After a long bearish move, we see a nice cup & handle formation. Of course to validate the move, we need to see an upward trend of the cup.
Be aware that there is a voting end of June for APXT! If merger is not approved, then it might be a bit disaster.
Though the cup & handle move will be confirmed way before end of June, if we don`t see harsh moves on NDX, I...
I was looking forward to today, this week, on whether we will be rejected by the downward cross resistance line or not and we got rejected.
This is not good because twice rejected and twice got support confirms the narrowing wedge formation (thick blue lines converging)
I draw the path I expect this etf to follow. I am in since 9 months on this ETF and my cost...
Black line which held several times in the past is being tested. I expect to bounce back and forth between black line and MA21 for a while till we break it up.
If Black support line is broken, it will be free fall till 90$
Narrowing formation coming to an end. As SPAC, before merger i don`t think it can go down below 10$ as SPAC how SPAC works. and I don`t assume it will go down. We have tested the thick blue line enough times and bearish move has its toll. Good preliminary earnings have been announced and 2021 guidance has been increased.
I know SEC does an extremely slow job...
on ARKW - MA 50 daily is a main support and resistance, worked like a charm especially last 3 attempts to break it failed.
We see a convergence of MA 21 and MA 50 so I expect a bit up and down between these to MAs and then break down where they intersect, find support from the blue line and then push up to break both MA21 and MA50.
I like that the volume has...
Previously, I stated that we see a reverse head & shoulders despite people calling it is normal head & shoulders and I was proven right as after last shoulder we followed the black line I have drawn.
Now once again, we arrived at the critical point, the bearish resistance upper channel (blue line). We have tested this part before and couldn`t break it. Once again...
Initially from the fist part, I thought it was a double bottom W formation and it worked till 16$ but couldn`t break the blue line that`s the resistance and went down again.
The good thing is it found the same resistance yesterday at 13.55 which is the bottom on the first wave.
Hence I firmly believe, as you can see from the black line I draw, we see a reverse...
the topline coming down worked as a resistance several times. What we lack in this bearish move is where the real support is.
BNGO since the beginning of the year moved drastically up. Even now x6 YTD. So hard to guess where we will see a support.
Hence, I would like to see support line working 2 more times and we break the resistance line before jumping on the boat.
The support line so far hold (black line) even though the steep decline smashed in between price points.
MACD shows it is about switch, RSI has an upside hook showing trend change.
Now I believe MA200 initially will resist, but 2nd time push onwards will break it upwards.
just an idea, not investment advice