Looking at hourly chart for air canada, we are starting to see, multiple bullish divergences, which indicate bullish reversal.
We are starting to see head and shoulders pattern starting to emerge, and bulls need to break 16.15 convincingly for breakout.
In case of bullish breakout, the next target is 16.80.
Looking at the hourly chart for shop, we are starting to see hourly reversal as indicated by RSI and MACD bullish divergence.
I am expecting shop to test hourly 50MA in next few trading sessions. Bitcoin is starting to move upward and most likely tech sector will follow as DXY goes down.
Looking at 4 hour chart for SPX, we saw significant bounce back today and it is currently testing top of the orange descending trend line.
$3400 is a very important level for SPX as it acted as resistance before covid pandemic and mid August. Additionally, 50 hourly moving average is also sitting around $3400, which means that bears are most...
Looking at the daily chart, Bitcoin is hovering around psychological $10,000 range which coincide with 100 day moving average.
However, I still don't see significant bounce back from $10,000 and most likely Bitcoin will test $9000 (200 days moving average) in coming days, which overlaps with 38.2% fib level.
In my previous analysis, I mentioned good short set up when SPX hit 3500, and as expected we saw significant downside movement today.
Looking at 4 hour chart, SPX could not find physiological $3500 support and that triggered numerous stop losses today. Right now SPX is at $3450 which put it at very awkward spot for both bulls and bears.
Looking at the monthly chart, SPX is testing 8 year long orange trendline once again.
There is a very high probability that bears will start shorting SPX. Both RSI and MACD indicate bearish divergence.
To me this last few days of trading seems to be liquidating shorts and people who entered the shorts at 3400 are trying to cover their shares....
I am back for another AC technical analysis.
Looking at the 4 hour chart, we can see that AC has been in down-trend since June 20th high, as the price has been rejected multiple times at 4-hourly 20MA.
However, few bullish signals have emerged:
1) Bullish divergence in price and MACD
2) $15.90 has been tested multiple times and bears are...
Bombardier finally broke .57 resistance, and looking for the weekly reversal. It is currently testing .56-.57 as a potential support. The volume is decently high for the breakout. In case .56 does not hold, .53 retest may be necessary.
Daily 100MA most likely acts as an overhead resistance, but plenty of profit can be made in this trading...
Weed is forming classic bull-flag setup ready to fill in $25 gap.
Hourly 100MA is around $24.80, which may act as resistance.
Weed is fundamentally very strong company with quick ratio over 5 and this stock will be a good long term hold.
Marijuana stocks are gaining significant traction in past few days, as weekly pullback is taking place. The volume has been above average since last few days which means investors are starting to accumulate.
HEXO might be able to go around $1.60 before the earning. Long term target is around $3.
Looking at the weekly chart for SPX, we are starting to see some macro-bearish sentiment:
1) Orange trend line overhead resistance
2) Historically, we are constantly seeing 78.6% Fibonacci level rejection (end of 2018 and beginning of 2018)
Unless there are series of bullish news, bears are most likely placing short orders in red box region...
AC stocks looking bullish mid-short term:
1) Morning star reverse bullish pattern
2) Daily MA50 is starting to curve upwards
3) MACD is gaining bullish momentum
As long as AC closes above $16 next few days, my target will be:
Stop loss: $15.5
After head and shoulders breakout on Nov 21st, Bitcoin is currently testing neckline, which is around $7500.
I am currently sitting with USDT patiently waiting for clear direction. If Bitcoin confirms $7500 as resistance, we will see further bleed and attempt to find support at $6000. In case of bullish breakout, we can expect relief rally up to...
I started entering short positions after a parabolic breakout. I will be trading based on fib level.
Entry: 263 Sats -> Exit: 287 Sats
Entry: 243 Sats -> Exit: 263 Sats
Entry: 224 Sats -> Long position
Looking the 4 hour chart, Bitcoin is trying to go above 1 week long down trend. We had breakout earlier today, and try to confirm blue trendline as support.
Bullish targets are indicated in red based on dynamic volume profile:
If we go below blue trendline, it will most likely re-test 7.7K again. I still want to see...
Bitcoin has been in very tight ranges in past few days, and people are desperate for the decisions to be made.
Looking at the daily chart, we see that daily high is starting to take place ($8735) and we may see another tightening equilibrium to be formed. I have not been trading Bitcoin past few days as there are only small gains to be made with...
If you remember from my previous analysis, I mentioned that Bitcoin was running out of momentum, and 8K retest was necessary (which did happen).
Looking at the 4 hour chart, Bitcoin is currently hovering around 8.5K. Dynamic volume profile indicates that 8.35K retest is necessary for next move. Ideally Bulls needs to break 8.5K and retest $9K...