Looks like a solid base is forming / has formed. Price is trying to work its way out of the choppy wedge.
Long into earnings? Seems like a good technical setup. Would be fun with some lotto calls.
If $NTNX can push through resistance next week it'll probably result in a nice run off of the double bottom it saw last month. Long if it breaks through the box
Possible H&S continuation down to support at $200? Its definitely trading in a channel.
The last couple of trading days have revealed where more accurate resistance levels are, so I adjusted my chart to reflect that. I personally think this is the beginning of a big move down over the next few months, something similar to December. We'll see though. I'm happy to switch camps if the market proves me wrong, but so far everything appears to be...
Its times like now when its really just a smart idea to buy a 3x inverse etf to hedge your long positions. :p But seriously, this doesn't look good to me. I'm not claiming that I'm going to be correct, I'm just noticing that based on previous patterns I've seen price action follow, this is what I think is most likely to happen. Combine that with the current...
I adjusted the top trendline to account for today's price action. Makes more sense too as it includes the wicks from candles previous.
Most of my idea is on the chart there in the chat bubble. I'm expecting a pop or drop from this triangle. I just noted that I think its funny that its due to happen right around earnings.
A rule I like to trade by is that "previous support becomes future resistance". Well, here we are, at an area that's previously acted as support. How easily will we move through this? Are we about to get rejected and start our next leg down? Or, are we going to move through this like its no big deal? I've been trading for quite a while and my gut is telling me we...
This looks just like a break of resistance. It looks like the next price target could be $1800, but it doesn't make sense. Admist a gov't shutdown and many potentially damning testimonies coming, there's just no way it's going to get bullish again. Are we honestly going to sit there and think that companies are going to report earnings above guidance during the...
Trump needs to pull a miracle out of his orange bottom. A trade deal with Xi is the only thing that could possibly save this from happening and Trump knows it, which is why we are getting daily tweets reassuring us that it will. This idea is just one of my few ideas I see when I look at $AMZN, this one is the most bearish obviously. A 60% retrace would be a great...
Tomorrow is D-day for Amazon. Make or break. Well, I guess it could trade sideways but that's no fun. Anyway, price is meeting very important resistance tomorrow at the upper channel line and the 200 day moving average. Both have proven themselves to be difficult to move through, but with the momentum Amazon found in the afternoon today, I'd say anything is...
The market is turning right where we expected it to. There is very heavy resistance here no matter how you roll the dice. At this point its just a wait and see game. With the G20 summit this weekend, and special 'side lines' meetings between Trump/Putin/Xi, relations talk between Russia / USA / China will be in the forefront for the market. Hopefully good news...
Held back currently by the 20MA, SQ is struggling to summon the bullish power necessary to break out of this downward channel. I'm expecting price to get rejected here and continue to the bottom of the channel. Overall market sentiment is shifting though, and if the SPY is bullish next week then SQ might follow it out of this channel.
$AMD was cruising up this channel on the 5 and 15 minute charts. That channel just got broken and I don't have very high hopes it'll remedy itself right away. I'm looking for a short down to the VWAP, stop loss set above last 5 minute candle.
Solar Edge is on the verge of a falling wedge breakout. There was a double bottom too which I feel makes this breakout even stronger. A daily close above yesterday's high would confirm this breakout for me.
Price level on $AMD is pushing above the upper trend line here. Another close above this level would confirm bullish price sentiment. Ideally the move would be large and on heavy volume. If not, I'd expect a move up to the $23 -$24 level where price would get rejected and continue its move down the overall downward channel.