After weeks of up and down price action it looks we may be coming up on a point in which the stock needs to take direction. Positive trade war news this week has redirected NVDA back into bullish movement. An agreement coupled with positive earnings coming up should hopefully solidify upward momentum. Looking for $225 at year end.
I'm looking for a breakout early this week for JPM. Positive news with NAFTA Deal.... Canceled visit w N. Korea sends a message to China, lets see how they react. Hopefully progress toward a trade deal too.
In Recovery From Head And Shoulder Pattern. Good momentum moving back up, should open and continue up to the 200DMA (Blue Line). Good opportunity to Gap up and over Tuesday morning if it stalls There EOD Monday.
Buy off the bounce. Either red downtrend channel, or Aqua support. Did not push through intermediate resistance (green lines), so down trend continues until next run up. 13.50-12.50 Target for my next purchase.
There is a chance it may break the intermediate resistance around 14.50, hold until it approaches the red downtrend and set stop losses there to profit....
Bottomed out on support. Will run again above 32.60. Will bounce off of all time high and retest before making its next breakout.
Bonus points: I think it will track along the yellow diagonal once it breaks past the downward gray diaganol.
Looking at the chart I see a large wedge formed off of a resistance line dating back a year. It was broken for a short period as we hit the 18 mark but has quickly receded back and has challenged, but not broken since. the support is coming from the low of 8.31 tracked up to the consolidation points post runs. Any news related to forecasting, drug approval, or...
RSI at 44
Finishing the handle of large Cup and Handle Formation
Inverse head and shoulder formation almost complete
Catalyst needed to get things going.... News of new drug approval by end of month.