#Yolo play on $TAHO call optionsThis is more of a long term yolo as GOLD continues to recover.
TAHO - Entry of January 2020 $7 strike call options.
Range of $0.01 - $0.05 (Entry at $0.02 average)
This has a huge potential to sky rocket as gold continues to recover into the 1300's and higher. TAHO is also right under the daily 200sma which is key resistance for more buyers to come flying in. Projecting a minimum 500% gain in the next 8 months.
200dma
ES1!: Watch for the breakdownWith the ES1! trading around the 2,750 region, it is time to revisit and look for another set up. This time round we are looking at an ascending wedge formation with the apex coinciding with the 200-days moving average. Ascending wedges are by definition a bearish pattern while the 200-dma happens to coincide with a congestion zone between Nov to Dec. I know there is some hate in relation to moving averages but I personally feel there is some information value especially when taken in context with other forms of support/resistance.
Since I called for taking money off the table around the 2640's region, the ES1! has rocketed up another 100pts on diminishing odds of rate hikes, a second US government shutdown and higher Chinese tariffs. So what will be the bogey man this time round? I don't really know, but the whole backdrop of slower growth in the absence of tax cuts and global trade tensions just suggest buying at these levels appears to be misguided, especially with a debt refinancing wall round the corner. It is too simple to use traditional PE and PB ratios which would suggest valuations are cheap; These indicators are not adjusted for rates nor debt. Once adjusted, valuations remain elevated near the +1 standard deviation levels.
My preferred stance would be to position for a risk-off trade with an initial ABCD target of 2260.
WeedMD Slight Pullback Then LongBurst through H&S and previous resistance, forming bull flag. WEED closed +1.5% today, with WMD closing -0.5%. Divergence between these two never last. Likely pullback to 200D SMA (last support), before breaking through bull flag.
Bitcoin trends converge around 200 day Moving AverageBTCUSD down 35% YTD and trading below 200 day sma. Prior to this year, BTCUSD had not traded below the 200 day sma since August of 2016.
S&P 500 breaches 200D MA for gap down and back upAlthough we have a long down trend, we hit the 200 day moving average. From here expect strong resistance, especially approaching the initial drop zone. Look for an initial gap down on Monday and a run up from there as it did in the initial drop.
BTC strong resistance on 200 day EMAHi all, lets analyze hourly chart for BTC where we are now struggling with STRONG resistance at 200 day EMA. Breaking the level and then finding the support on top of 200 day EMA could be considered as good indicator for the end of the bear market.
Currently BTC is in uptrend, having 7 consecutive higher highs and higher lows. Breaking the below the previous low at $7728 would mean a collapse of this uptrend pattern and thus bearish movement could be anticipated (this could also be a catalyst for dropping over what some analysts see as bear flag forming on 4h chart).
Very important development on BTC is going to unfold. Be alert!
Bitcoin touched the 200 Day Moving Average This is the first time it's reached the 200 DMA since March 25, 2017 where it dipped to $895. Before that, it went below the 200 DMA on 8/2/2015 to $470.
This is the real test in terms of chart plays. Could bounce here or we could be entering a bear market.
Back to 200ma at $7500slowly getting wet here, support is weakening .. selling seems excelerating.
at this point it's likely that we test prior breakout at $7500 take notice 200ma has been catching up perfectly to it, that bounce gotta be epic.
USD/CHF Swissy longer term short play off 200dmaWe got a lovely rejection wick off the daily on Friday and it beautifully bounced off the 200dma and a falling trend line. Great bit of confluence. Stops above that wick and shoot for a 50% retrace on that type of move the 50 back gives us a RR ratio of 3.5-1. Might even get down to previous lows if wanted to stretch for longer targets but don't be greedy.
FIT BottomSupporting a bullish business/product narrative are constructive technicals including: Jun - Aug triple bottom, Above 200 Day MA, bullish RSI, ascending triangle breakout, reward > risk (see levels: break $6.72 then $7.15, opens up $9.79 then $12.67). Check out my developing story at xdaystogo.com .
Short TEX3/28/2017 TEX has left the balance area on top and is looking for support below. Next area of support (Target 1) is 28.50 and Target 2 will be the 200 Daily Moving Average.
USO at 200DMA, observing resistanceDefinitely bearish feelings here, $DXY has found support the past week and along with the small recent USD rally we find $USO has run up against the 200DMA.
The 10DMA (drawn in blue) has provided support in the past, so waiting for a break down there would be wise IMHO, although I suspect we're about to roll out the red carpet soon.
The previous oil chart I did calling for a short bounce lasted longer than I suspected, as $DXY has been weak since the beginning of the year and has just started to find something that resembles strength.
Thanks for reading, good luck to all
Apple Heading Up? AAPL cleared two hurdles today - it closed over both the 200 day moving average as well as a resistance line that has been capping the stock starting in July 2015. We've had a recent false breakout over the 200 day average before (November 3-4 2015) so we will have to give this a couple of days to make sure it's for real. Also, the stock didn't close over the April 4 high of $112.19. Nonetheless, today's advance is particularly interesting since the break over the 200 day average is coupled with a push through that multi-month trendline. Apple reports earnings in less than 2 weeks, which could be decisive in setting the short/medium term direction.
Bullish RSI divergence, 200DMA breakWeekly Chart with daily MAs.
Simple 200DMA break trade, these seem to be pretty successful.
Chose some old resistance to serve as a profit taking point, might even want to trim ~$27 and put the money to better use... if there's a fluke and we even make it there from here ;)
bullish RSI, support trend, MA convergenceThe 100DMA is converging on the 200MA, RSI has been establishing a bullish support/resistance area and price is bottoming at support again.
Leaning long with a month long horizon, entry potential at $5, or on a 200DMA break up on volume
NZDUSD TopWe hit the 200 day moving average and the channel top. Then formed a massive bearish engulfing pattern. A bearish setup. First target is $65, then $64.
DIS - Retest of 200 DMASpeculation: Disney is looking to test the 200 DMA, potentially pierce it, and then rise up with the release of Star Wars, etc..
AudChf looks like a great shortThe longer term shows a clear downward trend. Price was unable to Breakout 0.87ish area & broke down 200dma (best benchmark). Yesterday a kangaroo tail formed near 200dma resistance. This is a great Low Risk Entry Point for a short swing position. Risk-Rewaed Ratio is the best it can be. If 200dma is violated and price cleses above I would consider a Long Position
DRQ gaps down on higher volumeIf you like shorting stock in an overall bull market DRQ offers a good opportunity. It gapped down yesterday on higher volume giving a good signal to take a near-term sell.
This stock is already in a solid downtrend, trading below the 200dma. It recently formed a double top in a downtrend, broke recent support and retested it - and now it has gapped down on higher volume.
The 2010 pivot high and $70 zone will act as support to price, however, but this is around 400 points away right now which is plenty for a near-term trade.
VFC breakout on higher volumeWhile other stocks have rallied this year, VFC has been in consolidation. Although this has lasted several months, the actual price range was fairly tight, sticking around the $60 mark. After breaking out in September price retested the top of the consolidation zone before continuing it's upward trend.
Yesterdays bar confirmed a bullish flag and price is now trading a clear distance above the recent September pivot high. This stock has trended well in the past so there could be an opportunity here to get in at the early stages of a possible new wave up.
CVA bullish flag in an uptrendCVA has just printed a bullish flag in an uptrend (on Thursday's bar). This gives a good indication that price will continue to rise (no chart pattern has 100% accuracy).
However, there is not so much room for this stock to uptrend before hitting resistance at around $30 (the 2008 high was $30.37). Some breakout traders prefer to only buy those stocks which are printing new all-time highs - and there are plenty around to choose from. But there is a potential for several dollars in this one, so should not be dismissed out of hand (particularly by shorter-term traders).
The pullbacks on this stock (since breaking above the 200dma) have been a little deep on occasion but nothing to cause concern. This suggests that a good trend is in play and may be worth further consideration on the next set-up.
