NQ Power Range Report with FIB Ext - 10/23/2024 SessionCME_MINI:NQZ2024
- PR High: 20521.00
- PR Low: 20490.50
- NZ Spread: 68.0
Key scheduled economic events
10:00 | Existing Home Sales
10:30 | Crude Oil Inventories
Maintaining range between 20600 and 20300.
Session Open Stats (As of 12:15 AM 10/23)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 277.72
- Volume: 15K
- Open Int: 245K
- Trend Grade: Bull
- From BA ATH: -3.1% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
Volatility
ACHC buying opportunityNASDAQ:ACHC buying opportunity, imo
Acadia Healthcare Company, Inc. (ACHC) is a provider of behavioral healthcare services, operating inpatient psychiatric facilities, residential treatment centers, outpatient clinics, and therapeutic school-based programs.
Key Information:
Sector: Healthcare (Behavioral Health)
Market Cap: ~$7 billion
Business Focus: Acadia Healthcare specializes in the treatment of mental health and substance use disorders. The company operates facilities across the U.S. and the U.K., offering services such as acute inpatient psychiatric care, residential treatment for adolescents, and addiction recovery programs.
Recent Developments:
Acadia Healthcare has benefited from the growing demand for mental health and addiction treatment services, particularly in the wake of the COVID-19 pandemic, which highlighted the importance of behavioral health services. The company continues to expand its network of facilities and partnerships to meet this demand.
Acadia is seen as a key player in the growing behavioral health market, and the stock could offer growth potential as awareness and need for mental health services increase globally.
ELV buying opportunityNYSE:ELV buying opportunity, in my opinion.
Elevance Health, Inc. (ELV), formerly known as Anthem, Inc., is a health benefits company that provides medical, pharmaceutical, dental, behavioral health, and other insurance-related services to its members. It operates through affiliated health plans, primarily under the Blue Cross and Blue Shield brand, in the United States.
Key Information:
Ticker: ELV
Sector: Healthcare (Health Insurance)
Market Cap: ~$100 billion
Business Focus: Elevance Health provides a range of health insurance products and services, including individual, group, and government-sponsored health plans. The company serves millions of members across the U.S. and is focused on improving healthcare outcomes while reducing costs.
Recent Developments:
Elevance Health is one of the largest health insurance providers in the U.S., playing a key role in the managed care industry. The company has been focusing on digital health and data-driven solutions to enhance patient care and outcomes. Given the increasing focus on healthcare technology, they continue to invest in improving access to healthcare services while managing costs.
This stock is considered a relatively stable investment in the healthcare sector, benefiting from the growing need for healthcare services and insurance coverage.
NQ Power Range Report with FIB Ext - 10/22/2024 SessionCME_MINI:NQZ2024
- PR High: 20544.00
- PR Low: 20514.50
- NZ Spread: 66.0
No key scheduled events
Maintaining the range of previous 3 sessions
Session Open Stats (As of 12:45 AM 10/22)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 284.51
- Volume: 22K
- Open Int: 239K
- Trend Grade: Bull
- From BA ATH: -3.5% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
Wipro Ltd. (NSE: WIPRO) - A Technical Analysis PerspectiveIntroduction: In the ever-evolving world of stock trading, staying ahead of market trends is crucial. Today, we delve into the technical analysis of Wipro Ltd. (NSE: WIPRO), a prominent player in the Indian stock market. This analysis will provide insights into the stock's recent performance and potential future movements, making it a must-read for traders and investors alike.
Chart Analysis: The daily chart of Wipro Ltd. reveals a fascinating journey of price action over the past year. The stock has experienced significant fluctuations, marked by distinct patterns and trends that offer valuable insights for traders.
Key Observations:
Ascending Triangle Pattern:
From November 2023 to March 2024, Wipro's stock price formed an ascending triangle pattern. This pattern is characterized by a series of higher lows, indicating increasing buying pressure. The breakout from this pattern in March led to a substantial upward movement, reaching a peak around 580 INR.
Rising Channel:
Post the breakout, the stock entered a rising channel, with higher highs and higher lows. This channel is evident from June 2024 to the present. The upper and lower trendlines of the channel provide crucial support and resistance levels, guiding traders in making informed decisions.
Volume Analysis:
Volume plays a pivotal role in confirming price movements. Notably, there was a significant spike in volume during the breakout in March, validating the upward trend. Recent volume surges in October indicate renewed interest in the stock, potentially signaling another breakout.
Current Price Action:
As of October 21, 2024, Wipro's stock is trading at 550.60 INR, showing a modest gain of 0.36%. The stock is currently testing the upper trendline of the rising channel, a critical juncture that could determine its next move.
Conclusion: Wipro Ltd.'s stock chart presents a compelling case for traders and investors. The ascending triangle breakout, followed by the rising channel, highlights the stock's bullish momentum. With recent volume spikes and the stock testing key resistance levels, it is essential to monitor Wipro closely for potential trading opportunities.
Stay tuned for more updates and insights on the Indian stock market. Follow us for the latest technical analysis and trading strategies!
#NSE #StockMarketIndia #Wipro #TechnicalAnalysis #Trading #Investing
NQ Power Range Report with FIB Ext - 10/21/2024 SessionCME_MINI:NQZ2024
- PR High: 20523.75
- PR Low: 20496.00
- NZ Spread: 62.25
No key scheduled economic events
Minor weekend gap up, quickly filled
- Maintaining previous week range
Session Open Stats (As of 2:35 AM 10/21)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 288.63
- Volume: 18K
- Open Int: 238K
- Trend Grade: Bull
- From BA ATH: -3.3% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
UROY an energy penny stock LONGUROY basically sells rights to mine uranium for a percentage of the production. It is a penny
stock in the nuclear subsector of energy which is undergoing a renaissance in this era of
fossil fuel addiction detoxification in the context of climate change remediation agendas.
The 240 minute chart shows a parabolic move in mid January followed by consolidation
and capitulation into a double top all at about the first anchored VWAP line above the mean
followed by a trend down into the present level near to the first lower VWAP line.
I will take a long trade here targeting the mean VWAP confluent with a standard Fibonacci
retractment which is the green line on the chart. $.05 is taken as a safe stop loss at the lows.
The target is 0.40 upside yielding a R:r of 8. I have positions in URA and UEC at this time.
The entire uranium subsector is cycling from warm to hot again.
NQ Power Range Report with FIB Ext - 10/18/2024 SessionCME_MINI:NQZ2024
- PR High: 20413.50
- PR Low: 20377.00
- NZ Spread: 81.5
No key scheduled economic events
Quick auction return back to Tuesday lows
Session Open Stats (As of 2:15 AM 10/18)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 298.31
- Volume: 25K
- Open Int: 248K
- Trend Grade: Bull
- From BA ATH: -3.7% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
Price Action Trading Analysis: Chennai Petroleum Corp Ltd
Price action trading is a method of technical analysis that relies on historical prices to predict future price movements. In this analysis, we'll focus on Chennai Petroleum Corp Ltd (CHENNPETRO) on the National Stock Exchange (NSE). The chart spans from October 2023 to October 2024, showcasing significant trends and potential trading opportunities.
Upward Trend and Trendline Support
The chart reveals a clear upward trend with some volatility, marked by significant peaks and troughs. An ascending trendline provides key support levels, with the price bouncing off this line multiple times. This trendline acts as a reliable indicator for traders to identify potential entry points.
Key Observations
Support and Resistance Levels:
The trendline serves as a strong support, with the price repeatedly rebounding when it nears this level.
Resistance levels can be observed at the peaks where the price struggles to break through, creating potential selling opportunities.
Volume Analysis:
Volume bars at the chart's bottom indicate trading activity. Notable spikes in volume often precede significant price movements, suggesting heightened investor interest.
Analyzing volume trends helps confirm the strength of price movements and potential reversals.
Daily Price Movements:
The price action shows daily fluctuations, with the current price at INR 956.00, reflecting a change of +27.05 (+2.91%).
Monitoring daily movements and changes provides insights into market sentiment and potential short-term trends.
Trading Strategies
Trendline Bounces:
Traders can look for buying opportunities when the price approaches and rebounds from the ascending trendline.
These bounces provide low-risk entry points, with the trendline acting as a natural stop-loss level.
Breakouts:
A breakout above resistance levels, especially with increased volume, can signal the start of a new upward leg.
Similarly, a breakdown below the trendline support could indicate a reversal, prompting short-selling opportunities.
Volume Confirmation:
Confirming price movements with volume trends enhances the reliability of the signals.
High volume during upward movements suggests strong buying interest, while low volume during pullbacks indicates weak selling pressure.
Conclusion
The price action of Chennai Petroleum Corp Ltd (CHENNPETRO) showcases a robust upward trend supported by an ascending trendline. By analyzing support and resistance levels, volume trends, and daily price movements, traders can identify potential entry and exit points. Leveraging these insights helps enhance trading decisions, contributing to more informed and potentially profitable trades.
NQ Power Range Report with FIB Ext - 10/17/2024 SessionCME_MINI:NQZ2024
- PR High: 20335.50
- PR Low: 20318.75
- NZ Spread: 37.25
Key scheduled economic events
08:30 | Initial Jobless Claims
- Core Retail Sales
- Philadelphia Fed Manufacturing Index
11:00 | Crude Oil Inventories
Maintaining Tuesday lows
- Inventory response off daily Keltner 20 average
Session Open Stats (As of 12:35 AM 10/17)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 295.53
- Volume: 17K
- Open Int: 242K
- Trend Grade: Bull
- From BA ATH: -4.2% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
BTC is moving earlier then what I was expectingBTC moved above the downtrend consolidation channel earlier than I anticipated, with volumes confirming this change in trend.
The breakout occurred on the 14th of October.
Currently, there is a low chance that the price will return to the bottom of the channel at 53k-50k, in my opinion.
I guess the price will just retest the top of the channel at around 64k-62k and continue to the upside, probably to the higher part of the channel at around 73k, maybe a little more.
On the weekly chart, volatility is still low on BBWP (13th percentile), while on the daily chart, it is at the 63rd percentile, with extremes around the 85th-95th percentiles.
So, there is still momentum to continue to the upside.
NQ Power Range Report with FIB Ext - 10/16/2024 SessionCME_MINI:NQZ2024
- PR High: 20352.00
- PR Low: 20306.00
- NZ Spread: 102.75
No key scheduled economic events
Swing back below Monday's low
- Inventory front run Keltner avg cloud
Session Open Stats (As of 12:35 AM 10/16)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 306.42
- Volume: 19K
- Open Int: 240K
- Trend Grade: Bull
- From BA ATH: -4.0% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
NQ Power Range Report with FIB Ext - 10/15/2024 SessionCME_MINI:NQZ2024
- PR High: 20640.75
- PR Low: 20614.25
- NZ Spread: 59.5
No key scheduled economic events
New month highs, holding in previous session highs
Session Open Stats (As of 12:35 AM 10/15)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 297.77
- Volume: 16K
- Open Int: 254K
- Trend Grade: Bull
- From BA ATH: -2.7% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
Significant Move Expected for Walgreens Boots AllianceToday, Walgreens Boots Alliance (WBA) is highly volatile with an IVRank of 102.6, indicating elevated implied volatility.
The expected move is ±11.78% in the near term, showing potential for significant price swings.
Skew across expiries suggests a stronger preference for calls, as evidenced by the CALL skew of 36.5%, particularly notable for the 11/15 expiry where the IVx is 102.7%.
Despite a slight IVx decline across some expiries, the volatility remains high, signaling traders are bracing for large earnings-driven moves.
Weekly GEX of SPX | Option Chain Analysis for Option TradersI’d like to share my thoughts below after analyzing the SPX option chain. In this analysis, I focus exclusively on the weekly time range, examining the SPX option chain and the changes in top-tier options metrics.
🔶 Breakout and Bullish Outlook
Last Friday's price action saw the SPX break through the 5800 call gamma wall, generating strong bullish momentum . This breakout opens the door for further upward movement throughout the week, especially if buying pressure persists. Breaking through a call gamma wall often leads to a rapid price increase, as these levels act as resistance, but once broken, they support further upward moves.
However, caution is advised, as additional call gamma levels (around 5850 and 5875) could act as resistance, where the price may stall. These levels can reverse roles and, if the price falters, could act as significant resistance, potentially leading to a pullback toward the 5800 level.
🔴 Put Skew and IVx Changes
The put pricing skew on the Options Oscillator shows a declining trend, meaning that while put options are still more expensive than calls at equivalent strikes, this trend is softening when looking at the November expiration. This indicates a weakening of put options relative to calls, which could be another bullish signal as demand for puts may be declining.
The five-day IVx average declining , indicating a decrease in market volatility = VIX is melting down.
🟨 Backwardation and Diagonal/Calendar Strategy Opportunities
It's also worth noting the 10.5% backwardation based on the IV skew for the expirations between 10/18 and 10/21 (4/7DTE). This backwardation (downward sloping volatility curve) could benefit calendar and diagonal spread strategies, as options with different expirations have varying volatility conditions.
🔶 GEX Wall Levels: Where Is Support and Resistance?
🔹Gamma Exposure (GEX) levels continue to play a crucial role in the market’s movements:
🔹On the upside, the largest call gamma wall for the next 7 days is at 5850, while the 5875 level may also act as significant resistance. The 5875 is a more likely a realistic bullish target, supported by the Options Overlay’s blue OTM delta 16 probability curve.
🔹On the downside, the 5750 put support level currently offers strong support, with sellers forming a barrier here. The 5800 level is also interesting because it was the largest call gamma level last week, meaning there could be significant volatility as bulls and bears battle around this point.
(NOTE: GEX levels is not part of the TanukiTrade Options Overlay indicator yet. The automatic GEX levels will be available by the end of October.)
🟨 How Delta 16 Curves Define My Rational Price Range in Options Trading
The blue OTM Delta 16 curves from the Options Overlay define the rational probability range for me based on a lognormal distribution. This is important because there’s a 68% chance the price will stay within this range by expiration. These values are also visible in the Overlay Expiry table.
This represents the 68% probability range defined by OTM 16 delta PUTs and OTM 16 delta CALLs, showing a clear directional expected move value. It provides an insightful view of the expected price movement’s directional range, often used by delta-neutral strangle traders like those at TastyTrade.
⅀ SPX Summary
The SPX options chain is showing a bullish direction with the breakout above 5800, but it will be key to watch the gamma levels where the market might stall this week. The rising IV and declining put skew trend could provide further signals that the bull market might continue, but the possibility of resistance or a pullback remains. For those considering diagonal strategies, the backwardation may offer interesting opportunities to capitalize on.
(NOTE: GEX levels is not part of the TanukiTrade Options Overlay indicator yet. The automatic GEX levels will be available soon, by the end of October!)
Regression Channel for Predictive Price Analysis - LAURUSLABSUnderstanding the Regression Channel
A regression channel is a powerful tool in technical analysis, helping traders identify and predict price trends. It consists of a central regression line flanked by parallel lines, forming a channel that contains the majority of price movements.
Step-by-Step Guide to Drawing a Regression Channel
Identify the Trend: Start by identifying the trend you want to analyze. In this chart of Laurus Labs Ltd., we observe the trend from August 2023 to October 2024.
Draw the Regression Line: The central regression line represents the best-fit line through the price data, minimizing the distance between the line and data points. Use charting tools like TradingView to draw this line automatically.
Add Parallel Lines: Draw parallel lines above and below the regression line to form the channel. These lines should encompass most of the price data. The distance between the regression line and the parallel lines is typically determined by the standard deviation of the price data.
Using the Regression Channel for Predictive Analysis
Trend Identification: The upper boundary of the channel acts as a resistance level, while the lower boundary acts as a support level. Price movements within these boundaries are considered normal.
Reversal Signals: If the price breaks through the upper or lower boundary, it may signal a trend reversal. A breakout above the upper boundary suggests a bullish trend, while a break below the lower boundary indicates a bearish trend.
Entry and Exit Points: Traders can use the boundaries of the channel to determine entry and exit points. Buying near the lower boundary and selling near the upper boundary can be a profitable strategy.
Volume Analysis: Volume bars at the bottom of the chart show trading activity. Green bars indicate buying pressure, while red bars suggest selling pressure. Pay attention to volume spikes during price movements.
Conclusion
Drawing and analyzing a regression channel provides valuable insights into price movements. For Laurus Labs Ltd., the channel helps identify key levels where the price may stall or reverse, guiding your trading decisions. By understanding how to draw and interpret this channel, you can enhance your predictive analysis and improve your chances of success in the market.
NQ Power Range Report with FIB Ext - 10/14/2024 SessionCME_MINI:NQZ2024
- PR High: 20443.75
- PR Low: 20407.50
- NZ Spread: 81.25
No key scheduled economic events
- Technically a US holiday
Maintaining Thu-Fri range
Session Open Stats (As of 12:45 AM 10/14)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 300.40
- Volume: 19K
- Open Int: 251K
- Trend Grade: Bull
- From BA ATH: -3.7% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
ShortThe irregular volume on this is unsustainable for this asset as well and its likely to drop rapidly.
CHF/JPY October Forecast: Bearish Divergence and Key Sell Setup
CHF/JPY October Market Structure and Trading Analysis
In the CHF/JPY pair, the October monthly structure reveals an open high-low-close pattern, which points towards a potential sell setup. As of now, we are awaiting confirmation through a TDI (Traders Dynamic Index) cross to validate entry points for sell trades.
Key Technical Highlights:
1. Bearish Divergence: A clear bearish divergence has been forming since July 19, 2024 , extending to the current market price. This divergence signals a potential shift in market sentiment, suggesting a downward move may be imminent.
2. Open High Structure on Daily Chart: The daily timeframe for October continues to display an open-high structure, reinforcing the bearish outlook for the month.
3. Overbought Market Conditions: The price is showing signs of being significantly overbought following a strong bullish breakout from October 1, 2024. This overbought condition makes the pair vulnerable to a correction, further strengthening the sell setup.
4. TDI Cross for Confirmation: A bearish cross in the TDI indicator will provide confirmation of the presence of sellers in the market. This signal is crucial before initiating sell positions.
Take Profit Levels:
- Take Profit 1: 172.000
- Take Profit 2: 170.750
- Take Profit 3: 170.000
Trading Recommendations:
Patience is key—wait for clear, valid signals such as the TDI cross to confirm entry points. As always, exercise caution and apply proper risk management when trading to protect your capital.
If you find this analysis insightful, please like, leave a comment, and follow for more updates. I will happily follow back. Good luck with your trades!
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NQ Power Range Report with FIB Ext - 10/11/2024 SessionCME_MINI:NQZ2024
- PR High: 20440.00
- PR Low: 20426.00
- NZ Spread: 31.5
Key scheduled economic event
08:30 | PPI
Previous session closed relatively unchanged
- Holding week highs, daily inside print
Session Open Stats (As of 2:05 AM 10/11)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 309.33
- Volume: 17K
- Open Int: 251K
- Trend Grade: Bull
- From BA ATH: -2.6% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
NTL New Talisman Gold Mines LtdBuying long term position in high risk gold miner today
Exploration company but just purchased plant to start producing gold...
Technically this has bollinger band squeeze at $0.023 cents per share - it definitely is a penny stock! don't think I've ever bought something so low in 20 years...!!
Could have massive reward to risk if it turns profitable i.e. reward to risk >50X
I'm happy to lose the entire investment in this as the potential reward to risk is massive (and very rare...) especially in businesses that are involved in producing something of value that is tangible...
High risk for sure, but I believe they have done 11 years of research and starting to buy equipment to produce so they see value there...