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Bottoming

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
Displacement Technology Watch: $QSWith a lot of attention ahead of its earnings report, NYSE:QS had a volatile reaction to the report yesterday, but it is one of several companies vying for dominance in Solid State Battery technology. Auto parts are a niche sub-industry of Electric Vehicles to pay attention to for both short term and long term. From the weekly chart: The stock is building a bottom after a huge speculative run up after it IPO'd and is now in a basing bottom formation. QuantumScape was on the NASDAQ Private Market before it IPO'd. Plenty of banks underwrote it and many Preferred Clients, aka Giant Buy Side Institutions, invested during its NASDAQ Private Placement. So it had a respectable amount of investment money to start moving forward faster. On the daily chart, we can see NYSE:QS had a pre-earnings run that hit resistance which was followed by profit-taking ahead of the report. Pro traders started the run up out of what looks to be a Dark Pool Buy Zone and smaller funds chased, which is often a precursor to a volatile earnings reaction. The stock has a low Percentage of the Shares Held by Institutions at this time, which is another factor that contributes to heightened volatility, but it's one to watch as the EV landscape expands.
NYSE:QS
by MarthaStokesCMT-TechniTrader
Is JD a Chinese economy equity setting up a reversal?JD on the long term weekly chart appears to be in a descending wedge pattern which would generate a bias for a breakout upside. Price is now supported by the one standard deviation line below the VWAP bands anchored to 2019. The analysis of the ultralong term volume profile is that the Point of Control is just below price and that the vast majority of trading volume has been above the current price. I can readily presume that JD is at or near a bottom and most certainly the 1, 2, and 3 year lows. Analysis on higher time frames such as the weekly are more likely to be accurate with good signals. On the MACD signals have crossed in mid-May and now ascending in parallel toward the zero line while price is bouncing around at what I will call the bottom. Said another way, the MACD is showing bullish divergence. The upside here over a long term could be as much as 250% and much much more with a long expiration options contract. I will open a long trade here in a small position with a stop loss below the POC line and DTA into it over time whenever there is a pivot low on the weekly chart. I am confident that the Cinese economy with supposedly zero inflation will be an excellent backdrop for Chinese stocks to run higher in due time.
NASDAQ:JDLong
by AwesomeAvani
4
Battle of the New EV NASDAQ ComponentsLucid and Rivian, both new components of the NASDAQ:NDX , have been showing up on the High-Volume Institutional Activity recently. NASDAQ:LCID has the beginnings of a bottom attempt developing with a Dark Pool buy zone emerging, but it's been slow-going for this EV company. Professional short-term trading is evident in the current run up, as it is in other EV companies this week, spurred by the bankruptcy of Lordstown Motors, many would say. NASDAQ:RIVN has a clearer Dark Pool buy zone developing at this bottoming level with the same Pro Trader footprint in the current run up. This type of bottom formation provides a sturdier support level--evidence of more conviction from the institutions? Both stocks have a lot of work to do to complete their bottoms for more than short-term trading at this time. Resistance AND competition are heavy ahead, as it's still early days in the race to dominance in EV Auto Manufacturing.
Editors' picks
NASDAQ:LCID
by MarthaStokesCMT-TechniTrader
12
$COIN: Stalled for NowThe Weekly Chart of NASDAQ:COIN shows that the stock has been struggling to build a bottom despite some early buying from large lots within the sideways action of the bottoming range. Coinbase has future growth potential as an investment, but the CEO and Board need to realize that the SEC rules the securities markets and that Cryptos, as digital assets, are securities that must be registered properly. So it is likely to stall here until the Board and CEO realize they have to behave like grownups when dealing with the SEC.
NASDAQ:COIN
by MarthaStokesCMT-TechniTrader
META Layoffs: Good or Bad?Most people assume layoffs are going to drive the price of the stock down. NOPE, general consensus on the professional side is the sooner layoffs begin, the faster the company can recover from declining revenues and earnings, and reinvent. META is a stock in a sub-industry that has few members, hence it is used in many ETFs and mutual funds due to that rare sub-industry group. It has some stiff resistance shown best on the weekly chart above current price. But with support from institutional investors, the stronger support level in the bottom formation is likely to hold.
NASDAQ:META
by MarthaStokesCMT-TechniTrader
ROKU Earnings: Not Bad But Not GreatROKU has an incomplete bottom ahead of its earnings report later this week. The technical patterns don't indicate a bad report, just not a great one. There is some accumulation and a shift of sentiment around the lows of the bottom formation, which are likely to provide support. It is unlikely that this stock would drop further than the Dark Pool Buy Zone unless it has a bad report. The company has struggled with Market Saturation for a while. Some strategic partnerships recently and in the future may be what the stock needs to stabilize here to eventually begin the next uptrend. Weekly chart showing strong long-term support for the current bottom formation:
Editors' picks
NASDAQ:ROKU
by MarthaStokesCMT-TechniTrader
5
GOOG: Bottom Completion FailureGOOG shows a failure to complete a bottom. The stock moved up and above the resistance level that needs to sustain to complete its bottom, but it failed to sustain the gains. This stock was part of the last New Tech Virtual Course I did, since it is developing several new technologies for its own use and to sell to other companies. AI is the big competition area right now, so GOOG may see added volatility this year as the market reacts to AI feature releases, as it did today. But the support range at the lows of this bottom formation is strong due to a Dark Pool Buy Zone that has been consistent.
NASDAQ:GOOG
by MarthaStokesCMT-TechniTrader
DIS Pre-Earnings RunDisney is in the retail news a lot these days but the chart has a pre-earnings run in anticipation that Year over Year financials will look a lot better than it did most of 2022. This stock has been as high as $200 a share so it has plenty of room to continue upward. HOWEVER, it is over-speculated right now so profit-taking on the earnings release, good or bad, and probably a gap, are highly likely. This is WHY earnings strategies for swing traders require that you prepare 2-4 weeks in advance so that you're already in the stock ahead of the earnings report. There are smaller funds and retail groups in the mix at this point.
NYSE:DIS
by MarthaStokesCMT-TechniTrader
PCC & QQQ: PUT TO CALL RATIO / MARKET BOTTOM NEARING???DESCRIPTION: In the chart above I have included an overlapping analysis of PCC which is a PUT TO CALL RATIO INDICATOR & QQQ a LEADING INDEX in the OVERALL MARKET. POINTS: 1. A PUT TO CALL RATIO LEVEL OF 2:1 HAS ALWAYS BEEN INDICATIVE THAT A MARKET BOTTOM IS NEARING OR IN. 2. MACD is has officially shown a complete flip in buying to selling pressure by touching +0.1 and falling closer to -0.05. 3. RSI is showing a distinct decline seen in past market bottoms. IMO: With an overabundance of overall bearish market sentiment and spikes being seen in PUT TO CALL RATIO INDICATORS FOR EQUITIES & INDICES it should be safe to bet that market bottoms occur when the majority of retail investors are buying PUTS as MARKET MAKERS would not allow their CONTRACTS to EXPIRE IN THE MONEY. SCENARIO: Continuous spikes to 2 POINTS for PCC and above is most certainly a sign that a MARKET BOTTOM is in the making already. FULL CHART LINK: www.tradingview.com USI:PCC NASDAQ:QQQ
PLong
by DGSTBROKERACC
SE: Inverted head and shoulders formingSE (Sea Limited) Being 85% off its all time high, SE is trying to form a bottom here. The pattern I see on the 4h and daily chart is an inverted head and shoulders . It's a reversal pattern. Inverted head and shoulders (like head and shoulders) are only confirmed once the neckline is broken. The neckline is between 62.45 and 63.95 so I would consider a long entry for a swing trade if and only if we break 64. Just watching for now. But the chart is showing some positive signs. The target of the pattern is at 90 . Trade safe.
NYSE:SE
by Elpidaldo
2
NIO: Waiting on the Bottom for EVsThis is not actually a bottom starting yet. NIO needs to show some up and down sideways action that holds above the low of 8.40. But it is at strong support level from its IPO sideways pattern from 2018. This is a weekly chart so you can see that long-term support, which is both fundamental and technical. For ALL Electric Vehicle manufacturers, 2023 may possibly be that big growth year. It is important to keep an eye on all new technologies because when the Post-pandemic Renaissance really takes off, the speed at which EV dominates will probably surprise most people. The top 3 EV companies, Top 3 Semi-conductor companies for EV, the Top 3 companies for major components like solid state batteries, the Top component manufacturers for sensors, etc. are all up for grabs. Nobody has the lead right now. It is all about who can convert to robots and robotics faster and who incorporates solid state batteries and other component integration to meet demand. Don't worry about charging stations. Those are already being built and incorporated into gas stations everywhere, corporate offices and public transportation.
NYSE:NIO
by MarthaStokesCMT-TechniTrader
1
HD: RECTANGLE PATTERN AND FULL TECHNICAL ANALYSISHD ( HOME DEPOT ): Consumer Cyclical - Home Improvement Retail. Home Depot is included in the Down Jones Industrial Average. My technical analysis on the stock: The current downtrend took the stock 37% of its all time high of January 2022. On June 23, HD initiated a strong bounce to $333 off the $265 level. On August 17, HD initiated a huge drop back to 265, to bounce back again to the 330 zone where we currently are. The stock is currently down 22% off its all time high. Is this a buy? No one knows, but let's look at technical analysis to help us make a decision. As we see from the chart, the 265-269 zone is acting as a strong support while the 328-333 zone is acting as a strong resistance. All of the above has created a nice range in the shape of a rectangle. A rectangle is formed when the price is confined to moving between the two horizontal levels, creating a rectangle. The pattern can indicate a few things: - that the downtrend has paused and the stock is now consolidating before a continuation down. So back at the bottom of the rectangle and break down. - that the downtrend has stopped and we're looking at a change of trend. Kind of bottoming pattern. So basically it can keep ranging for a while and break to the upside OR break to the upside in the next few days. The rectangle ends when there is a breakout, and the price moves out of the rectangle. Considering the above there are several ways to trade it: 1. If you think the price will keep consolidating within the range, you can short the stock at the top of the range . Your target is the bottom of the rectangle, with a stop just above the rectangle. 2. if you have a more bullish view, you can wait for a breakout off the rectangle and go long the stock , with a stop below the top line of the rectangle. All targets are mentioned on the chart (blue lines). Rectangle ultimate target being $400. I'm leaning slightly bullish here because moving averages have started to rise, and I like the triple bottom, but who knows. Whatever your opinion is, best is to manage your risk. Trade safe.
NYSE:HD
by Elpidaldo
2
EOSUSDT Outlook and mapping out the EOY/New YearThoughts are illustrated on the chart looks like another bear flag is forming and a subsequent drop is still ahead of us. this is in conjunction with my anticipation of BTCUSD dropping after this next grind which will (imho) result in a further test of ~15k or lower Until the bottom of BTC is in, all alts will continue the same trend (which is down) This is not financial advice, but an education tool for myself to chart and assess trends.
BITFINEX:EOSUSD
by astoinis
ROKU Bottom Formation: Dark Pool Buy ZoneROKU is a good example of a high-risk sell short. The HFT gap was reversed the same day. You are looking at a Dark Pool BUY ZONE. Accumulation/Distribution confirms a shift of sentiment even as this stock turns down at a bottoming resistance level which is NORMAL and expected. The company reports earnings for the holiday season in mid February. This makes for a common timeframe for a bottom formation's base to develop.
NASDAQ:ROKU
by MarthaStokesCMT-TechniTrader
NVDA, AMD Bottom FormationsNVDA continues to work on its bottom. The Reversal Candlestick in October signaled the end of this stock's correction. The stock has plenty of growth for the future. The red line is the bottom completion level for this chart, a strong resistance level. There's strong point gain potential when the current sideways action breaks out upward. Volume-based indicators are showing slow but steady hidden accumulation. If the current sideways action breaks down, support from the buy zone is quite close. --- AMD is waffling around the U-Shaped Bottom's completion level, which is usually a quick short-term bottom. Once it can sustain within the prior trading range, it can start to develop a range that can then compress and break out. So, it has a couple of areas to work on. Meanwhile, it has sufficient past swing-style runs to be considered for a swing trading watchlist when the short-term bottom completes. If it breaks down to retest the bottom lows, beware of the support at the buy zone.
NASDAQ:NVDA
by MarthaStokesCMT-TechniTrader
COVID crash anomaly = BTC 2021 double top anomalyThe 2021 BTC double top anomaly is in my opinion a result of the covid crash in 2020. Double tops are rare. This one was the first of its kind for BTC. (gladly correct me if I am wrong) The double top of BTC on 2021 ended on an almost clean close at the 2.272 fib level. Most of people in the space know what this fib level represents. The next bull cycle top is shown on the chart, that said IF we bottom at the current levels. -Hall
BNC:BLX
by Hallvaethor