Amazon just showed a technical bull flag.
RSI and OBV confirm short-term bull trend.
I would wait to see how AMZN and the consumer discretionary sector (XLY) behave after the FOMC meeting on Wednesday June 19th 2019.
AVGO earnings report:
AVGO Q2 earnings surpass estimates
Q2 quarterly report represents an earnings surprise of 0.77%. A quarter ago, it was expected that this chipmaker would post earnings of $5.19 per share when it actually produced earnings of $5.55, delivering a surprise of 6.94%.
Over the last four quarters, the company has surpassed consensus EPS estimates...
Using Fibonacci retracement: SBUX next resistance is $85.75.
If we brake above this line with high volume, it confirms the extended bull trend; meaning we could spend some more time in overbought conditions.
RSI and OBV confirm strong uptrend since July 2018. Check weekly time-frame for a clear view.
Two bullish flags have been raised. We could potentially see another.
RSI(10) @72 reaching for higher highs.
OBV confirming at its peak for 2019.
CCI(20) @115 - Could potentially reach 240 for bounce
Resistance @$17.8 / Support @11.5
On a fundamental basis, I don't think Snapchat will do well long term.
I haven't seen a chart like this.
Overbought conditions tend to go to extremely high levels. ( RSI<30 oversold & RSI>70 overbought).
I see a positive divergence between the bull rally from February (marked in the chart) and this June bull rally, is that the OBV is 50% higher!
RSI(10) @89, last rally ended on RSI(10) @94.
Check out the...
Flag is forming (again) on Z.
RSI(10) @67 on higher highs
ADX @45 on higher highs
SMA(50) crossing above SMA(200)
SMA(100) crossing above SMA(200)
Would not buy if it breaks the $44.3 support line. If it bounces upward, consider being Long.
* Remember to always set your stop-loss and profit-exit orders to protect yourself and balance the...
With 2019 E3 (2019 Electronic Entertainment Expo) coming up next week. -- June 11th - June 13th --
I believe this sector will thrive short term.
Important focus portfolio holdings are:
NTDOY (Nintendo) -> 6.84%
SE (Sea Ltd) -> 6.63%
ATVI (Activision) -> 6.53%
EA (Electronic Arts) -> 5.85%
TTWO (Take-two Interactive) -> 5.11%
* Remember to always set your...
RSI(10) @62 reaching for higher highs - OBV confirming trend
ADX (directional index) on a continuing positive trend
We see a very bullish move, as a hammer candlestick is formed at the 61.8% retracement level.
This is happening as the market as a whole is on a rally.
I would wait to see if we can break $68 (heavy resistance) on Monday.
Zynerba crashed into resistance at at $16.50 on May 17th 2019, and went into correction territory.
The engulfing candlestick today May 29th, 2019 is a very bullish sign ZYNE could go up to at least the $16.50 line.
Technicals are not great, however I expect them to start confirming the bullish trend soon.
Long: $13.15 (20SMA)
ADRO just broke a Resistance level @4.3, coincidentally, we also broke the SMA(200).
If ADRO can maintain its price above the SMA(200), consider the downtrend broken.
High RSI @69, OBV confirming.
CCI reaching 100, on uptrend.
*Be careful and ALWAYS use stop-limits as well as price-targets
After Trumps tweet of raising tariffs, China's market is temporarily crashing.
YANG is a China Direxion Bear X3 ETF. The index is having great gains.
I expect it to reverse on Friday 10th / Monday 13th. Analysts still expect the trade to happen between China and USA.
At this point consider buying YINN (China Bull X3 ETF).
Other X3 ETF's to consider:
RSI reaching higher highs @70. How long can we keep it overbought?
DUST is reaching SMA(100) which has been the on a YTD downtrend. Hopefully we can brake through the 25$-26$ to change the direction of that main trend.