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Baseformation

TONUSD - Could be building nice Weekly Cup-and-HandleWhile it is to early to suggest, that price is prone to the break-out above 2.60 pivot. It fine to acknowledge this potential, due to favourable price and volume profile. Notice the prevalence of good weekly closes on a substantial pick-up in volume in comparison with down weeks being on much lesser volume week by week. It is yet to early to suggest the three weekly lower-lows is enough for the handle in the cup to form, but until price holds 10w MA, I am willing to consider this bullish potential. Trading thesis: I would wait for the proper pivot to emerge on the daily time-frame (preferably around 2.6 level), before establishing any positions. Although cowboy-type traders may consider any low-cheat pivot around 2.16 area to be actionable with proper risk-management tactics and discipline.
Long
by artemfedorov
UPWK - emerging from base (buy the dips)UPWK has been forming a base with neckline around 14.50 -15.35. Upon earnings announcement yesterday, it gapped up decisively on huge volume, rising a crazy 44%, and closing right at neckline. What is clear is that it could be near the end of its base building and could begin to start trending up in the coming weeks. The entry is tricky now due to its oversized move in a single day, hence I would prefer to see some pullback from here to look for opportunity to enter at the dips (fib-retracement level, candlestick reversal setups etc) A more conservative approach is long only when it has cleared the neckline above 15.35. It may sound counter-intuitive to buy at hgher prices but in actual the odds of a sustainable trend is also increased when the stock is able to clear a significant resistence (namely, the neckline). Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
NASDAQ:UPWKLong
by Juliac
4
ROKU - waiting for the breakA number of small stocks have been rising of late and some have started to break out of their bases. ROKU has been forming a Base since late last year and began to cross above it's 200 day moving average steadily since 2nd June. It is now trading right at a basing neckline @ 75 and a break up is probably only a matter of time now. Whether the break will come 1) in the very near future or 2) at least one more pullback from here (up to 50% of it's recent AB upswing) before a successful breakup remains to be seen. Volume is still light at the moment (except for a strong day on 7th June) hence the odds could favour scenario 2 at the moment. Ideally, I would prefer to see stronger than average volume for at least a week (or longer) rising into a breakup. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:ROKU
by Juliac
8
GOOG - Golden Cross in the horizon?GOOG hit into a long term support zone (83-85) on 3 Nov22 and began to form complex basing formation in the past 5 months (with some similarities to Wyckoff Accumulation Pattern). It now appears to be getting close to embarking on a more sustainable uptrend in the near future, perhaps Earnings expected on 24th of this month could be the catalyst? Signs favoring the beginning of a sustainable trend: 1. Stock is now above the 200 day MA that has begun to flatten out 2. recent pullback was shallow (38.2 % retraement of it's most recent AB swing) 3. which was also a retest of the 200 day MA and suggested this MA is likely now a near term support (100-102). It is now on the verge of retesting the high of 108.80 (the original breakup of the 200 day MA that subsequently failed) and the odds are getting better that it could break above within the next few days or week. Let's see if this works out! Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:GOOGLong
by Juliac
BHARTI AIRTEL - POSSIBLE ELLIOT WAVE COUNTSHELLO FRIENDS, Today I am sharing the possible ELLIOT WAVE counts of BHARTI AIRTEL on monthly, weekly and daily time frames. Bharti Airtel is in wave (5th) of 3rd wave of bigger impulse wave 12345. Generally as per ELLIOT WAVE guidelines, bigger wave 3 may go up-to 1.618 of fib levels which is around 1060 on spot chart and also shown in the charts given below. WAVES and DEGREES to refer and understand the chart smoothly. Bigger Wave - 12345 one degree lower wave - (12345) two degree lower wave ((12345)) three degree lower wave - (((12345))) Time frames and ELLIOT WAVE COUNTS MONTHLY - BHARTI AIRTEL is in the 3rd Wave of bigger Wave 12345 WEEKLY- It is in the ((5th)) wave of smaller degree wave ((12345)) which will complete Wave (3rd) and then after we can see some correction in wave ABC or ABCDE to complete wave 4 and after completion of wave 4, the price will again move towards north to start wave (5th) that will complete bigger wave 3rd DAILY- It is in the smaller degree wave (((1))) of higher degree wave ((5th)) which will complete the wave (3) monthly time frame chart which is showing that the price is in wave 3 of bigger wave 12345. weekly time frame chart showing that the price is in wave ((5th)) of wave (3) daily time frame chart showing that the price is in wave (((1))) of wave ((5)) It has also give a breakout of BASE FORMATION PATTERN with intensity is volume (i.e. volume is above MA) at the time of breakout, trend indicator such as MACD and Oscillators such as RSI also shows strength in price. MACD in daily MACD in weekly RSI in daily RSI in weekly Price is also above 100 Exponential Moving Average in Daily Time Frame Summary- Price showing UPTREND as per Elliot Wave and also Price has given Breakout with good intensity in volume which again supports our bullish view. Price have given close above 100 EMA which also signifies the bullish view. trend indicators and Oscillators are aligned in double time frame which boosts the importance of our view. Thus, stock is supposed to move in north. DISCLAIMER I am not SEBI registered analyst. please consult your financial advisor before investing. My studies are for Educational purpose. I am not responsible for any kind of your profits and losses.
NSE:BHARTIARTLLong
by KARANN_DINGRA
ALGN - Will earnings be the catalyst?ALGN gapped up strongly on Earnings beat during its last earning on 1st Feb23. It then subsequently corrected and partially closed the gap, finding support eventually @ 297 the previous neckline region (now tuned support) and also right at the 38.2% fib retracement of the big recent upswing AB. Since it's last Earnings, the stock had been wedging in a range but what is clear is that the bogger trend is likley still on the upside as there was a Golden Cross that occured on 14 Feb (nearly 2 month ago) with both the 50 and 200 day MA sloping up now (mild slope for the 200 day MA as it will take a longer time to refect the new trend). Plus the fact that the stock has been holding above it's basing formation neckline. Any dip back towards the neckline region (297-303) could be an opportunity to long. I suspect the coming earnings expected on 26th April could provide the catalyst to propel it above this trianglle pattern. However, trade earnings at your own risk. If trade works out, I will be watching to scale out (partially) from 425 - 455, and manage the rest of the position with trailing stops. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:ALGNLong
by Juliac
SE - Formed a BaseSE hit it's lowest point on 9 Nov22, several days before an earnings beat pushed gapedthe stock up strongly. However the rebound since had been volatile until another earnings beat on 7 Mar23 gapped the stock up strongly again, this time well above it's 200 day Moving Averae, and a Golden Cross materialised a few days later. The Gap that happened this time had remained unfilled since. The stock has clearly turned the corner. Looking to accumulate at this recent dip. However, more momentum might materialise only if and when the stock eventually is clear and stay above the neckline @ 92. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:SELong
by Juliac
Hindustan Petroleum Corporation Limited (HPCL) Hindustan Petrol Corporation Limited (HPCL) looking great as per its structure. Base formation similar to Inverse Head & Shoulder. Also its major support from where it made a new high is likely to act as a major area of support.( Left hand side marked with blue arrow on charts) Will hold it till the levels of 300 if the trade goes in our favor. Stop loss below the previous swing low 233.50 maintaining strictly. Disclaimer: So many negative news out there for the oil & gas sector. Also the results of these companies has not been great at all. However, I personally do not follow news and results matters only if you are to invest for longer horizons. My analysis is solely based on price action and I have every right to be wrong. If my view turns to be wrong then I have no issues in taking the stop loss. Therefore, do your own analysis and have your own view with proper risk management.
NSE:HINDPETROLong
by mrphil001