Revisiting a weekly chart of a 9 symbol crypto mega cap index (BTC, ETH, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC) one can't help but notice price resting on a shelf that was formed during momentum running deep into overbought territory. As the shelf is more or less flat for many months, we see momentum cooling into saner levels.
Price could continue to base out in...
Starting from a weekly timeframe a falling wedge nearly 7 months in the making is observed on ALB charts. Notably the wedge formation appears beside rising momentum, drawing the supposition a price bottom could be forming.
Considering trades, the question is whether a breakout is imminent or if the price will break down once more to retest the bottom of the wedge....
Campbell's looks primed for a pump for a variety of reasons
Massive 336 day rounding bottom with rising momentum
Golden Cross on daily chart
Hit overbought during recovery
Staples sector showing recent strength
Moving into range where it previously gapped down, potential for sharp rise to top of the range
Bullish flag since mid April
Long...
DJT has had some wild swings lately. Impressively DJT pushed deep into overbought territory on the longer duration weekly timeframe. The company is sitting on under $400K of cash and carries a debt load of nearly $6.8M!
From a technical standpoint how can we take a view of where the price might go next? With all the noise the monthly timeframe is where I think we...
Selling PUTs on Natural Gas ETFs seems a decent income prospect at the moment. Not only are there auspices of a falling wedge breakout, but an increase in momentum may be acting as support at the lower end of a months long trading range. These formations are already seventy five days in the making, providing some confidence in the likelihood of our bullish...
Starbucks could be building into a triangle pattern of epic scale. Presently on the weekly chart, we are looking for an eventual rebound from current price levels which is roughly in line with low points from 2020 & 2022. The real breakout could be years in the making though, whereupon a potentially massive measured move higher out of the edge of the triangle. In...
The daily chart on XLU provides rationale to keep a place on our watchlist. Recently it made a golden cross and seems to have broken free of a downdraft in price. Now it looks like the RSI could be searching for overbought.
One option is a momentum trade targeting the $71+ price. Personally I'd like to see it hit overbought, then that a position of it pulls back...
There looks to be the makings of a bottom with a potential breakout ahead, as TEAF has posted a slight uptick in momentum while the 50 day MSA begins to flatten out. No options available in Robinhood so this could be something to average into with a stop loss and the hope of a breakout on the coming weeks.
