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Elevance - Short interest declining, buy the dip?The shorts have done extremely well here, dragging the price down by over 34%. ELV has been under severe pressure due to a miss on EPS on their last earnings report. However, they did beat on revenue (by $1.58B) but that did not stop holders exiting their positions. Unless you're living under a shell, you will know that the entire sector has been under increased public scrutiny following the death of the United Health Group's CEO. President Trump has also had some harsh words for the sector and has appointed RFK in a key position, he is not perceived as a friend of in the industry. The whole industry will likely face further scrutiny over the coming quarters, I don't expect things to change soon. Whilst there is blood on the streets (quite literally), I do feel that this presents an excellent opportunity for a patient, long term investor, who is happy to buy on the major dips and hold for the longer term. I don't see the stock falling more than 20% of the current price. Short interest has also been declining, so we should see the downside pressure starting to ease. Looking at the TA, it is not unusual for this stock to drop 30-40% from it's peak before continuing to move up. The 0.382 Fibonacci speed fan has hisotrically held as support on the major dips. We are now dipping below this level but we also have strong support below at a Monthly level along with the Golden Fibonacci support zone. ELV has historically outperformed the S&P500, so in my opinion this is a good time to think about getting involved in the sector if you have no exposure to Healthcare sector. Or you can wait for the Buy Zone to be hit around $300-330. Not financial advise, do what's best for you.
NYSE:ELVLong
by NoFOMO_
The Good, The Bad, and The Batteries Enovix (ENVX)Enovix (ENVX) Stock Analysis: Batteries, Risks, and Big Dreams "Speculation without preparation is just gambling with extra paperwork." 1. Batteries That Could Change the Game Enovix Corporation is a silicon battery innovator. From smartphones to EVs, they’re trying to power everything—if they can power through their own growing pains first. Stock’s sitting at $8.42, down 6.24% recently. A far cry from its 52-week high of $18.68. The low? $5.70. A wild ride, just like the battery tech race. Cool tech, shaky stock. Can they charge forward, or will they short-circuit? 2. Financial Roller Coaster 2023 revenue climbed 23% to $7.64M. Sounds great—until you see the $214M net loss (up 314%). Cash burn isn’t just happening; it’s a bonfire. Q3 2024 did offer a silver lining. Losses narrowed by 80% quarter-over-quarter, with EPS coming in better than expected at -$0.17 vs. -$0.21. Progress, but still deep in the red. When a company spends $214M to make $7M, the math doesn’t exactly scream stability. 3. Analysts Love It, The Market Isn’t Sure Analysts are calling it a “Strong Buy,” with a $21.22 price target—a potential upside of 134%. But with 24.59% of the float shorted, skeptics clearly have reservations. Some love the battery promise. Others see the losses, CFO departure, and volatility as too big to ignore. This stock is a battlefield between optimists and skeptics. Pick your side, but don’t forget the popcorn. 4. Malaysia Plant: The Big Hope Enovix’s Fab-2 in Malaysia is operational, producing EX-1M battery cells and prepping for mass production by 2025. Add a major smartphone OEM deal to the mix, and the future starts looking brighter. Scaling production is their golden ticket. But “mass production” often means “massive delays.” Keep watching. 5. Risks and Red Flags Leadership changes, high short interest, and the struggle to scale—Enovix has its challenges. They’re betting on their tech to win over skeptics, but nothing’s guaranteed in a high-risk, high-reward industry. If they pull it off, it’s a game-changer. If they don’t? Another tech name fades into obscurity. 6. Bottom Line: Worth the Risk? Enovix is speculative. Its tech has potential, but the road ahead is paved with volatility. For risk-tolerant investors, it’s a shot worth considering. For the cautious? Maybe wait until the story unfolds further. Disclaimer: “Investing is risky. Past performance is no guarantee of future results. Consult your financial advisor. Or don’t. Just don’t blame DCAChampion if things go south.
NASDAQ:ENVXLong
by DCAChampion
Amazon (AMZN) Stock Price Surpassed $230 for the First TimeAmazon (AMZN) Stock Price Surpassed $230 for the First Time On 12th November, while analysing Amazon (AMZN) stock chart, we: → drew two ascending channels (a long-term one marked in blue and a steeper one represented by black lines); → anticipated a test of the $200 level as part of a correction. According to the AMZN chart, since then: → the price corrected with a test of the $200 level (indicated by an arrow), aided by the median line of the blue channel; → it continued to climb within the mentioned channels, reaching a new all-time high — this week, the price hit $233. Positive market sentiment is driven, among other factors, by: → Amazon's strong earnings report for the previous quarter; → expectations of a Federal Reserve rate cut, which helped the Nasdaq 100 index reach a new record, as we reported yesterday. Can the price continue rising? Technical analysis of Amazon’s stock chart today suggests this might be challenging because: → the price is near the resistance lines of both channels; → the RSI indicator is in the overbought zone, and you can spot a bearish divergence forming (a sign of weakening buyer momentum). Given these arguments, the price could undergo a correction. If so, it might drop to the lower boundary of the short-term black channel. According to TipRanks: → 45 out of 46 surveyed Wall Street analysts recommend buying AMZN stock; → on average, they predict AMZN’s price will reach $244 within 12 months. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:AMZN
by FXOpen
2
TESLA Every pull-back is a buy opportunity. Is $1000 possible?It was almost 6 months ago (June 26, see chart below) when we made a seemingly unrealistic bullish call on Tesla (TSLA) for the time being, setting $400 as our first Target: In fact, it was 8 months ago (April 15, see chart below) when we called Tesla's exact bottom, expecting its own 'Meta recovery moment' following lay offs of more than 10% of staff: Obviously, you can say that you couldn't see that coming. Tesla not only broke above $400 but is about to hit the next psychological level of $500. In order to make better sense of this logarithmic rise and display it in a more effective way to you, we have borrowed some of our Bitcoin analysis tools: the Pi Cycle and the Mayer Multiple Bands. What you see on this chart, are the Pi Cycle trend-lines 1 (orange) and 2 (green), which have been key Resistance and Support levels respectively during the majority of Tesla's historic run, combined with the MMB SD3 above (red trend-line) and MMB SD3 below (black trend-line), which have historically been the extreme Resistance and Support levels respectively. In the middle of all these is the 1W MA50 (blue trend-line), which during the Parabolic Rally phases (like the one we are currently on), is Tesla's major Support. All the above are applied on Tesla's key historic pattern: a Channel Up, defined by its middle Fibonacci retracement levels (0.618, 0.5, 0.382) and its extremes, the -0.382 Fib (caught the June 2019 market bottom) and the 1.382 Fib (caught the February 2014, February 2021 and November 2021 market tops). At the moment the price just broke above Pi Cycle trend-line 1 (orange) and hit the 0.618 Fib. While this is a strong short-term Resistance cluster and may force some investors to take profits, every such pull-back should technically be a buy opportunity from now on, as the market as already started its Parabolic Rally phase. As you can see both previous Parabolic Rally phases hit the 1.382 Fib extension extreme, trading on the way up considerably above the 1W MA50 and with the Pi Cycle trend-line 1 (orange) as its loose Support. Even though another test of that extreme would take the stock to incredibly high capitalization levels and cannot be justified without an applicable expansion of their product lines (from electric vehicles to A.I. and robotics), a $700 - $1000 target range by the end of 2025, doesn't seem so unrealistic if those products hit the market with real world applications. In any case, every break above the Pi Cycle trend-line 1 (orange) has historically started Tesla's largest rallies (exception of course the March 2020 COVID flash crash, which was quickly recovered), so plan your strategy accordingly. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:TSLALong
by TradingShot
SMMT | Descending Triangle Pattern - Watch for Breakout & RetestSummit Therapeutics Inc. (SMMT) is consolidating within a descending triangle pattern , nearing a critical breakout zone. With price action hovering around the $18.57 support level, a breakout and retest of the resistance trendline could trigger a significant upside move. Key Setup Triangle Range: The pattern started at $27.00, with the base forming strong support at $18.00. Height: $27.00 - $18.00 = $9.00. Current Price: $18.57. Trading Plan 📌 Entry: After a confirmed breakout and retest of the descending trendline (~$19.20). 🚀 Upside Targets: Target 1: $22.45 Target 2: $24.35 Target 3: $26.85 ⚠️ Stop-loss: Below the base at $17.90 to manage risk. Volume Confirmation A breakout above $19.20 with strong volume is essential to validate the move. Watch for price retesting the trendline as new support before taking a position. Fundamental Insights Recent EPS: SMMT reported EPS of −0.05 USD, outperforming estimates of −0.07 USD. However, next quarter EPS is expected to drop slightly to −0.08 USD. Revenue Forecast: Revenue for the next quarter is projected to remain at 0.00 USD. Analyst Target: Analysts have set an ambitious price target of $33.33, with estimates ranging from $23.00 to $44.00. Also, SMMT has received a "Strong Buy" rating from 6 analysts in the past 3 months, showing strong market sentiment. Overall, SMMT offers a promising breakout setup supported by strong technical and analyst sentiment. Traders should remain patient and enter only after confirmation to minimize risk. Keep an eye on $18.57 support, $19.20 breakout level, and the exciting $33.33 analyst target. Remember, this is not financial advice — always do your own analysis. 💬 What do you think? Will SMMT hit Target 3 or beyond? Let me know below! 🚀📈 #SMMT #TechnicalAnalysis #DescendingTriangle #TradingSetup #TradingView
NASDAQ:SMMTLong
by niveshIQ
3