around ~6500-7000 range before the next rally starts again.
GOOG has been well oversold on the daily timeframe with the short term MA over extended below the longer term MA, now showing signs of contraction in the moving average spread percentage. This signals a recovery is likely in play.
TESLA TSLA Short and long term moving average spreads have only been this far apart from each other (to the bearish side) on Nov 25 2013 and Feb 12 2016. Both dates, in hindsight would have been excellent buying opportunities. I'm watching closely.
Humana has been selling off since late 2018. Based on the daily timeframe we are now well over-extended below the moving averages and exiting oversold RSI. A recent bounce can allow for us to return to the previous structure levels, the nearest being ~270 area (9-10%).
AAPL setting up for a bounce to return to the mean. Previous levels based on price structure allow for a bounce target of 7% around $165 per share which also aligns with the longer term moving average.
BABA is currently extended below the moving averages and recovering from an oversold moment. Stock is still in a strong down trend, so be careful, but typically it bounces well after coming out of oversold.
Activision ATVI is currently well oversold and over-extended below the MAs. Activision has been a strong growth stock, a return to the mean allows for conservative targets between 3-7% above current prices.
Typically I am not very big on diagonal trend-lines, but historically each time Bitcoin has broke the larger time-frame downward trend line after a big rally it has marked the end of the bear market. If you look at where we are on the 50 and 200 period moving averages on this 3 day chart you will see we are closer to repeating 2012-13 instead of 2014-15. In 2013...
Bitcoin had a nice bounce breaking many previous levels with no problem. Next level of resistance is at 7840. The daily closed above the downward trend line, just barely but still closed above. Not really sure what to expect next so I'm just dollar cost averaging with weekly buys, however I don't think we've seen the last of the bears.
Honda Motor Company is currently oversold and below the short and longer term moving averages. We appear to be forming a 'w' bottom, and earnings call is about 2 weeks away. Targets based on prior price structure allow for 5-!0% targets.