Looking at AAPL on the 30 minute. The stock price has been in decline, rallied on based off presidential tweets and trade war "news". Today's catalyst was Trump plans to delay auto tariffs by 6 months. That was enough to reverse a 200 point loss into a 120 point gain for the DOW.
On this surge, we have a rising price but declining volume divergence....
Looks like AAPL could be forming a possible cup + handle formation on the weekly.
But first the price has to decline a little further. Probably $172-175 before reversal in 2-4 weeks. Like to close at or below $185 this week.
Why 2-4 weeks? That's a rough estimate of when a "trade deal" might be worked out. A successful trade deal will undoubtedly send the price...
A couple weeks back, I read an article that suggested Bitcoin's sudden rise in price was actually due to PBOC (China) running out of dollars.
We can see the price has spiked in sync last week and today based on tariff news.
From a technical standpoint, the price looks exhausted and we'll probably see a pull back imminent.
I'm using the daily but the weekly is...
NIO set a new low today, thank you trade wars!
The price doesn't show any momentum of changing direction.
The price must stay above the green/blue trend line to remain out of the "fucked zone".
Might as well buy more puts.
Apple is cruising towards that red line. Short term price target of $178.
If the price doesn't bounce off the red support, expect it to continue to fall, potentially to the trend support line, forming a double bottom.
The market was rescued this morning following "There's still hope!" tweet from our President.
Looking at the 15 min timeframe, you can see the stock gained some bullish movement but it's still quite bearish.
Note the price is below both the green and red lines.
$195 target for 5/10.
MARA is approaching the end of a pendent. Break out or break down by or before 5/17.
Looks like it could be setting up for a final wave before correction.
Bullish target is kind of crazy, as it would be a nearly 400% move... but a VERY STRONG 5th wave could push the price to $8.
Some bearish indicators though. Namely the bottom red bars.
How to trade:
ACB closed below the green trend line on the daily.
Target 1 $7.68
Target 2 $7.31
Target 2 $7.20
Target 4 $6.32
Cannabis is an emerging market and while it will be quite big in the future, I wouldn't expect cannabis stocks to necessarily reflect that growth.
Case in point. I live in Colorado, which is arguably the Amsterdam of the US, when it comes to...
RIOT puts have been doing awesome the past week :)
Why is RIOT a piece of shit and why should you short it?
Well, namely they fund their operations through share dilution. Management is also highly inexperienced.
Oh, and I think they defaulted on a loan or something? I know they gave a lender a whole bunch of cheap warrants to exercise around the middle of...
EEM which can be thought as "Emerging Markets" looks fucked to me.
Baring a sudden trade deal this week (unlikely), EEM could see sub $40.
The puts I purchased last week have already doubled in value. :)
From a TA standpoint, let's review.
Price is below the green line (bearish) but bounced off support in the last 10 minutes of the trading...
NIO is probably a good buy, long term.
But short term, I'm seeing nice profit off my NIO short term puts. NIO could turn out to be the buy of the century... at $2.80 :)
We can see here, NIO is coming to the end of the wedge it began forming on April 1.
The price (and market in general) was pumped up in the last 10 minutes of trading today by algo panic buying,...
AAPL - Apple
This is actually an old chart I drew for a friend (who longs AAPL), suggesting he sell when the price broke the trend line.
Here we can see the price was squeezed right up to that same trend line (now resistance) on May 3rd's epic short squeeze and the price is now in retreat.
Looks quite oversold here. QCOM is another good Apple proxy short currently.
Looking at the total market cap, excluding Bitcoin, alt coins can be seen approaching the end of a wedge.
My guess though is the Alts are about to take off and very soon.
This same chart, on the weekly shows a very compressed wedge.
Various alt coins are at their geometric and mathematical lows, primed for a breakout.
Breakout could be either before the close...
NIO, or "Cheap Chinese Tesla" as I call it, turned bullish and has entered the long zone today. This is one to watch this month.
Now, I think NIO is a strong play for the next 12 months but there is also the potential it could reverse one last time still.
Or, more likely in my view, a push up, followed by a decent pull back.
I am not a long buyer until the...
SNAP looks bearish as fuck 4HR and my honest hope is the price holds just long enough into open that I can score some cheap 5/3 and 5/10 puts.
Better yet, the price spikes slightly to 11.30 and sells off from there.
Okay, so let's break it down. Bear flag, clear as day.
Other notable mentions would be rising wedge, rising price on declining volume and...
NIO, or "Chinese Tesla" as I call it is a Chinese Electric Vehicle stock. The company also provides mobile charging stations throughout China which is a nice hedge considering the current gluten of Chinese electric vehicle startups abound.
From a technical:
TA is somewhat limited on this stock due to it's young age and lack of a history, other than the falling...