#NVDA Directors dumping marking the TOPMajor divergence on momentum structure
insiders dumping
massive valuation
why would u buy?
Techstocks
WOW Massive Double Top on #MSFTMr Softee looks like it wants to melt
Incredible if this triggers fulfils this pattern.
Linear target is actually worse than the Logarithmic target.
massive bearish divergence on the Monthly RSI
If was an #microsoft stock holder and in considerable profit...
I would definitely want to lock in those gains!
Nasdaq 2000 top vs Current Market.As Rektember draws to a close
The seasonal's actually point up for Q4
Santa Rallies are real market phenomenons!
But is this time is different? Could we have actually topped??
Compared to the tech wreck of 2000
You can see the initial drawdown was around minus 40% from the top
We then got a mini bull run, a recovery wave.
About the same 40% in an upward reversal move.
The 2000 downdraft and recovery occurred over a shorter time frame than what has transpired so far today..
The current market structure has more volume / price action that has taken place below current prices.. This in theory should provide more support.
The market was caught off guard regarding the Fed wanting to stay higher for longer
(I'm not sure why!)
... and seemed to have been pricing more aggressive rate cuts sooner in 2024
This could cause a repricing of risk and expectations.
Chamath Palihapitiya has told his CEO's to have adequate cash into 2025, but has revised his thinking and expects they need to have enough cash to get them through to 2026!
If more captains of industry come around to this way of thinking... the ways to generate cash on hand is to withdraw from spending and possibly laying off extra capacity in the workplace!
You see how this thinking feeds on itself and into the broader economy...
If we look back in a few years time and 2022 did prove itself to be the manic top... and there is plenty of evidence it was, in terms of sentiment and broad retail involvement (dog coins , meme stocks, NVIDIA at PE way north of 100)
WE shouldn't be too surprised!
Are we forming a Bull Flag in Carvana?Hi guys! This is a quick analysis on my opinions on a current chart pattern that may be playing out in Carvana (CVNA).
At first glance you can notice the formation of a Bull Flag on the 1 Week CVNA chart.
As you can see we have had our Sharp price move to the Upside, almost resembling a straight line up. This is known as the Flagpole. The Volume spike seen in this move is supportive of this phase.
Followed by a pause or sideways action resembling a parallelogram. Here we see diminishing Volume, which is supportive of this phase as well.
This pause is to consolidate/ take a break from such a massive uptick in price during formation of the flagpole.
Flag patterns are known to be one of the most reliable continuation patterns and are said to rarely lead to Reversal of Trend.
Currently we are in the process, on our current Daily Candle of trying to breakout.
But we are meeting with Serious Resistance, depicted by a MASSIVE Upper Wick. Ideally, i'd like to see a larger body at the close of today's candle.
Could this still lead to a break out? Well one thing to check is the VOLUME.
For a breakout to occur we need to see a Massive Spike in VOLUME.
Which we have not seen yet.
Could be warning for a test back down to the lower rim of the parallelogram. This would also lengthen the time spent in forming this pattern.
Also note that Flag patterns are normally short term patterns and shuold breakout within 1 to 3 weeks, as per theory.
We are currently 8 bars in on the weekly chart indicating 8 weeks of consolidation.
This is Not Textbook. Which has me second guessing if this is a Bull Flag.
We have so much Resistance Above us, and the massive sharp move from $3, didnt create strong market structure. This in my opinion could lead to a collapse of current move with a massive correction.
Continue to monitor this. Remember to trade a Bull Flag:
You must wait for a breakout with CONFIRMATION before you take positions.
I would personally not take a trade inside the pattern. Watch for signs of rejection here as well.
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on CVNA in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
AAPLE: Take this buy opportunity for a 186.50 targetApple remains neutral on the 1D technical outlook (RSI = 47.572, MACD = -2.560, ADX = 26.090) despite the Death Cross on the 4H timeframe. The 4H MACD just formed a Bullish Cross and the pattern since the July 19th High already bears many resemblances with last September-November (2022). It seems that the market is at the point after the Double Bottom where the price rose to Fibonacci 0.786 before getting rejected on the LH trendline. This is an short term opportunity to buy and target the new Fibonacci 0.786 (TP = 186.50).
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UiPath Bottoming & Trend Shift Signs Point to Trade PotentialHi guys! With this years bullish activity, ive been on the hunt to find assets that are down 50%+ and with unignorable strong technical signs of bottoming that will pull in bullish activity.
One that i have noticed to have some nice technical signs playing out in my opinion is UiPath,Inc (PATH).
This analysis is on the 1 Week timeframe giving us Macro insights.
First we will discuss MAJOR Macro developments that really brought my attention to PATH.
We have broken out and confirmed out of MAJOR RESISTANCE Line that expresses our major DOWNTREND.
That is indication in my opinion of a Trend Change.
This is important to see in a stock trying to bottom out.
The 2nd MAJOR Development, is the observation of an ASCENDING Triangle Pattern.
Usually its seen as a Bullish Continuation Pattern but at bottoms it can be seen as a Bottoming pattern.
If we start to see signs of a breakout and then CONFIRM Support on the Blue Flat Trendline, it would signify the Triangle is playing out and we have indeed bottomed.
The confirmation of Support would make a solid area to take positions.
VOLUME must continue to increase if we are to breakout of the Triangle.
So this next week to couple weeks will be interesting to see what happened.
Also note, that for the Triangle to play out, we need to pass some Extreme RESISTANCE. There is always a possibility of a rejection here or a fakeout so maintain vigilence and watch for CONFIRMATION.
Keep in mind also a rule of trendlines = The more we touch a trendline, the weaker it gets.
Now lets take our attention to Current Price Action:
As long as we close around these current prices today, we will print a BULLISH ENGULFING candle.
This print will also have our price action ABOVE the 21 EMA.
Though we've been above and below quite a few times, with other things playing out in the charts, i believe we have a more likely chance to continue ABOVE the 21 EMA.
Normally in UPTRENDS, staying ABOVE the 21 EMA is needed.
We will need a test of support and confirmation of maintaining it.
ALong with this, if our MACD prints a BULLISH CROSS while being above the 0 level, this would be key for BULLISH MOmentum to come in.
With MACD if the Red line in the RSI is broken and it takes the Path i drew out in black.
This would make it likely for the Ascending Triangle to play out to the measured target.
Check out my Doordash Idea to see example of Ascending triangle.
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on PATH in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Microsoft (MSFT) -> Retesting The All Time HighMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Microsoft.
Looking at the higher timeframe you can see that Microsoft stock is once again retesting the previous all time high at the $340 resistance level.
Furthermore Microsoft is also creating an ascending triangle formation so I would love to see another bearish rejection and then the longer term bullish breakout.
- - - - - - - - - - - - - - - - - - - -
I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡
NVDA ~ Long-Term Buyers ZoneNvidia ~ A beast of a company & Leader in the Semi-Conductors and Computer industry
NVDA Stock has fallen nearly 60% with the recent market downturn. Nvidia has came to levels now attractive to buyers and is finding some Long-Term Support dating back to TrendLines from Years ago & Previous Resistance Zone in the Fall / Winter of 2020/2021.
Though Nvidia had some bad news recently which has pushed it further in to this zone, long term outlook from the company has not changed one bit. As the Price of NVDA falls the value behind the stock only increases, with the p/e falling to near 35.
Earnings are continuously growing annually, and this company is a monster in Tech. Long Term outlook here is strong, and the Risk/Reward near these levels are optimal for Long-Term investors.
If NVDA Breaks Below its current demand Zone which I expect it to consolidate in, we could see a run down to $100 and then Pre-Pandemic Levels.
TTM_Squeeze also indicates bearish momentum fading on the stock.
Overall, my thesis for NVDA Long-Term (3-5 years) is strong and bullish for new fresh ATHs.
QRTEA is in a bottleneckIt appears QRTEA is facing a bottleneck once we draw the bollinger band on a weekly basis, meaning low volatility, this situation usually do not take too long before it starts to widen up. We have a positive EMA Cross which can be considered as a bullish signal. If we take both indicators together, it may be possible to expect a maeaningful ride on price during these days or weeks.
Finally we know Michael Burry invested over $1.5M on this company during 2Q 2023 at $0.99, so he was (or is) optimistic about the future of this company at that price, thus considering the current price (which is 14% lower vs Burry's), is a great opportunity to capitalize on this. Stay alert.
Support: 0.80
Resistance: 1.2
Microsoft -> A Long Term Double Top?Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Microsoft💪
On the monthly timeframe you can see that Microsoft stock once again retested the previous all time high at the $340 level and once again rejected it towards the downside.
You can also see that after the recent retracement on Microsoft, MSFT stock is approaching previous structure at the $320 level from which we could see a short term bullish bounce.
And last but not least I am just waiting for the daily timeframe to shift back to a bullish market before I then do expect a short term rejection away from the daily and weekly support area.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
Nasdaq: support bounce to feed new continuation?Today's focus: NASDAQ (NDQ100)
Pattern – Continuation
Support – 15,015
Resistance – 15,435
• The Nasdaq led US indices on Monday, adding 1.05%
• Could this be the start of a new continuation higher?
Hi, and thanks for checking out today’s analysis. Today, our focus is on the NDQ100 index, and we are watching to see if yesterday’s rally and support hold could be the beginning of a new continuation pattern. In our last report, we discussed whether price could return to the main trendline after breaking its fast trend.
From here, we want to see buyers continue to push forward. Today’s retail sales at 8:30 could be a factor, and we feel that overly strong data could hurt stock indexes. A move back to support would be a worry and could show that buyer strength is not that strong currently. If we we see price continue to rally, 15,435 could be a first test.
Another news item to watch this week will be the FOMC meeting minutes. Buyers will be looking for a dovish tone from the Fed to help support upward momentum.
Have a great day and good trading.
Advanced Micro Device Can we bounce from 21 Weekly EMA?Hi Guys! This is a Technical Analysis on Advanced Micro Device (AMD) on the 1 Week Timeframe.
Previously i posted a chart on the Daily Timeframe, mentioning of a potential breakout to the upside. But it was short lived as a fakeout, and we are down 7ish% since then.
To get an understanding of what went wrong, i decided to analyze the Weekly timeframe to get a bigger picture.
As you can see:
We have closed BELOW the SUPPORT line of the triangle.
We have also closed below this short term RED Horizontal support line.
And we are now Testing SUPPORT on the 21 Weekly EMA.
This is a Major development in my opinion.
21 EMA is used to determine trend:
->If its ABOVE = BULLISH
->If its BELOW = BEARISH
Whenever we are ABOVE the 21 EMA, its important for the BULLISH trend to have price action test SUPPORT on the EMA, every now and then.
For the BULLISH Trend to continue, we need CONFIRMATION that the 21 EMA indeed acted as SUPPORT.
But there is also the case, of the 21 EMA not being able to maintain SUPPORT.
So whats more likely in our current situation?
In my Opinion, its becoming more likely or probable that we BREAK BELOW 21 EMA.
For me and for more evidence i like to use INDICATORS.
Ive highlighted some Scenarios that mirror our current developments in the 3 indicators ive added.
Notice the Differences between how far we drop under the 21 EMA and the variations found in the indicators.
For Price action to weaken and drop below 21 EMA, 3 things need to happen:
1. RSI -> Showing the Orange line break support and move BELOW the Black line. The longer stay below and continue lower, more likely for price declines.
2. MACD -> BEAR CROSS, (Blue line below Orange line) and the appearance of Red Histogram.
3. STOCH RSI -> Below the 20 level. The longer we stay below this level, more likely for price decline
We are currently in this SCENARIO, highlighted by BLACK BOX.
So now to determine exactly how far BELOW we go, If we do break SUPPORT.
To gauge at that, we look LEFT and we look at the specific changes/ differences in the indicators.
For LARGER PRICE DECLINES like in Scenario #3 and #4
-> MACD Histogram Bars were LARGE
-> MACD Blue/Orange lines moved BELOW 0 level
-> STOCH RSI for #3 continued for about 133 days (longest compared to other scenarios).
-> RSI Orange line stayed below Black line for extended period
Now notice #1 and #2
-> The indicators didnt show extreme variations as seen in #3 and #4
-> Scenario #2 Price action was below 21 EMA for a decent amount of time but it was consolidating, rather than having a major decline.
-> Though the RSI Orange line was below the Black for extended time,
-> the STOCH RSI was at oversold area for 119 days,
-> the MACD Orange/Blue line NOT dose diving BELOW 0 level, helped price action maintain a range before moving back over 21 EMA.
We have to keep in mind though that history DOES NOT have to repeat and that a new scenario can be possible
BUT Main thing to watch is the size of the histograms of the MACD and whether or not we stay ABOVE the 0 level, in my opinion.
A level to look at is the SUPPORT line labeled "MAJOR SUPPORT".
IF we do close BELOW 21 EMA, it becomes more likely we test this line.
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on AMD in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Tesla may reverse from hereBased on the analysis, it appears that Tesla's stock price has gone through a specific pattern known as the Elliott Wave Theory (i,ii,iii, and iv looking to be completed. This theory suggests that markets move in predictable patterns consisting of five waves in the direction of the main trend and three waves against the trend. In this case, you're indicating that Tesla's stock has completed its 4th wave, which retraced approximately 38% of the prior price move.
If this analysis is accurate and Tesla's stock price is following this Elliott Wave pattern, it suggests that the stock might be preparing to enter its 5th wave. The 5th wave is typically an upward-moving wave that aligns with the overall trend of the stock. The upside may be 300-317-335 $.
However, it's important to recognize that Elliott Wave Theory, as well as the use of Fibonacci retracements, relies on interpreting price charts and patterns. While these tools can provide insights into potential price movements, they are not foolproof predictions. Market behavior is influenced by a multitude of factors such as news, events, economic data, and overall market sentiment. These factors can lead to unexpected price movements that may deviate from the predicted patterns.
Disclaimer : As a reminder, trading and investing come with inherent risks. Decisions should be made with careful consideration of various factors, including both technical analysis (like Elliott Wave Theory and Fibonacci retracements) and fundamental analysis (such as a company's financial health, competitive landscape, and industry trends). Consulting with financial professionals, conducting thorough research, and implementing risk management strategies are advisable before making any investment decisions.
Advanced Micro Device Symmetrical Triangle Break/ Swing Hi guys this is a Technical Analysis on a Swing Trade opportunity for Micro Advanced Devices (AMD) on the 1 Day Timeframe.
Crruently, we are in the process of breaking out of the Upper trend line of the Symmetrical Triangle. Notice how we are coinciding with the previous candles WICK.
Now before taking any trades, make sure that the breakout is CONFIRMED. Which i will update on the confirmation.
If would be positive for this breakout if we test SUPPORT on this Upper trendline of the Triangle.
KEEP WATCH of FAKEOUTS, where we enter back into the triangle***
Our 1st Target = $125 - $132 range
Our next target and what i'd love to see is if we get ABOVE this range and act as SUPPORT on the "MAJOR RESISTANCE" line.
This MAJOR RESISTANCE line coincides with our TOP on Novemeber 2021.
Lets look at some more CLUE that will help strengthen this breakout in the INDICATORS:
RSI -> Notice how the RSI is coiling up in this range between the BLACK lines.
-> If we break above the UPPER line, this would indicate a trend change and will be a catalyst we need.
STOCH RSI -> Is showing a BULLISH CROSS. This would inject momentum into the breakout and help it move towards Target 1.
MACD => Is also showing that we have BULLISH momentum coming in, with the print of the GREEN histogram and BUllish cross inching towards the 0 level.
-> If we get above this 0 level with the cross, it will further the Bullish Momentum case.
TRADE IDEA:
STOP LOSS 5% below the Upper Trend Line of the Symmetrical Triangle
Scale in your buy orders
CONCLUSION:
We are in the process of breaking a Symmetrical Triangle which will require confirmation for validity. The first target is highlighted on the chart, with the best course of action being us breaking ABOVE the MAJOR RESISTANCE line and having it act as SUPPORT. Our indicators are either showing signs of a bullish case or is in the process of exhibiting such signs.
Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
Shopify Corrective Move and Potential TargetsHi guys! This is a Technical Analysis on Shopify (SHOP) on the 1 Week Timeframe.
Since its not the end of the Week, we have to wait till the end of week to see how this week's candle closes.
We ATTEMPTED to break
->1. The ORANGE resistance zone above the 1 FIB level
->2. The "MAJOR RESISTANCE" labeled line that represents a RESISTANCE trend that formed from the PRICE TOP.
WE WERE REJECTED after trying for 4 weeks (july 10th to August 7th).
The 4th weeks candle closed as an ENGULFING BEARISH candle.
Note: For price to break any trend line, it requires a minimum of atleast 3 major tests
This current one in my opinion, ONLY MAKES 2 touch points.
This strengthens the reason of why we got rejected.
So far this weeks candle is showing a much SMALLER body than previous weeks.
This can be an indication that perhaps SELLING is slowing down.
But come end of week, the CURRENT BODY cannot close larger than Today August 9th Candle.
We are currently:
-> BELOW the 21 EMA
-> Breaking the RED Channel i drew out
-> 0.786 FIB Level
Heading straight to the SUPPORT zone comprising of:
1. SUPPORT Horizontal black line
2. 0.618 FIB Level
3. The base of the DESCENDING Triangle.
***Being a confluence of 3 SUPPORT levels -> I believe us to attempt a bounce from the $53.00 area, maybe to retest the "MAJOR RESISTANCE" trendline
In my opinion, its important that we can somehow get back above these key levels come end of week.
If we cant, probabilities are pointing towards a small corrective move
Especially the 21 EMA, looking left reveals patterns where price can fall for upto couple weeks to even couple months.
Which can even validate or increase the probability of the descending triangle to play out
If that happens we will test:
1. First, the 0.5 FIB level at $47.44
2. Then the 0.382 FIB level, which is also around a intermediate Resistance turned SUPPORT line.
3. Worst case scenario = Range of 0.236 FIB level at $34.91 to about $23.90
----->*****going any lower would invalidate the current MACRO BULLISH trend****
-----> But going this low can have create some bullish patterns like a double bottom. But overall its just as of now, less probable.
But we have to just focus one step at a time, worrying about a target level, if the previous trend is broken and confirmed.
Ex). -> If we break below the 0.5 FIB level and confirm, only then is the 0.382 FIB lvl likely.
The STOCH RSI is showing BEARISH move down to the 20 level, we can continue to move below the 20 level and even stay down here for weeks to couple months. But the longer we stay at low levels especially those below 20 level, price tends to decline further.
So we need to pay attention to the level it ends up at.
The RSI is testing a SUPPORT zone, below it can indicate further price drop. Also notice that the RSI line is below the BLACK moving average. If you look left, if we are below it for extended periods RSI continues to drop, along with price. Keep this in mind.
Lastly, the ADX GREEN line, is on a decline, getting close to meeting with RED line. If a cross occurs, more BEARISH momentum can enter the stock. This could increase the probably that the correction continues for a longer timeframe.
We would need GREEN line to curve up and try to get ABOVE resistance line.
Stay tuned for more updates on SHOP in the near future.
Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
FIVERR Showing Life @ Bottom Consolidation Zone Hi Guys, Welcome!
This Technical Analysis is about Fiverr (FVRR), its on the 3 Day Timeframe.
Since May 2022, we've been in what i believe to be a BOTTOM consolidation zone.
As you can see we are back around the prices where FVRR first became public.
This is about 90% from the TOP of Feb 2021.
The BOTTOM Zone is shown as the GREEN Rectangle with the RED Borders.
The Upper RED Border indicates MAJOR RESISTANCE
The Lower RED Border indicates MAJOR SUPPORT
I believe price action to be CURRENTLY moving to the BLACK RESISTANCE LINE labeled July 2021, the date being when the resistance first formed.
I believe this to be our current target as we have only touched it 2 times before.
Its been about 1 year since we've INTERACTED with the BLACK RESISTANCE LINE.
When we reach however, we will have to see how PRICE reacts with the BLACK LINE.
Since we have NOT interacted with this LINE 3 or more times, it could be a potential area for a PULL BACK, thus can be a potential SELL ZONE.
NOTE: TREND LINE theory states that for a trend line (whether resistance or support) to be broken, it requires ATLEAST 3 touches.
We have closed our RECENT 3 Day Candle Today, where the head is ABOVE 50 DMA (GREEN MA). Our next candle or couple of candles needs to CONFIRM SUPPORT above the 50 DMA (GREEN MA). Doing so will also add to the PROBABILTY we get to the JULY RESISTANCE.
KEEP IN MIND: If we DO NOT stay above the 50 DMA, we may go back down to test FIRST, the 21 EMA (ORANGE MA), if we fail that then back down to the BLACK or RED SUPPORT lines.
We need to watch how the 21 EMA (ORANGE Moving Average) reacts with the 50 DMA (GREEN Moving average). Note that the GREEN Circle with BLUE Arrow shows that when it CROSSED, PRICE moved UP.
Currently, 21 EMA is curved up, indicating that we may be close to a CROSS. This would be a MAJOR catalyst for BULLISH MOMENTUM.
Notice also how the 50 DMA has been FLAT, this may be an indication of prices stabilizing and a possibility of a BOTTOM.
Take a look at the LOWER BLACK SUPPORT LINE near the LOWER RED BORDER of RECTANGLE.
This LINE coincides with the lower BLACK upsloping line found in RSI.
-> This indicates a BULLISH DIVERGENCE, which is a BULLISH PATTERN where PRICE shows LOWER LOWS as it interacts with BLACK LINE but INDICATOR shows HIGHER LOWS.
On the RSI we are currently peaking our head over our 1st RESISTANCE. In the coming weeks we need to test this as SUPPORT and CONFIRM.
I think though, once we get ABOVE the previous HIGH in the RSI, we may be underway on breaking OUT of the CONSOLIDATION RECTANGLE.
As of posting this, STOCH RSI AND ADX are bothing indicating that we have plenty of MOMENTUM still left in the tank for this current move to continue, strengthening the probabilty we continue up to JULY RESISTANCE.
LASTLY, Notice the ORANGE Trendline labeled "From FEB 2021". This is our MAJOR MAJOR TREND LINE. Above this, we are in a Definite FVRR BULL RUN, in my opinion. It is about a 100% increase from current prices to reach here, to give perspective.
CONCLUSION:
It is likely that FVRR is either in the late stages of BOTTOMING or has already bottomed with its LAST touch of the BLACK SUPPORT LINE. We've been in this range for over 1 year, indicating accumulation. Currently, we may be in the process of moving towards the JULY 2021 Resistance line, and attempt for a TREND CHANGE. Even though traders don't have a crystal ball, evidence in the charts can help point to probabilities, 2 being the STOCH RSI & ADX which show that there is still enough Bullish momentum to push prices. Signs also point to a potential 21 EMA 50 DMA CROSS, which can help push price UP. The formation and eventual play out of the BULLISH DIVERGENCE may be a sign of a BOTTOM and also be what is needed for us to push past the BLACK RESISTANCE Line.
Hope this was insightful. Please follow, boost and comment to support my ideas and let me know what y'all think and see as well! Would love a discussion. Thanks!
DISCLAIMER: This is Not financial advice i am not an advisor. The thoughts expressed here are my opinions on TA and for educational purposes.
BULZ - Technology ETF ( AI revolution )LONGBULZ is a 3X leveraged version of the Cathie Wood ETFs. As shows on the
2H chart BULZ broke out of the fair value channel of the anchored VWAP bands
in bullish momentum Not a coincidence. In three months it has gained over 110%
or 35% per month compounded. The MACD indicator shows the lines peaking over
the histogram a cross of them is pending. The mass index indicator shows a signal
into the reversal zone and falling as if about to trigger. This is a VWAP breakout
at its best. It jumped 7 % in one day and now needs a pullback reset.
My trading plan is simple. I will watch for a pullback to the blue line one standard
deviation above the mean VWAP. I expect a bounce off that dynamic support. The trade
will be a long-duration one until the technology sector cools off. Any future pullbacks to
the blue VWAP will have an incremental add to the position. Any pops in price over the second
VWAP line above the mean ( a line not visible here) will be used to signal a sell of a portion
of the position. All in all, this will compound realized profits while underway.
Fiserv: Soon… ☺️Soon, Fiserv should reach the magenta colored zone between $134.09 and $140.81 and complete wave (B) in magenta – there is only little difference in altitude left. Once this top is placed, the share should turn downwards, heading for its next goal: the southern magenta colored zone between $108.96 and $89.26, where wave (C) in magenta and wave 4 in green should end. From there, wave 5 in green should carry Fiserv to the final top of wave I in gray, concluding an overarching upwards movement. There is a 33% chance, though, that the share could leave the next magenta zone on the upper side, developing wave alt.I in gray earlier already and thus cold-shouldering the magenta zone in the south.
IBM: Processing… 💻IBM is still processing wave b in red – the second step of a three part downwards movement, which should soon lead to the low of wave B in turquoise. As soon as wave B in turquoise is complete, the share should turn upwards to climb above the resistance at $139.47. There, IBM should conclude wave 2 in green before a significant downwards movement should take hold. However, there is a 35% chance that IBM could rise above $139.47 directly to develop a new top of wave alt.A in turquoise first before turning downwards again.
Can AAOI continue a 400% trend up ?AAOI has trended up more than 450% since May 23th. The big question is can it continue?
The factors include:
1 Volume - volume is what causes price action. Here rising volumes above the running mean
suggest that there is plenty of volume support for price action.
2. Anchored VWAP analysis is that after a pullback in VWAP levels in mid June price has been
rising and crossing VWAP levels above it. This is essentially a VWAP breakout. Price is increasingly
overbought and overvalued and perhaps due for another correction.
3. RSI of both the lower and high time frames crossed 80 more than a week ago. Thus far
RSI is stable without any sign of falling into bearish divergence.
4. The MACD lines are parallel and well above the histogram. They are at about the 9 level.
Price reversed on June 20th into the pullback. This is when the lines were at 11.7. This reasonably suggests another pullback or correction when they rise again to 11.7
Given the above, I conclude that AAOI has upside room until divergence is seen or trading volumes change to net selling volume or price outright pivots down from a high.
Accordingly, I will take a long trade expecting to capture the end of this massive trend up.
Electronic Arts: Take the Plunge! 💪As it has finished wave (B) in red, Electronic Arts should take the plunge and jump below the support at $108.53 to dive into the green zone between $119.33 and $113.17. There, the share should complete wave (C) in red as well as wave 2 in green before turning upwards again. However, Electronic Arts might also decide to develop a new top of wave alt.1 in green above the resistance at $132.87 first. We rate this alternative route with a probability of 37%.
GOOGLE: Hit the 1D MA50 after 3.5 months! Rebound ahead?Google hit two days ago the 1D MA50 for the first time since March 15th and is already rebounding. The 1D technicals are neutral (RSI = 49.273, MACD = 1.050, ADX = 30.515) indicating that the first buy in some time can be justified on the current level buy attention is required as the downside has technical extension potential.
We are taking this opportunity to place our first buy and target the R1 (TP = 130.00) but if 1D closes the candle under the MA50, we will realize the loss, sell with TP = 108.00 and then reverse to buying again (TP = 130.00) assuming the 1D MA200 holds as the long term Support.
The 1D RSI touched its HL trendline, which empowers buying on the current level.
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Booking Holdings: Reservation confirmed 🏨Booking Holdings has booked a room in our dark green target zone between $2939 and $3096 and should reach this destination via wave b in gray. During its stay, the share should establish the distinctive top of the current movement and then leave its dark green lodging on the southern side, heading for the support at $2456. However, there is a 30% chance that wave alt.b in gray could have already checked out and that Booking Holdings could start its journey below $2456 earlier. In that case, the dark green hotel room would remain vacated.
