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TSLA: Has finally reached its critical support (D & W analysis)!TSLA shares have corrected to the support level we identified in our last public analysis, in the vicinity of the green line at $230, between the 50ma and the 200ma. In fact, it looks like the 200ma is serving as our last support, since the price is bouncing right back after hitting this indicator. The link to my previous public analysis is below this post, as usual. Volume has fallen sharply and TSLA's shares are very weak, as it is the only one among the "magnificent 7" that is not showing any signs of recovery this week. In two weeks the company will release its earnings report, and this will be an important event, but until then, we don't see any technical signs suggesting a bottom. Yes, the price has reached an extremely important support point, but we need to see confirmation of a bottom signal to believe in a decent recovery. Despite the signs of weakness, the price is not in a downtrend yet, for that we need to see LHs/LLs. Now, let’s look at the weekly chart: From a technical point of view, the next resistance is around $300, the previous top. Can TSLA get there? In theory yes, but in practice we need to see a clear bottom signal, as mentioned in the analysis of the daily chart. You have to admit that if TSLA were going to react, now would be the perfect time, we just need confirmation. On the other hand, if the price loses the critical support point on the daily chart, nothing would prevent a sharper correction on the weekly chart, perhaps to its next support around $207, or even to the support line of its Descending Channel. This would frustrate the breakout of the previous resistance of this channel, characterizing a false breakout, a powerful bearish signal. If you ask my personal opinion, I wish to see TSLA making a bottom around this support area, as the Risk/Reward ratio for a long trade would be attractive, however, we see no confirmation yet, and there is no meaningful bullish reaction suggesting a possible recovery yet. I’ll keep you updated on this, so consider following me for more analysis like this, and support this idea if you liked it. All the best, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
9
TSLA: Approaching a major turning point.TSLA's shares are collapsing, even though the company is beating vehicle delivery expectations. This can be explained by the fierce competition coming from China, as TSLA lost its position as the world's biggest seller of electric cars to BYD in the last four months of 2023 - even though the American company managed to beat its own expectations. This not only affects TSLA, but also the shares of RIVN and LCID, the former of which also managed to exceed expectations for vehicle production. From a technical point of view, the price could fall to the next support level in the next few days, around $230 . The price is already entering a short-term downtrend , as it has lost the 21 EMA, and in the absence of a clear bullish reaction that could reverse sentiment, this is the most likely scenario. What should the price do so it can reverse this bearish sentiment? It would be nice to see a clear reversal candlestick, closing above the 21 EMA again . So far, there are no technical buy signals in my view. Are there any other possible support points? Yes, we see the 50-period and 200-period averages very close to each other, also in the $230 area mentioned earlier, reinforcing the idea that $230 could be an important support for TSLA . It would be important to see the price react above this area to avoid a Death Cross (when the 50MA breaks the 200MA downwards). A warning sign is the divergence between the RSI and the price. While the price was making higher tops, the RSI was already making lower tops, as evidenced by the red arrows in the chart above. In addition, the RSI is already losing its support levels, while the price is still above them (green lines). This can be characterized as an Advanced Breakout (when an indicator anticipates a breakout in price). For now, TSLA shares are in correction territory, and although we see a promising support zone near $230, I don't see any technical evidence that convinces me of a bullish reversal at the moment. I'll keep you updated on this, so remember to follow me for more daily analysis like this, and support this idea if you like it or learn something new here. All the best, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
2
INTC: Bullish Shark and Breaking Back Above The 200 Month SMAIntel has made a full reset down to the PCZ of a perfect Bullish Shark Harmonic on the Monthly Timeframe and it went below the 200 Month Moving Average to do so but it was short lived as price only a month later managed to get back above the 200SMA and close above it. I now believe that we could atleast see price test the 50% - 61.8% Retraces above but if the Dow reaches all time highs as i am somewhat leaning towards then we may see Intel make an even more surprising and extended move to the upside from here beyond the .618 retracement.
NASDAQ:INTCLong
by RizeSenpai
Predict Bitcoin's Price with "W" pattern from the 50 and 200 MA 50 MA in blue, 200 MA in green. There is a "W" pattern where the 50 MA also crosses under or over the 200 MA. It can be useful in short-term and long-term trading. If the pattern repeats itself, with your ruler you can see that there should be a correction for the next 2 months (according to the previous corrections in the bull run which are about the same length). It’s also interesting to look at how deep the second correction, or “V”, will go. In the W pattern of End 2019 (October) - Middle 2020 (May), the 2nd dip was deeper than the first and it resulted in a bull market. We could argue that it also happened back in July/August 2014 – October 2015. In the W pattern of Middle 2021 (May) - End 2021 (October), the second dip was higher than the first and it resulted in a bear market. We therefore have to wait to see if there will be a correction and how deep it will be, continue to use indicators, and find patterns.
BITFINEX:BTCUSDShort
by YanakTrading
BTC/USD 1 Week ChartOn Monday, BTC had finally crossed above and broke through its major resistance area located on this 1 week charts at $32,415 - $27,785. Note: BTC is still in a Rising Wedge Pattern as well as an Upwards Channel Pattern. BTC is still in a massive Megaphone/Broadening Wedge Pattern otherwise known as an Ichimoku Y-Wave Pattern. Take Note of the Liquidity Voids. Note that the 50MA is moving upwards so if we continue having positive momentum, we will eventually see a Golden Cross on this BTC/USD 1 Week Chart when the 50MA (Yellow Line) crosses back above the 200MA (Red Line). Here is a closer look at this BTC/USD 1 Week Chart. RSI: Note that the RSI has crossed into the Overbought Zone. Don't panic! The RSI Line can continue continue going further upwards as well as range sideways in this zone. Up/Down Volume:
BITSTAMP:BTCUSD
by TradingThroughTheLens
3
EUR/USD: Potential Short Trading OpportunityEUR/USD Daily EUR/USD tested the 200-Day Moving Average at 1.0802 on Wednesday. Our team expect the pair to remain under pressure, because: - The SuperTrend Indicator shows strong downtrend - The price is below the psychological zone 1.0900 and the resistance level 1.0930 SUGGESTED TRADE: SELL EUR/USD - If the price close under the 200-Day Moving Average and under the psychological zone 1.0800 - SELL EUR/USD ENTRY - around 1.0780 after daily candle close under the 200-Day Moving Average and 1.0800 SL - 1.0940 TP1 - 1.0645 TP2 - 1.0533 Client Sentiment: Retail trader data shows 61% of traders are net-long. We typically take a contrarian view to crowd client sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall. Traders are further net-long than the last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias. Please, Support Our Work with Like & Comment! Thank You!
Short
by ForexWithTsanev
A Closer Look at the Dow JonesLast week was volatile on the markets. Many indices have been corrected (a fall in value after a previous period of rise). The fear of interest increases following the speeches of the members of the FED and the Chinese economy which worries despite the support plans of the Chinese government. I am therefore focusing today on the Dow Jones. Founded in 1896 by Charles Dow and Edward Jones, the Dow Jones is an index made up of 30 major American companies. It reflects the overall health of the stock market in the United States. Bullish Scenario: Testing the Waters In the wake of last week's turbulence, the Dow Jones is now poised to challenge its previous resistance level, which had effectively capped its price for the past year. The close of trading on Friday witnessed a late-day surge in stock prices, indicating a resurgence of buying interest. The candlestick chart suggests a potential rebound, bolstered by a concurrent bounce on the oblique support line. Bearish Scenario: Keeping a Watchful Eye However, it is prudent to consider the bearish scenario as well. If the current support line fails to hold, there exists a possibility that prices could find support at the 200-day moving average, an essential metric used to assess longer-term market trends. Failing this, the next support level looms around the 32,500 point threshold. In conclusion, the Dow Jones remains in the spotlight as investors navigate through this period of market volatility. Its performance in the coming weeks will undoubtedly serve as a litmus test for the broader U.S. stock market, shedding light on the intricate interplay of economic factors and investor sentiment.
TVC:DJI
by ssavi
The daily chart and the 200 day MA The daily chart and the 200 day MA are known to provide a really good trading opportunity – not always but frequently. When price has spent some time below or above the MA and it crosses over to the other side, you should be watching this. If price retests the MA and gets rejected, you may have an opportunity to catch a multi-day runner. In the USDTHB chart here, you can see that price has crossed over above the 200dma. It is starting to pull back towards it now and possibly will stall either at the major support at 35.20 or the MA. If we get a clear sign of being rejected and a bullish candle prints above the MA, it is a good sign to take a long. If such PA develops, you could be in for massive profits IF you stay patient and committed. Also, check out AUDUSD for a similar setup. Once again, we are only watching and trading this on the daily chart. Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my content, please give it a “thumbs up” and follow me to get even more.
Education
by Trading_Vista
SCIB stock time to shineSCIB (Sarawak Consolidated Industries Berhad) Sector : Industrial Products & Services Market : Main On 8 May 2023, the price manage to breakout the 200-Days MA. This indicate the stock moving toward a positive long term uptrend. Supported with huge volume 93M. Currently the volume still highest, we assume next week(19-23 May) will occur some pullback or profit taking. The Mansfield RSI show that the price is trading at positive area (above 0) indicate that a buying interest already on mood. We optimist based on the Fibo the price will continue rising area 0.715 - 0.810.
MYX:SCIBLong
by NazrinAzmir
4
Stock Market Death Cross, Impending Earnings RecessionRSP was trading below the 200 day moving average in the after hours. I wonder if it is going to open that way tomorrow. Also the 63 day moving average, which represents the quarterly moving average has fallen below the 200 day moving average as well. Not too often does this happen and more downside doesn't follow in the weeks to come. From a pivot point perspective the total market is also trading below the pivot entering the month of June signaling that although mega caps have rallied in a major way, the average analyst consensus is a bearish stance. I say that as we've recently seen recent reports that further margin contraction is under way and an earnings recession later in the year is coming. Check out the Equity Channel Podcast on Apple, Amazon and Spotify to learn more about stock trading and investing.
AMEX:RSPShort
by D1Finance
🟥 NASDAQ's Deceptive Rally MARKET OVERVIEW: 📈 The NASDAQ Composite index seems to be in a buoyant mood, painting a rosy picture of the overall market. However, upon closer inspection, it becomes evident that this rally is highly concentrated and powered primarily by the FANG (Facebook, Amazon, Netflix, Google) stocks. In fact, the large market caps of these tech behemoths are heavily skewing the index, making it appear as if the entire market is thriving, when in reality, it's only a select few stocks that are soaring high. DIVERGENCE: THE REAL CONCERN 🚫 The true concern lies in the divergence between the NASDAQ Composite and the market participation line. The former is marking a higher high, while the number of stocks above their 200-day moving average (a common benchmark in technical analysis) is making a lower high. This indicates that a significant proportion of the market is underperforming, even as the index itself continues to rise. Currently, about 2/3 of the market is trading below their 200-day moving average, a situation eerily similar to what we witnessed in 2021. IMPLICATIONS: A SHORT-TERM WARNING ⚠️ This divergence presents a short-term ominous sign for traders and investors alike. Buying into a market where only a fraction of the stocks are driving the rally while the rest are struggling could potentially lead to considerable losses. It's imperative to interpret the NASDAQ Composite's performance with a pinch of salt, keeping in mind that it is not reflective of the broader market's health. CONCLUSION: PROCEED WITH CAUTION 🚦 In conclusion, despite the NASDAQ's apparent strength, the market is exhibiting a deceptive rally. The majority of stocks are not participating in this upward momentum, which is a significant cause for concern. It's recommended to approach this market with caution, and consider this divergence when making investment decisions. It's not a market scenario you would want to blindly bu​y.
INDEX:NCTHShort
by TintinTrading
Have You Considered A Ride Down IWM 170? AMEX:IWM 50 MA crossed down the 200 MA on the daily and 4H timeframe. The daily chart shows a lot of sellers. IWM also made lower highs on the weekly timeframe. Also, the exchange traded fund is resting on a trendline that it's maintained since March 2020! If we break down below 170 and it holds, IWM should see more downside. The weekly chart shows an increase of sellers between last week and this week. Last but not least, the etf shows a shooting star candle that printed on the weekly chart (March 13-17, 2023). Therefore, my plan is to short IWM below 170! I will ride down IWM 170 (provided price gets there of course). *This is not financial advice Peace & Harmony, MrALtrades00
AMEX:IWMShort
by MrALtrades00
Bitcoin 200wk avg Resistance at $25k-ish$25k has been the hard top in Bitcoin recently, with a nice floor being put in at $20k. $20k price support stems from the high set during the crypto bubble in 2017/18 and has historical value. $25k price resistance is coming in the form of the 200-wk average, an average that Bitcoin has never closed below let alone trended below before in the chartable price history going back to 2011. Price being below the 200wk average is also historically significant. The lower indicators are trying to turn bullish: -The PPO is close to a bullish cross above the 0 level, just waiting on the purple base line to join the green signal line above 0. -The TDI is showing the green RSI line in a tight range between the 50-60 level, just keeps bouncing off each one these past few weeks. A move above 60 would be bullish and what we want to see as more bullish price confirmation. $20k is the support level to watch in price, a failure to hold there would likely mean a re-test of $15.5k. $25k is the resistance level to watch in price, a successful breach above there would likely mean a test of $30k next. No trading for me, just stacking Bitcoin weekly since September when price first fell back down to $20k. I will continue to buy weekly as long as I can keep my cost average below $30k.
BITSTAMP:BTCUSDLong
by PrepForProfit
5
VET/USDVET/USD very quick update. Here is a closer look at this VET/USD 1 day chart: VeChain is in a new smaller Descending Channel which is in a massive Descending Channel. VeChain is also in a massive Symmetrical Triangle. At the moment of typing this, VeChain is still in the Bullish Zone above its Ichimoku Cloud. At the moment of typing this, VeChain is still above its 200MA. Note that the 50MA is still traveling upwards so we may eventually see the 50MA cross above the 200MA on this 1 day chart. Not that overall traded volume is still very low compared to what we were getting from 2018 to 2021. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is dropping with the ADX (Orange Line) at 36.08 and under its 9 Period EMA (Black Line) which is at 39.52. Positive Momentum has dropped with the +DI (Green Line) dropping to 19.73. Negative momentum has also dropped a little with the -DI (Red Line) slightly dropping to 15.87 on this 1 day chart. I hope this very quick update is helpful.
BINANCE:VETUSD
by TradingThroughTheLens