Monthly view......OIH broke out a few of months ago. spent the next two months backtesting the last month resumed the uptrend. the 618 retrace on this pattern is over 700 dollars. Possible 3x. Tom Lee of fundstrat is calling for 700 plus as well. Might take some months to get there but could be a good one if oil stays at this level or higher.
Bouncing off an area of prior support. RSI bullish divergence. MAC D about to go positive. Daily Bullish engulfing candle forming , but we still have some time till candle close so not confirmed yet. 4 hr showing hidden bullish divergence as stated earlier. Need to clear that 40800 area.
BTC showing hidden bullish divergence on 4hr & Daily rsi divergence & Working on daily bullish engulfing candle as well but have 3.5 hrs till close.
Bullish divergence playing out on the dollar. breaking out. Ten year yields also rising. Stop losses would be a good idea...market could reverse here
Damn this has been so weak. Breaking support line now on 4 hr
Nice tight wedge. Hidden bullish divergence now developing on 4hr time frame. Implying higher prices. Calm before the storm ?
Cleared that last resistance point. Next stop test the high. 4236 area. As long as rates can stay down and the dollar not rip should hit all time highs soon.
Breaking out of it's consolidation area. i read that it was listed on the MSCI index today. Dividend is in 10 days....short positions have to cover or pay the dividends. Plus this stock is all over reddit WSB talking about short squeeze....and it pays dividends. Did i mention its the # 1 wholesale lender in the US that makes sick money every quarter ? Just sayin
To me this is an important chart right now. Tight wedge formation. Bullish divergence on the MAC D. Looks ready to pop. problem is this could cause stocks to reverse if it does . Strong dollar + rising rates today = no bueno We'll see whatt happens.
Triangle within a triangle ? This thing is coiling up and getting ready to breakout of this consolidation soon. NQ 100 is still backtesting so far this morning....maybe tomorrow ?
Both have come down and backtested prior resistance. Nasdaq still consolidating. Es is making it's move today....all time highs today ? Lowest UE claims since covid today.....
Came down and backtested resistance in this channel that it's been in on lower TF. Breaking out of channel off of that economic data this morning.
Not a bad first day on this one either ! And we haven't even gone positive on the mac d yet ! 10% ish since entry. This is such a pretty setup. Sell area at the top of the range....last time it took 3 months to get from bottom to the top.
Not bad for the first day ! I think it hit 17% gains yesterday at one point. We're currently butting up against a resistance point from Aug of 2018. now, once this resistance is breached....next resistance that i'm seeing is around 29 dollars....and after that ? It's basically straight up to 57 !!!
Remember we have that gap fill around 46-48k ...which lines up with a 618% retrace....makes sense that we at least get there. In case this is just a relief rally i'll be looking for signs of reversal somewhere between targets 1-3.
We've broken out of the channel that we were in. Now, we just need some bids to make everyone who was anticipating 20k to fomo back in !!
Bout to breakout of this congestion area. Tech has and is about to rip ! Back to Growth !?