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Bottomformation

Beyond Basic Candlestick Pattern AnalysisLearning to Recognize Who Is Controlling the Stock Price There is a plethora of training on Candlestick Pattern Analysis and interpretation, and yet this remains one of the most problematic areas for Technical Traders who want to trade at the expert level. Once the basics of Japanese Candlestick Patterns are understood, it is time to move up to the next tier of analysis. That is being able to recognize not only where a pattern is, but also who forms that pattern, why they are capable of creating that pattern, what automated orders generate that pattern, and which Market Participant Groups react or chase that pattern. Nowadays it has become critical to include Volume with Candlestick Analysis, because this provides the basis for recognizing which Market Participant Group created that candle pattern. Candlestick Pattern Analysis at the expert level involves more than just one to three candles. Instead it includes a larger group of candles in the near term. This is what I call "Relational Analysis." This is especially useful for Swing Traders, Momentum Traders, Velocity Traders, Swing Options Traders, and Day Traders using Swing Style Intraday action. The NYSE:RAMP chart is an excellent example of a Candlestick Pattern for Swing Style Trading. See where High Frequency Traders (HFTs) took control of price, and gapped the stock down for one day on extreme volume. Selling did not continue the following two days, and Volume was above the Moving Average, but much lower than the High Frequency Traders' spiking Volume pattern. This was the first accumulation level for this stock. Dark Pools started buying the stock even though High Frequency Traders were selling, since they typically miss this initial buy mode of the giant Institutions. High Frequency Traders typically create the final gap down to the low which, if it reverses quickly, indicates a Buy Zone area for the Dark Pools. These patterns are what I call "Shifts of Sentiment." They happen in bottom formations where buying is generally dominated by the Largest Institutions' quiet accumulation. The next phase will be when Professional Traders and then High Frequency Traders discover the Dark Pool accumulation. The bottom is not complete, but it shifts sideways if more Dark Pools decide to buy.
NYSE:RAMPEducation
by MarthaStokesCMT-TechniTrader
Upwork a calm before the storm? Will we have a massive Bull run?Hi guys! This is a Macro analysis on Upwork (UPWK). Macro meaning larger timeframe aka the 1 week in this instance. Alot of stocks are down fromt heir previous tops. Which means potentials for longterm gains for many names are possible. I try to make sense if things have the technical signs to buy or not. For UPWK -> some interesting signs were observed. It was observed in comparison to previous patterns seen in the price action and indicators. Note however, past data does not reflect certainty. It does not need to repeat as is. But again the resemblance is in your face! And it is something to keep in our minds. Starting with price. Notice the "Major Resistance" black trendline. Price has been historically above it or below it with major moves seen. Above it = Massive Bull Run Below it = Downtrends followed by consolidation. Being relatively new public company, we only have 1 data point to use. Now notice the previous green box marked. Red trendline shows the downtrend in price, followed by a black trendline that highlights the beginning of the uptrend before massive bull run. Before we get ABOVE the "Major Resistance" trendline, we consolidate for a period of time in the orange rectangle. That then catapults prices significantly higher. Notice Volume is seen to spike as well. Also notice the indicators added: STOCH RSI during price actions time inside the orange rectangle (consolidation) moves down. As soon as it crosses Bullish, prices shoot out of the consolidation zone and above the Major Resistance. Notice too the MACD, the pattern here is that it stalls here becoming almost flat, with histogram bars turning light green, as it turns Dark Green and Blue line curves up, this signals the price to shoot out of consolidation, moving above "Major Resistance". Fast forward to our current data. We are repeating almost to the tee, the same pattern. Will it be the same? Or will we be rejected? Well, we need 3 signs to occur. STOCH RSI must cross BULLISH (Blue line above orange line) MACD needs Dark Green bar print with increasing size and Blue line to Curve UP VOLUME Must start to increase/ spike Without these 3 signals it is more likely we get rejected here! Another thing to observe is the consolidation or rectangle pattern. Remember its never a good idea to trade within any chart pattern. A confirmed break above will determine uptrend. A confirmed break down will cause rejection. Very important to continue to observe UPWK. Ill be sure to update as things become clearer! __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on HOOD in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:UPWK
by SafofAllTrades
8
Bottom Formation with Dark Pool Buy Zones: DISNYSE:DIS reports earnings next week and is attempting to complete the bottom formation that started last summer. The stock must now sustain above the bottom completion level at $95. Even though the market is over-speculating many index components, this stock is more likely to have sideways trends or platforms if the price holds above the new support level to complete its bottom. Dark Pool buy zones are evident within the bottom formation, providing fundamental and technical support.
NYSE:DISLong
by MarthaStokesCMT-TechniTrader
Swing Trading Signals, Momentum Patterns: TPRLuxury fashion brands are popular for speculation heading into the holidays. With a few points to the bottom completion resistance, NYSE:TPR has a swing trading entry signal, 2 in a row now. Resting days that create a narrow consolidation can be powerful momentum-building patterns for short-term trading. Swing trading, rather than day trading, these setups can net better profits. Position trading needs to wait for a stronger support level to build for an entry, which usually occurs when the bottom formation completes.
NYSE:TPRLong
by MarthaStokesCMT-TechniTrader
Coinbase Textbook Bottoming Pattern Found Hi Guys! This is a Technical Analysis of Coinbase (COIN) on the 1 week timeframe. As you can see we have drawn out a Inverse Head & Shoulder Pattern forming in COIN. This is a textbook pattern as it follows to the t the necessary criteria both in price action and volume. Stages of the Price Action Downtrend to form Left Shoulder The rally from Left Shoulder does not breach the Neckline Downtrend from peak of rally to form Head The rally from the Head also does not breach the Neckline Downtrend from Peak of rally to form Right Shoulder The rally from the Right Shoulder breaches the Neckline A Return move from the breakout back to Neckline -> This stage we are currently playing out Volume Signs of Textbook Inverse Head & Shoulder 1. Left Shoulder has taller volume bar (higher volume) than Head Volume 2. Lighter volume or shorter bars seen for Head than Left Shoulder 3. The rally from Head to Right Shoulder has increasing volume that exceeds volume of the rally from left shoulder to neckline 4. DOwntrend to Right Shoulder -> shows a declining volume bar height / declining volume 5. Sharp Spike on Volume during rally from Right Shoulder to Neckline breakout 6. Declining Volume during current move, the Return Move Thoughts: Both times we rallied from the shoulders we reached a Resistance zone and got rejected. I believe we are currently in the "Return Move" to test the Neckline as Support -> The areas i am looking is: 1. 0.5 FIB Level, this is also where the 21 EMA converges so a Support zone to watch This area is important because it is the "Golden Zone" for FIB, as well as where the 21 EMA is at. This makes this area a place to observe for potential bounce. Though i believe this to be short lived. 2. Testing Support on the NECKLINE SUPPORT line 3. This one is least likely but nevertheless still possible, the 0.382 FIB Level, a potential scenario being a WICK down from testing support on Neckline After testing these levels i believe that Coinbase will start its Bull run where it has tremendous growth in market cap A first target would be breaching the Resistance zone and confirming it as Support. Take a look for yourself. Experts let me know what yall think! Stay tuned for more updates on COIN in the near future. Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:COINLong
by SafofAllTrades
2
Is DocuSign Bottoming out?This is a Technical Analysis for DocuSign, Inc. (DOCU) on the 1 Week timeframe. Our current price action is being squeezed by a Symmetrical Triangle. We are currently testing SUPPORT on the Black trendline. The space inside the triangle is tight. This move is getting very very close to playing out and may be in the process now. If we break to the UPSIDE, our 1st target = BLACK Resistance line around $58-59 Our next target would be the RED Resistance line at around $67-68. If we break to the DOWNSIDE, our 1st target = around $46 Our 2nd target = $41 Now whats more probable? Upside or Downside? In my opinion, We move to the Downside. Some evidence exists that i believe will support a downtrend. Before i continue, i just want to add that Price declines should not be viewed as a negative thing. Its part of the normal nature of the markets. In this case, i think this decline would help support the next move Up in DOCU. Especially noting that in my opinion, DOCU is trying to set a BOTTOM. Now notice the RED arrow pointing down. This is my downside target ($41) and what i think will help DOCU's market structure. If we hit this, it will indicate a DOUBLE BOTTOM formation, which would be a probable area for a bounce. This would also be a catalyst for momentum to enter for price to move towards "MAJOR RESISTANCE" level. ANother clue that supports my downside targets, is the printing of the Gravestone Doji candle, week of June 5th. This is extremely BEARISH candle pattern. It may have not been priced in yet and we have yet to see the effects of this candle. To see further signs of what is to come, lets look at the INDICATORS. Firstly, RSI -> Notice how we are also in kind of a triangle pattern and that its getting tight for RSI as well. We need to see what it does next also, whether breaks to upside or downside. WHich ever direction, it will also coincide with the movements of price. STOCH RSI -> shows momentum, we are currently in the process of printing a BEARISH cross. If its confirmed, then this could put momentum that pushes price DOWN ADX -> Is another momentum indicator. Currently we are in this weak momentum zone. We have to watch the interations between GREEN and RED. If RED moves ABOVE = BEARISH momentum -> this will support a price decline If GREEN moves ABOVE = BULLISH MOMENTUM -> this will support a price increase CONCLUSION: We are in a tightening Triangle pattern, one directions got to give. Whether up or down is yet to be determined. However, my thoughts are leaning more towards a DECLINE. The gravestone doji candle, supports the idea of further decline and creating better market structure would also add to a decline. But a decline is not a bad thing, if we get one. It becomes probable for a DOUBLE BOTTOM and signs of a bottoming out of DOCU. Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
NASDAQ:DOCUShort
by SafofAllTrades
2
Beyond Meat Bottom Pattern Formation SpottedHi Guys! This is a Technical Analysis on Beyond Meat (BYND) on the 3 Day Timeframe. I believe we are in the process of forming an Inverse Head & Shoulders Pattern. Currently in the process of solidfying the Right Shoulder. Which i believe will/ can take couple weeks to form before rallying past neckline. So far every part of this pattern has been textbook. SUCH THAT -> Every part of the Head & Shoulders that formed, the VOLUME has reacted a specific way. Stages of the Price Action 1. Downtrend to form Left Shoulder 2. The rally from Left Shoulder does not breach the Neckline 3. Downtrend from peak of rally to form Head 4. The rally from the Head also does not breach the Neckline 5. Downtrend from Peak of Head rally to form Right Shoulder 6. The rally from the Right Shoulder breaches and moves above the Neckline 7. A Return move from the breakout back to Neckline 8. Test of Support and a bounce from here going above the peak of Right Shoulder Rally So far we've hit Stages 1-4. We are currently in the process of forming the Right Shoulder and completing stage 5. We need to pay attention on the completion of the Right Shoulder and the next stages of the Inverse Head & Shoulder, particularly this next potential RALLY. It MUST Breach and move above the NECKLINE. Volume Signs of Textbook Inverse Head & Shoulder 1. Left Shoulder has taller volume bar (higher volume) than Head Volume 2. Lighter volume or shorter bars seen for Head than Left Shoulder 3. The rally from Head has increasing volume that exceeds volume of the rally from left shoulder to neckline 4. Downtrend to Right Shoulder -> shows a declining volume bar height / declining volume After the formation of the Right shoulder we need to see: 1. Sharp Spike on Volume during rally from Right Shoulder to Neckline breakout 2. Declining Volume during the Return Move So far so good. And we need to continue to pay attention to make sure all the criteria is being hit. Now targets for Right Shoulder Rally, is hard to tell. BUT the previous rallies could not pass the RED RESISTANCE ZONE. So im thinking we can move into it but we dont get ABOVE it. We need to watch the VOLUME -> there has to be a sharp spike on volume during this rally. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on BYND in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy
NASDAQ:BYND
by SafofAllTrades
3
Doordash Bottom Formed, Strengthens idea to go LongHi guys! Welcome to an analysis on macro developments of Doordash (DASH). With the markets doing what they've been doing this year, we have to ask, " Will the % gains come to stocks that are still many many % down from their tops"? Or are some stocks just doomed to fizzle out and take time to re-build/ grow? Well, if we are in a Bull market, which i personally think we are... Assets with Solid Market Structure & Technicals will also be included into the liquidity being injected into the markets. Taking a glance under the hood with DASH, i can see some promising developments playing out. Making me consider DASH as a Long play. This analysis is strictly on Technicals and is on the 1 Week timeframe to get a big picture view. From the Lows of Doordash we ended up forming a Ascending Triangle Pattern. We ended up with a clean break, followed by 3 weeks of testing supporting at the breakout point, the flat trendline. Ascending triangles are usually Continuation patterns. BUT at market bottoms, it can act as a Bottoming pattern. The breakout of the Ascending Triangle allowed us to break resistance at the time, now turned SUPPORT. We hit our measured move of the Ascending Triangle, to the T. We ended up retracing back to the Resistance turned "Support Zone (Green rectangle). We tested support for 2 weeks, followed by the print of a Bullish Engulfing Candle (last week) which confirmed our Support here. The reason to go long here is of 2 folds: 1. The presence of a bottoming pattern, the Ascending triangle in this case. 2. The confirmation of MAJOR SUpport at this "Support Zone". These 2 things enhance our chances of price gains to the "MAJOR RESISTANCE" line. This would be a Major area to take profits. ALong with these, my MOmentum indicators are showing potential for BULLISH momentum to come in. STOCH RSI is crossing Bullish, once it moves ABOVE the 20 level. This will indicate Positive momentum to come into this asset. ALong with MACD, last week printed a Dark Green histogram. This shows strengthening of Bullish momentum. We are also ABOVE the 0 level, as long as we stay above with a BUllish cross, probabilities of further Price Gains are likely. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on DASH in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
DLong
by SafofAllTrades
BionTech Fastly Approaching Major Resistance, Will we Break?Hi Guys, this is a Technical Analysis on BionTech (BNTX) on the 3 Day Timeframe. We are currently approaching a MAJOR RESISTANCE Trendline. This Trend started from the TOP in 08/2021. Everytime we've interacted with it in the past, we've been REJECTED. Will we get Rejected again? Well, we've had 3 touch points already. In trendline theory, it states that atleast 3 touches are required before a trendline is weak enough to break through. So, it is possible that a break can occur. With risk of new variants, hospitalizations of COVID increasing and a push of government to get people to get boosters, this could be a chance for Trend change to UPSIDE for BNTX. BUT just looking at it in a pure TA lens, i wouldn't just start buying now. I would wait for a break above the Trendline and CONFIRMATION above it. Also with the break, note that VOLUME should be spiking and increasing. We should not see a DECLINE in Volume as we break through. That can be signs of a FAKEOUT. We are also reaching some Resistance from a Support line turned Resistance line. Now lets look at our indicators for more evidence. RSI -> We've had the Lowest RSI reading on May 09,2023 EVER in BNTX history. This could be a catalyst for more buying pressure and a trend change. We also broke above RSI Red Resistance line. MACD-> A momentum indicator, has crossed BULLISH, below the 0 level. If we continue this bullish momentum and the Blue/Orange lines move above the 0 level, this can be inject the well needed momentum for BNTX to increase in price. STOCH RSI -> Is also in a BUllish cross and it shows that theres plenty of room for momentum to continue. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on BNTX in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:BNTX
by SafofAllTrades
2
UiPath Bottoming & Trend Shift Signs Point to Trade PotentialHi guys! With this years bullish activity, ive been on the hunt to find assets that are down 50%+ and with unignorable strong technical signs of bottoming that will pull in bullish activity. One that i have noticed to have some nice technical signs playing out in my opinion is UiPath,Inc (PATH). This analysis is on the 1 Week timeframe giving us Macro insights. First we will discuss MAJOR Macro developments that really brought my attention to PATH. We have broken out and confirmed out of MAJOR RESISTANCE Line that expresses our major DOWNTREND. That is indication in my opinion of a Trend Change. This is important to see in a stock trying to bottom out. The 2nd MAJOR Development, is the observation of an ASCENDING Triangle Pattern. Usually its seen as a Bullish Continuation Pattern but at bottoms it can be seen as a Bottoming pattern. If we start to see signs of a breakout and then CONFIRM Support on the Blue Flat Trendline, it would signify the Triangle is playing out and we have indeed bottomed. The confirmation of Support would make a solid area to take positions. VOLUME must continue to increase if we are to breakout of the Triangle. So this next week to couple weeks will be interesting to see what happened. Also note, that for the Triangle to play out, we need to pass some Extreme RESISTANCE. There is always a possibility of a rejection here or a fakeout so maintain vigilence and watch for CONFIRMATION. Keep in mind also a rule of trendlines = The more we touch a trendline, the weaker it gets. Now lets take our attention to Current Price Action: As long as we close around these current prices today, we will print a BULLISH ENGULFING candle. This print will also have our price action ABOVE the 21 EMA. Though we've been above and below quite a few times, with other things playing out in the charts, i believe we have a more likely chance to continue ABOVE the 21 EMA. Normally in UPTRENDS, staying ABOVE the 21 EMA is needed. We will need a test of support and confirmation of maintaining it. ALong with this, if our MACD prints a BULLISH CROSS while being above the 0 level, this would be key for BULLISH MOmentum to come in. With MACD if the Red line in the RSI is broken and it takes the Path i drew out in black. This would make it likely for the Ascending Triangle to play out to the measured target. Check out my Doordash Idea to see example of Ascending triangle. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on PATH in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NYSE:PATHLong
by SafofAllTrades
Virgin Galactic In the process of Bottoming out? Hi, this is a Technical Analysis on Virgin Galactic (SPCE), it is viewed on the 1 Week timeframe. Our current candle is currently in the process of breaking out BELOW our UPSloping Support Trend Line, highlighted by the RED circle. Note: The candle closes, end of trading session on 7th of August, Monday. Meaning our current candle is not accurate, so we need keep a close eye. If we close ABOVE, our trend continues, giving us yet another week to tread along and hopefully break our ressistance trend lines. Our RESISTANCE is 2 FOLD 1. Upper Resistance line of DOWNWARD CHANNEL 2. RED HORIZONTAL LINE above us If we close BELOW, it means we are attempting a "Trend Change", but this candle alone is not enough, We would need to look for CONFIRMATION. This can be way of a specific single candle printing or a candle pattern formation. (I will be sure to update in the coming weeks). Our 1st Target would be the BLACK Horizontal Support line below Our 2nd Target, which is also a CRITICAL ZONE is our STOCK LOW @ around $3.11, depicted by RED LINE ->Below this, we form a lower low and make NEW LOWS Our 3rd level would be where Lower BLACK line of the DOWNWARD channel and PRICE meet, below the RED Horizontal line. Our overall DIRECTION currently, is DOWN. Evident by the DOWNWARD CHANNEL drawn with BLACK lines. **Until PROVEN OTHERWISE**. -> For us to break the downtrend, we need to break and CONFIRM ABOVE the upper trend line of DOWNWARD CHANNEL. So when im looking at the current candle, im thinking its MORE PROBABLE we go down. Notice how the Week of June 12th and June 20th, we had Large Upper Wicks form, this indicates SELLING PRESURE. The pressure was due to convergence of resistance of the BLACK and RED Resistance lines. The pressure from this event, can be whats pushing our price down. My thought process is that i actually want PRICE to hit the LOWER SUPPORT LINE of the CHANNEL. Doing so, as long as the RSI maintains Higher Lows will lead to the formation of a BULLISH DIVERGENCE. This leads to prices MOVING to the UPSIDE, in most cases. Can be a BOTTOMING pattern, in my opinion. Now lets look to my indicators for more evidence. RSI is getting tight in this symmetrical triangle pattern. We will soon see a breakout ABOVE or BELOW. If we break BELOW, look to the RED line, we want to stay above here for the possibility of a BULLISH DIVERGENCE to be in the picture. ALso note: Symmetrical triangles usually break out to the upside. ORANGE RSI line, should also stay ABOVE the Black moving average. Look left, everytime we CONFIRM below, PRICE DROPS DOWN. STOCH RSI, is in the process of a BEARISH CROSS, this if confirmed on Monday will bring in momentum to push prices DOWN. ADX which is also a momentum indicator, I would like to see the BLACK moving average, curve up, GREEN Line also curve up breaking out of the upper border of rectangle. This would indicate to me that a large amount of bullish momentum is coming in. CONCLUSION: Overall, i believe SPCE is in the process of carving out a BOTTOM. Its evident by the range highlighted by rectangle, we are in some sort of CONSOLIDATION. Our current price action must be observed. In the chance we do CONFIRM below and go lower in price, it will provide great entry levels for BUY ORDERS. If we also hit the lower support trend line of the down channel, the potential for a BULLISH DIVERGENCE may become more probable. With all the evidence being presented, it is important to observe SPCE to see what it does in the coming Weeks to Months. Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
NYSE:SPCE
by SafofAllTrades
7
Beyond Meat Chance for more Turmoil ExistsHi Guys! This is a Technical Analysis on Beyond Meat (BYND) on the 3 Day Timeframe. Ive been following BYND for a long time, trying my best to scope out a BOTTOM. This is an UPDATE to my ongoing analysis. So check out my other charts below for more context. **Note: Our Current Candle has just begun today 08/14/23 and will close on 08/17/23 We were doing well until we got rejected by the MAJOR RESISTANCE ZONE (Red zone) Even after we got rejected we did well staying ABOVE the 50 SMA. But we were not able to sustain SUPPORT and fell through. We also broke back down below the MAJOR RESISTANCE Trendline from June 2021. Until proven otherwise, the breakout ABOVE this trendline is now a FAKEOUT. It is absolutely CRUCIAL we get ABOVE this TRENDLINE this WEEK to continue our Trend change attempt. And also get back above and confirm SUPPORT on 50 SMA. The Longer we stay below the chance of further PRICE DECLINE is more PROBABLE. This can be a Good and Bad thing. Bad especially for those who have bought BYND at higher prices. But very good in the sense that it would create a sense of no return. This can lead to a necessary capitulatory event where people basically give up, laying the foundation for prices to finally start increasing. The next levels to watch are the labeled SUPPORT areas: 1. RED Support TrendLine 2. Black Resistance tuned SUPPORT trendline 3. MOST IMPORTANT -> Horizontal Support line labeled MAJOR SUPPORT 4. Last defence = Dashed Red Support Line -> If we do break & CONFIRM below the RED Dashed line, this would be the Capitulation event where everyone gives up. COuld be a potential scenario to go LONG. It also would, provided the indicators match/support the pattern, STRENGTHEN the BULLISH DIVERGENCE thats forming. (For more info on the DIVERGENC, look at my previous charts on BYND BELOW) Now with our Indicators, there are clues in the history that indicate and support further turmoil. Notice our STOCH RSI We are currently in a BEARish move down to 20 level. The last 2 times we reached here, we stayed below the 20 level for 59 days and 56 days. This caused prices to drop significantly. We would need to have a quick BULLISH cross and move back upwards or not stay below for extended period of time. Along with the STOCH RSI, pattern in the RSI when found in correlation with identified pattern in STOCH RSI supports the PRICE DECLINES. -> The pattern is when the Orange RSI line crosses below the BLACK line and stays below for extended periods can hint at price DECLINES. Stay level headed, wait till the end of the Week for Clarity. There is always a chance we get back above and continue upwards. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on BYND in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:BYND
by SafofAllTrades
Is Oatly Dead? Is it going to 0?Hi Guys! This is a Technical Analysis for Oatly (OTLY), on the 3 Day Timeframe. New candle starts today So the question here is whether or not OTLY is dead and if its going to 0? It may seem like that but when "Checking underneath the hood" with TA, things become clearer and you can understand whats going on objectively with a level head. So we've come down signficantly from around the highs of $29, about a 95% drop to current prices. And its been alooooong time we've been on this downtrend, about 781 days. In my case though, the question i've been asking with Stocks such as OTLY or SPCE or BYND or CVNA (before the massive run) is whether or not there are signs of bottoming? And with such a new stock, it can be a little difficult to assess since theres not as much data points to go with. But you can still make do with what you got! We are Currently 4 RED candles in, watch the size of our current candle. IF at the CLOSE of this current candle, the body of it is small, that can be an indication of BEARISH momentum decline. Notice how we got our most recent DOWNTREND, it is due to the RED circle that indicates price hitting a convergence of Resistance: 1. the 50 Simple moving average 2. a RESISTANCE trend line from 08/2022. We are now nearing our previous low of around $1.35. Which is MAJOR SUPPORT. Notice the 2 GREEN CIRCLES -> Provided we don't breakdown below $1.35, this can be a DOUBLE BOTTOM pattern. We have to watch the next couple weeks of how we interact with SUPPORT. NOTE: This MAJOR SUPPORT hasnt had 3 touches, which in TREND theory, it states that usually a minimum of 3 touches are needed on trend lines for it to be significant. So, this can be an area we BOUNCE from in the SHORT-Term -> back to the BLACK resistance line or RED Resistance line There is also a RISK of a Descending triangle playing out, where we break below the "MAJOR SUPPORT". Measured Target would be $0.58-0.60 cent level. But again TA is about taking it 1 step at a time. To even think about this i would need: 1. Candle close BELOW MAJOR SUPPORT 2. CONFIRMATION -> In the form of candle patterns -> Re-test of the SUPPORT turned as RESISTANCE and a Rejection back down. It absolutely does not have to play out this way BUT a scenario could be that we bounce from here, test the 08/22 RESISTANCE and come back down to test MAJOR SUPPORT level. It is also possible that we MOVE SIDEWAYS (Within ORANGE Rectangle zone). With the Volume currently in a DECLINE, marked by the BLUE moving average. This means volatility will come down, leading to the probability of sideways action. Now Check out the RSI, we have printed a Lower Low. This could lead to further DECLINE of RSI. WE are also BELOW the BLACK RSI Moving average, which can be indicative of further price declines. STOCH RSI, is making its way below the 20 level. We will have to see how long we stay once we get below it and how low we actually get. Longer we stay below, higher the probability of further declines. MACD -> a momentum indicator, is currently printing RED histograms. This is a BEARISH Signal. We dont want the bars to get massively big in size. CONCLUSION: Price declines of massive proportions can be extremely scarey and a place for capitulation, where people give up. This often times leads to further decline of price. However through all that, if you stay level headed with TA, you consider or pose the question..... Yeah, but is it showing any BOTTOMING signs? OTLY is 95% from its lows, we are currently back to MAJOR SUPPORT. This can be indication of a DOUBLE BOTTOM but in my opinion, its still too EARLY to tell. Especially with indicators still showing signs of a chance for more downside. I would need to see confirmation. Stay tuned for more updates on OTLY in the near future. Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
NASDAQ:OTLY
by SafofAllTrades
EUR/USD possible deep dig before reversal.My belief for this pair is that price will continue down into the stops of long consolidation periods in January and December. When I see long consolidations, I see very impatient participants. So far buyers been in heat from a down move that lasted 3 weeks. Price is reaching my levels. Truth is that the market may not care about my levels. And that's fine. Maybe it's not meant to be. All I know is that the closer it gets, the higher the probability of it hitting them. So I'm only interested if they are reached. When they are reached and worked down thru, I know that panic is ramping up and I'm paying attention to the large timeframe pattern. My drawing is an overall idea of how I think it will play out so don't take it as a 1:1 ration prediction. I also approach this as a long and steady outlook. Price could easily collapse down but I think it's more likely that the low will be worked long and steadily. I'm not into what's going on with the news, what indicators are showing, whether price action looks weak or strong, and I don't do support/resistance lines. My predictions are based on what I perceive to be more financially adventitious for institutions and right now I see a ton of money below. When everyone is calling a bottom right at or near already established ''support'' my comfortability is much more deeper. FX:EURUSD
Long
by PEAKFINDER
GE: Strength Ahead of Earnings ReportThis old company struggled to reinvent after the banking debacle destroyed its consumer financing division. Older companies CAN reinvent and start a new life. I'm showing the Weekly Chart first so you can see the support zone below and the strong resistance above, where the stock may head sideways for a time. Around $67 is the high of a completed short-term bottom that provides strong support for the current price action. The stock entered the strong resistance level of the Trading Range highs of 2021 - 2022 with what I call a "pre-earnings" run. On the daily chart: GE had a strong momentum run ahead of its earnings report. This was a pre-earnings run, which tend to develop 2-4 weeks ahead of the earnings release. The company is reporting Tuesday this week. The strong reversal candle on Friday after 2 down days is also an indication that the report will be good.
NYSE:GELong
by MarthaStokesCMT-TechniTrader
1
BABA: Bottom's in, now what?The bottom formation is confirmed with rising Accumulation/Distribution and a nice, controlled base at the low. This is evidence of a Dark Pool Buy Zone, aka accumulation zone, where bargain hunting has occurred. But a bottom formation is a sideways pattern first, before it becomes a sustained uptrend. Resistance overhead is strong, so swing traders should be planning their exit strategies at this time, to get out soon profitably if you took the trade as it moved out of the base. Position traders will have stronger entries with lower risk when bottoms breakout to "complete." We have a market that is range-bound for most stocks, most of the time, which can be a difficult market for KEEPING profits. Bottoms provide some of the most lucrative trades, but it's important to follow a set of rules according to your intent for the trade, to get the best results. You can learn more about this at my website.
NYSE:BABA
by MarthaStokesCMT-TechniTrader