BYND is declining still to lower levels as forecasted of my last analyze. It broke the lower boundary of its trend channel and this is a bearish sign, as long price is below the blue trendline.
All this behavior is part of a wave „C“ move and the inner structure indicates a wave ((iii)).
If BYND is extending his correction a support zone is around...
Canopy Growth, the world's largest Weed company, is correcting within a wave „C“ of „(2)“, alternate in a wave „W-X-Y“ of (2).
The possible wave „B“ high @ $52.74 is important to overcome, cause it would imply that the correction is done.
Observing the development in the past days, you will notice, that the negative news flow topped on August 15,...
NYMEX Crude Oil futures (current contract in front) is moving to $55.24 level this week and has not exceeded the level of $ 58.13-58.82, which is a target range of a wave „4“ of lesser degree and the 0.618 Fibonacci. While the structure from the low @ $50.60 is not a complete structure I favor the idea of a „flat“ correction in progress which is not...
NIFTY50 declined this morning to the lower boundary of the trend channel and reversed since. The move from this low (@10924) is quite shallow and not strong, suggesting a sideways move with maybe fresh new lows on Monday or Tuesday or so.
Today`s technical are the following: a/d-ratio closed @ 0.9 (according to...
according to teletrader.com Hang Seng declined this week by 0.79%. It also achieved the level shy below the 24994 area, as I named as a target range at my last analyze. More interesting is the fact, that this low looks as a five down, the final low of the decline?
Let`s check the facts.
Today's low is just at the level of a wave „c“ of (ii)) from...
Hang Seng is expanding his weakness during the mass protest in Hong Kong. Massive violence is floating in the streets of the megacity and the Chines government is hardens his rhetoric! More often than not in the past, such a high level of negative social mood support an important low in an index. But it is not required.
For the short term, HS...
as I mentioned at my last analyzes, NIFTY50 is heading lower toward the 10782 range and below.
The following facts support this view.
1. The move from 10782 – 11181.30 was countertrend, showing a „three-up“, the decline since creates overlapping waves that make an impulsive move less probable.
2. N50 also retraced a bit above the 0.382 Fibonacci...
Hang Seng made this week low on Tuesday @ 25397.35 and jumped to a weekly close @ 25939.30! This was a weekly loss of 0.69% (according to teletrader.com) and left a „bearish Engulfing“ at chart, a bearish reversal pattern, indicating more weakness to come in the next days and maybe 1-2 weeks.
If so to come, HS will attack the important low @ 24540...
NIFTY50 closed this week up to 1.02% (according to teletrader.com)!
The move from the low @ 10782 to 11181 is so far a „three-up“, indicating a countertrend, for now, that is done or close to do so. It also retraced a bit more of the 0.382 Fibonacci of the decline from 11706 and met two waves „4“ level of lesser degree and expand shy above this...
today's session was one with a high a/d-Ratio=11 and rise to 11048 on a closing basis. Today's high was set @ 11057! the structure from 10782 to 11057 indicates an a-b-c pattern that is close to being done or needs one more „down-up“ sequence!
Note that such high levels of buying-pressure indicate often fakes, bull traps and"suckerplays" within a...
as mentioned at my last analyze, the low @ 25389 is valid. It is possible that this low was all of the declines or one more shy lower low will occur by tomorrow or Monday trading session.
If this count plays out, the next low and „five-down“ will terminate either some points below the 25389 level or it will terminate at the 1.618 Extension of the...
Nifty 50 declined to 10782 today and recovered from that level. This level is may a wave (iii) within a not finished sell-off. Means lower prices after a countertrend move is to expect. Overall there are several ways to interpret the developments as of the past days and weeks, so the chart is open to interpretation.
As labeled below the chart, the...
as an article on bloomberg.com website stated yesterday called out:
„Hong Kong Stocks Match Longest Losing Streak Since 1997“!
As you see at the graph below, the RSI is at oversold levels, while the 10-day MA has much room to decline.
Today's market action was a „reversal“ day, as Hang Seng opened @ 25472 and make a low @ 25397 at the second hour...
McDonald's, the world's famous fast-food seller for burgers and other stuff has may be finishing an impulsive move of high degree.
As you see oat the monthly chart, McD has an unbelievable rush from $0.14 in 1969 to a high @ $218.96 in July 2019! This high is either wave (5) of „5“ or it is wave ((iii)) of 5.
The „problem“ due to this interpretation...
NYMEX Crude Oil Futures dropped on August 1 to $53.95, an 8,21% decline. This is the largest decline since December 24, 2018!
In my view, this indicates a change of trend on a high degree level and opens the door to lower prices in the coming weeks as I mentioned before.
The move from $54.72 on July 18 to $58.82 was countertrend and indicates this...
BYND has declined this week to $172 twice and bounced modestly from this level. This behavior may work out as a „double bottom“ short term and give support for some hours or so. While the decline is fractured and showing overlapping waves I favor to label this move as wave „((a))“ of „2“. At $165.28 price has retraced a 0.382 Fibonacci of the stock...
today I`d like to show you the monthly chart for NIFTY50!
Something important occurred in July. It is possible to count N50 within a complete „five-up“ and the next move is, due to these theses, to the downside. A monthly close below the area of 10K will hint the odds for this view.
Following some alternate tools to analyze the chart, I use the...
Hang Seng gaped down this morning, opened @ 26950 and closed the day @ 26918. This means a weekly loss of 5.21% (according to teletrader.com) and it is the largest loss since October 2018!
This all occurred with a a/d-Ratio of 3/47, meaning nearly all stocks were sold.
The Short Selling Ratio „declined“ to 18.554%. From my view, there is a...