* one view here is an inverse head and shoulders with a neckline at either 55 or 60
* another view is just a cup-n-handle formation with a clear break to the upside
* obviously tiktok deal cements their advertising business; are they transitioning to an advertising company? (dont forget they bought bluekai. could there be a re-valuation, like we saw with...
After blowout earnings pushed a new high, we had a massive bearish engulfing. Looks to be way ahead of itself; would like to see it retreat back towards its 50day which nicely coincides with the previous uptrend line. MACD rolling over and about to cross. Upper bollinger band crossover sell. Does not look as healthy as their customers!
Looking for short term trading opportunity back to 100 - back to the 50 day moving average.
* clearly defined falling wedge
* double bottom at the 85 level -- a level which also was congested some months ago - strong support here.
* MACD setting higher lows; about to cross the trigger line.
* gambling/speculating on this with 93, 95 calls sep/11; may push forward...
If this can hold over the ~~22.75-23.00 zone, it could make another run to 30:
* This chart looks like a massive bull flag on weekly.
* very high short interest
* NKLA/GM deal spurring additional possible interest from other manufacturers?
* MACD turning upwards
* fleeing TSLA money could be looking for other electric vehicle companies?
Target: 170. What I see:
* short term descending triangle
* weak MACD almost going negative
* bearish flag on weekly charts
* DXY seems to have found support; may see a bounce with the recent market selloff into cash.
* needs to hold the ~~ 180 level which also happens to be near the 50 day moving average
looks like it is going to break through on the downside...
$SPX looks tired; expecting a drop to 3400, very soon, probably before end of next week. here's why:
* hourly MACD turning negative
* daily RSI in overbought territory
* double top at 3500 intraday today
* weak close today; heikin ashi charts look troubling.
* end of week, two big tech splits - AAPL, TSLA occur after the close.
* this is near the previous high...
it's been a fun ride. I'm expecting a close at 2000 and touch of 1900 next week. if this occurs, we will have a head-and-shoulder formation which could drop it further to 1700 before the end of the week. yes, I know there is a split for aug 31. buying aug 28 1900 puts to speculate on this.
If you read this as a giant inverse head-and-shoulders, a break of the neckline right around the current levels would project +170 points(!) landing this stock at a cool 500. Regardless of the read, we have bumped up against resistance several times and it looks ready to break through. a strengthening MACD lends credence to the story. Earnings come in...
Very aggressive looking-- either going to fail and become a triple top or going to blast through. two decent uptrend lines to me suggest higher. Trading 268+ would be a pretty clear break putting 300 within reach.
Looks like the Feb gap down is in play now. That in conjunction with either the 'W' or cup-n-handle looks like there will be further upside in the short/medium term, perhaps to retest the previous highs right near 3400. Tough to say how it might react if/when it gets there, but seems more likely to get there than not... and could form an ugly double...
The whole rally the past few weeks seems attributable to the decline in the dollar. And it doesn't look good with a giant descending triangle. However, here we seem to have found some gentle support on the bottom end of the bollinger band. Looking for a very short term (3-7 days) bounce here commensurate with an SPX drop. 25.5 seems like the obvious exit...
Looks for 1250 next week. Technical reasons: RSI weakening from overbought conditions, stepping inside upper bollinger band, hourly MACD descending. Some potential for a gap fill. Would like to see this consolidate around 1250 before earnings, which nicely coincides with my Jun 8 $1250 prediction. Seems legit! ;)
One of my trader friends mentioned this to me a week ago and I took a small position. He'd argued that it should have an AMZN style valuation. While I still don't agree, it looks like the market does. Wow. Breaking out of the trend channel to the upside to new highs, this could run to 300+ in the coming weeks.
Yet another electric truck manufacturer. This one has sprung to life recently but has very different stock mechanics than NKLA that may scare some away. market cap is still "reasonable." in comparison to TSLA or NKLA. Purely speculative trade.