ContraryTrader

ContraryTrader

Up move completed here at last gap.. Short from 36,200. Target 34,300 If dow breaks over 36,200 then possible move back to ATH.. under 36,200 is the shorr

ContraryTrader

Rising wedge here with bearish divergence. Pullback to 117 most likely .. below 116 and 109 is next.

ContraryTrader Updated 

Spent all last week consolidating. Some but not all of big tech have topped off. I think we have 2% more upside to 458 target or trendline retest. IXIC or Nasdaq composite has lagged QQQ or NDX for most of NOVEMBER; That's because big tech has outperformed large and mid cap tech. If you look here on IXIC Unlike qqq that has closed their gaps, IXIC has still...

ContraryTrader

Higher low , higher low, higher low, highlighted in white; add to that the weekly volume and bounce off 226 support and I see tsla hitting 250 this week. Long over 238 Target 251 or trendline resistance Stop loss 234 Price action shows a double bottom and a handle on pullback XLY sector (Amzn/Tsla) showing an bullish inverted H&S

ContraryTrader

Stocks like Macy's usually move with IWM or smallcaps. As you've seen the last 2yrs smallcaps have underperformed the market and So has Macy's. Over the next few weeks I think Macy's will make a return trio to the top of its channel an close gap at 19.50 Macy's broke out of a falling wedge with massive volume this week. My first target is 16.70 price...

ContraryTrader

Something happened technically on msft last week that hasn't happened since Dot com era; Msft closed outside its weekly bollingerband twice. To say this is Overbought would be an understatement. Short entry Below 364 Targets 1st 357 gap close 2nd target Trendline support or 345 The yellow horizontal line is msft previous ATH at 366, things get...

ContraryTrader

Price formed a very large falling wedge at demand/support. Breakout of wedge should happen this week 1st target is 109 2nd target 120. Similar setup here for the energy sector XLE

ContraryTrader Updated 

Most stocks and indexes had higher than normal volume for the weekly. Candle technically wasn't a bullish engulfing because for that to happen the candle has to open up lower than the previous candle to "Engulf" it. I'm sticking with a bear target of 390 by December. The monthly candle is structure is still a bearish reversal with 3 black crows; This means a...

ContraryTrader Updated 

Rising wedge here. And severely Overbought on hourly I'll be looking for a pullback to 132 in the next 3 trading session before a rally up to 145 gap close. Should look like a double bottom pullback. Leg up to 145 holds as long as we don't drop back below 130

ContraryTrader Updated 

Bearish ascending wedge here Target is trendline support or 340. Stop loss 358.50 3 days outside its bollinger band is not sustainable

ContraryTrader

Bigger pattern at play is the Bearish descending triangle . The next break of 400 will begin the gap close of 300. Smaller pattern at play here is the fallen wedge. The target here would be the 461 gap close which aligns with trendline resistance. Target 400 Stop loss 465 Sector also pushing at resistance SMH

ContraryTrader Updated 

Oversold indicators VS structure.. After all my Homework, that's what I come away with.. Oversold indicators are all saying that by Mid week there will begin a rally. Structure says by the end of November we will see low that is lower than the October's close. Below I'll explain. Let's start with the Oversold indicators. The biggest signal I see that the...

ContraryTrader Updated 

Monthly chart 3 black crows candlestick = Bearish Weekly chart Gravestone doji Reversal candle with strong volume. = Bullish. Daily chart falling wedge pattern that would take us back to 198-200.. I seriously doubt we break over 200 because of the price action and weekly 200sma.

ContraryTrader Updated 

Last post I went over the tech sectors mostly to show how they were rolling over. Fast forward and they are still rolling over but I think we get a 2-3% pop before we continue that slide. Here's my reason IXIC or Nasdaq composite represents the entire tech unlike NDX/QQQ which represents only the top 100. Late Friday we flush within 40 points of trendline...

ContraryTrader

Price at 287 price action support.. I'm looking for a bounce here and a move up in the next week back to close this gap or test white trend line resistance Long over 287 Stop loss 284.00 Target 300.00 If we break 284 then meta is headed to 276

ContraryTrader

Long here off support Target is 170-171 or trendline resistance. Too oversold here on major horizontal support at 162 dating back to 2020 Stop loss 162.00

ContraryTrader

Double top completed here at 210 Looking for a retracement back to 222-223 this week. Stop loss 209.50 Don't know if it can go higher for now Channel formed here .. and if we fall below 210 we are headed to support around 150

ContraryTrader Updated 

Weekly Macd and CCI death crossed. Broke out of bear flag friday. The usual drop from A bear flag is the length of its pole Like so Target is 32.00 Stop loss - any close above 37.00