As volume increases, so do candle sizes. We are seeing both here, and this could be the start of a volatile couples weeks or longer. Prepare for a range expansion (we are pressing on the bottom bollinger band) and many volatile price moves. This typically includes a downward trend with a few big green candles tossed into the mix (trapped buyers). There's no doubt...
Left Side: Weekly Chart
Right Side: 49min Chart (intraday)
Despite the market looking choppy, ADBE is making new highs. If you decide to trade this, I would look for an entry at 560 (a support touch).
Stop loss @ 556 (below support), where the stock would likely do a full gap fill if this price level is reached.
We are at the top of a rising wedge channel. It's normal to see a rise in volume, as many investors are deciding to move out of the stock market. A rise in volume typically indicates a market top/bottom, and some sporadic price fluctuations. Expect much more volatility in the coming week, and the top trend line to hold as a resistance.
LMND has been rising very quickly, but that is coming to an end. Nasdaq made new highs and is pulling back, LMND is clearly pulling back alongside it.
LMND presents a good short opportunity. Call Credit Spreads for $100/101 is my play
Resistance @ 100
Support @ 78
Although we gapped up yesterday (Thursday) and today (Friday), we have not held the gap very well. There is very obvious bear pressure at 424, and we have been trending lower on 5 and 15 minute charts. The volume is the lowest we have seen since in over a year.
Short term outlook bearish.
Bulls and bears are equally matched in deciding whether to break higher or lower. Be wary of choosing sides here.
If you are short volatility, then you've probably been making a profit. The longer time we spend consolidating, the stronger the direction conviction is. June is historically a bad month for stocks, July is typically much better. We have pushed up 40%...
Showing signs of a recovery. Since it's IPO, ABNB reached highs of 216 before consolidating back at ~140, it's initial offering price.
The volume has increased in this stock and investors are taking interest. It has a clear path upwards with very little resistance.
Looks good for buying calls. Lots of room to run upwards.
BFLY is a small cap company, which can be good for momentum plays, these companies can move independently from the broader market.
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TXN filled its gap as the chart suggests and has another gap to fill downwards. I believe the market is looking overall bearish.
This stock is at its top bollinger band right now and the volatility is contracting, options are expecting a small move for next week - about 1%. However the chart suggests this could move up to 2.5% in the next two weeks if it fills the gap.