NASDAQ:QQQ Until and unless NASDAQ:QQQ drops out and stays out of this weekly channel it seems obvious to me that bulls are in charge. Of course, that can change and quickly but until it does, I remain in the bull camp. This pullback and sideways motion should help set-up more stocks for good entries. All TBD. So far, (it's mid-day on Thursday so a day and a...
NASDAQ:AMZN I am looking / waiting for Amazon to break above this area of resistance before I get involved. If we get an improving market ( I don't know if we will) then I expect Amazon can head back to recent highs. I have an alert set on that line and if / when it breaks thru I'll start looking at a lower timeframe to determine a good entry and stop...
NYSE:WSM broke out of this consolidation area this morning on big volume. With just over an hour into the trading day it's traded about 1.9mm shares and it's 10 day average is 1.1mm shares. At this run rate it should trade 8 - 9mm shares before the day is done (TBD). I took a position and placed my stop just under the area of previous resistance. Let's see what...
NYSE:PATH has been consolidating in a stage 1 base for a while now as shown on this weekly chart. I see NYSE:PATH is putting in a series of higher lows and is sitting just under an area of resistance. The breakout looks like it would be over $20. I'll be looking at a lower timeframe and a good market to get involved. See relevant notations on the...
It is hard to believe but there is a lot to like about this NYSE:SHOP chart. What I like is that it has recently come back and touched the rising 40 Week MA (white). It Just bounced off the AVWAP from all time high (meaning that the aggregate of shareholders since that time are in the money). It is well above the 18-month AVWAP. And it is moving up through the...
AMEX:RSP is very interesting here and I have started a full-size position as I can easily define my risk with a stop just under the most recent daily low. See chart for notations. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
I have had my eyes on NASDAQ:APPN for sometime now waiting for a breakout past the upper area of resistance. Hasn't happened. Now it looks like it is running into 2 possible support areas where it "may" reverse and head back to the upper range and maybe even breakout. I don't know. having said that, I will be looking for a reversal trade in the next few days....
NASDAQ:ROKU had been basing for about a year before breaking out on Earnings on July 28th on massive volume. That was followed up with 2 more days of heavy buying volume. It has since pulled back near the original breakout area and forming a possible Bull Flag. And if you were to zoom out to a weekly chart, I can see this as being a Cup w/ Handle formation. I...
I am long NYSE:NET with a half-sized position. I am anticipating a move above both the horizontal area of resistance and the downward sloping trendline. Looks to me to be a do or die here. The most positive thing on the chart IMO is the move over the upward sloping 40 Week MA. That will also serve as my stop area. See chart for thought process. Ideas, not...
NASDAQ:ZS I have most relevant info on chart. I have an alert set on the upper resistance line on the chart. It did exceed that but pulled back in this tough market. I will be looking for both the market to improve (who knows?) and NASDAQ:ZS to break above that area. The bad is both the market and NASDAQ:ZS did put in a lower low most recently. In any event...
Back on July 31st I published an idea that NASDAQ:NFLX may be breaking out. Well, it did for just a bit but that failed. Fast forward to today, 8/21/2023 and it looks to me that we “may” have an H&S Pattern with a clear neckline as I see it. It dropped below that line last Thursday and looks to be ready to test it from the underside. If it can get up, over and...
I have been keeping an eye on NYSE:TWLO for some time now. It had been in a downtrend with a series of lower lows. That changed last week when it put in a higher low. Now it has broken above the downward sloping trendline and Wedging Pattern. I’m looking to go long with an entry on a 5-minute chart. This got away from me this morning, so I’ll look for some sort...
Looks to me that NYSE:YETI may be ready to make a move higher if the market rebounds. So far today it is shaping up to be an inside day (the day’s not over). This may take a few days or weeks to develop so maybe something for your watchlist. If it does not drop below and stay below the range established after earnings, I will look for a good long entry. If it...
CBOE:SPX Is sitting right on the 10 Week MA (covered by sloping trend line) and on the up-sloping trend line 1. The next area of support comes in on the horizontal support line around 4290. Below that are both the 40 Week MA (white) and trendline #2. Visiting any of these areas would not negate the overall uptrend. Nothing says any of these will hold. They are...
NYSE:CVS released news today that Blue Cross of CA will no longer use them for prescription management. As a result, we have a big sell-off which may be overdone. TBD. I am looking at this as a potential U&R. I have it measured against the most recent lowest low of $66.34. I have an alert set crossing over $66.40. If that triggers and on a 5-minute chart and it...
NASDAQ:TSLA , I like trading this stock when it’s trending up. I am not good at short selling, so I simply do not do it. I’m looking at a couple of possible support areas on this chart. Of course, there is no guarantee that these areas will hold. Tesla is clearly in a down trend a well below the 20 Day EMA. I will be watching these areas closely for a reversal...
There is a lot to like about this NASDAQ:COIN chart. First, it has had a long stage one base (about a year). It seems to have established an area of resistance during that basing period. Then on July 11, 2023, it broke-out with big volume, retested the next day the then on July 13th it had the biggest volume day since May 2022. Since that breakout it has...
NASDAQ:PANW may be actionable here if it fits with your trading plan. I missed the big breakout (May 24th) and the run up after the last earnings report. It has now pulled back and based for 3 weeks and looks to me as though it is breaking that base. I started a ¼ size position Jul 27th and was under water by end of day, but it did not hit me stop. I added again...