Well well well... Im sure I cant be the only one who has been loading up on puts since the last spike to the 630s...
I have been bearish on TSLA for awhile now and I personally think this was its last straw... it lost all of its support levels except for this march 2020 trend line that it bounced off of before.
Now yes, it could hold the trend line again and...
I am really liking this setup for a swing trade...
I would keep an eye for a confirmation break of this downward trend-line and the .382 fib around 181.
Oddly enough... .the weekly supply happens to right in between the .5 and the .618 fibs so certainly expect lots of resistance within this zone
My game plan:
7/16 190c on a confirmation break of ~181
NIO seems to have been following this downward channel for the past three months, volume has been nowhere near what it is was in the past.
A close over 40 would be bullish for me but although I am overall bullish for June... if it can't break and hold over 40 , I will be looking to short NIO back down to ~30.
(VERY BOLD PT: 28.20)
I will be keeping SE on my watchlist for the upcoming month as it has been consolidating and forming a bullish pennant after a huge run-up it had since March 2020.
After just beating earnings too by 42%, I would not be surprised if SE were to just retest the .618 fib and breakout from there. I would like to see if SE can hold the 235-240 range before hopping into...
DKNG has recently entered back into its long term trendline support from July 2020...
As we see, Weekly demand held very strong in the low 40 range and was instantly bought back up to over 50, from here I think we may retest the breakout and continue upwards to 61-62 at the .618 fib. This of course all depends on if we can break this old supply zone that from Dec...
ARKK seems to be in a massive falling wedge on the daily.
If it can clear 109.60 (21EMA) resistance, I see this running to 116.25 which just so happens to be the 50EMA, 38.2 fib, and the old trend-line support from July 2020.
Clearing this resistance area will break the downtrend and could possibly send this to the 128-130 zone by next month.
If ~116.25 can not...
Yes... I know... ROKU has been running this week but guess what, it is still in the massive downward channel!
ROKU bounced heavy off the long term trendline support and is now at a very interesting spot...which happens to be the downward trendline resistance!
This will be a great short opportunity into tomorrow if ROKU rejects resistance at ~338 (.5 fib)
SQ has been stuck in this massive falling wedge... bounced heavy twice off of the support trendline and held daily demand zone which are signs of SQ looking for a breakout!
I want to see SQ clear the .263 fib (209-210 to be safe) before entering into long calls.
I will keep be looking to snag 220c or 230c for 6/18
SL under 196.70
PT1: 221.38 (.382 fib)
As previously posted in the past, metals are certainly something you should consider keeping an eye on especially with the increase of inflation.
Now that we've broke out the downward channel, the next long PT will be the red line at ~1960
Bounced hard twice off off the trendline support but got rejected hard by weekly supply... had another short term bounce but couldn't hold over 315 for long
I think we see ROKU finally break this trendline within the next week or two.
I will be looking for a confirmed break of 283 support to start my short positions.
I have a monthly PT of 239.15 which is...
Although in the long term I am bullish on cruise lines, especially with covid restrictions being lifted, as of now this market is not kind to much of the recovery stocks
This is textbook put play, we have a descending triangle formed on the daily and its just barely being held by this ~79 support level
I will be playing 6/18 75p on a confirmed break of 78.50
You're probably wondering why I have been posting a lot of bearish content lately...its for a reason trust me
Inflation is going to destroy the market, its going to happen before you know it
The bubble is bursting, tech is diving, medals and asset based companies are skyrocketing!
Don't get caught holding an expensive bag, if your still going long in this...
ARKK has been steadily selling off since February
Selling volume was extremely above normal for the last few trading days
Also fell through 105 support which seems to have been strong in the past
I honestly see this falling back to the $65 range eventually but for now I would short this to $90 demand zone
If it loses daily demand, I am increasing my short...
TSLA falling out of massive bear flag on the daily
Seems to be on the C wave of the ABC correction
Short term bounce may occur off of 1D demand around $615-600 but I don't see this holding for too long
I would love to see a retest of old September highs at 505!
6/18 500p, 5/21- 620p (small position due to trimming profits from the recent...
This support level seems to have been a strong level in the past...could be a good place to enter long!
I would keep a fairly tight stop loss but my bullish PT would be:
SL: < $47.07
Yall should've listened to Burry when you had the chance...it aint too late though!
Markets dumping, Interest rates rising, bond yields climbing... you can only keep printing money for so long
Makes sense why we have been seeing a steady rise in Gold prices the last few months! Luckily, in our favor, Gold bounced cleanly off the long term trend line support, as...
NIO got this descending triangle going on the daily...its been holding demand (support) fairly well but if the bulls cant push through this trend line and supply, we might be falling back into the 20s soon.
I personally am looking for a break of the trendline and NIO over $43 before becoming bullish again... as for now... I am shorting NIO with a PT of $26.32...
AMD seems to be forming a head and shoulders on the daily while also it seems like it is on its way to completely a correctional Elliot wave.
There is strong weekly demand around $73-75 but I like the r/r on this trade! I am looking to short this all the way back $60 once it looses demand (support).
I am currently holding onto some 5/21 80p and 6/18 70p