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UNH Selloff Unreasonable - Still 15% ROI Short-TermSince my first NYSE:UNH idea a couple of days ago the price of this stock dropped significantly. If you've been part of the first idea you should've been able to lock in around 1.x% of return when using a tight stop-loss. Otherwise you've been stopped out with break-even. Nevertheless, the sell-off was not helpful and is completely exaggerating the situation at UNH since the company is not really effected by the current PBM debate. "Deutsche Bank sees a potential divestiture as not having a significant impact on earnings, estimating the risk at likely less than $200M of the company’s roughly $30B+ operating earnings. Deutsche Bank noted, however, that CVS (CVS), Cigna (CI) and UnitedHealth (NYSE:UNH) 'could face additional risk from losing the ability to vertically integrate the PBM, fulfillment and manufacturing functions of biosimilars through organizations like Cordavis and Quallent.' Despite concerns about the potential breakup of their pharmacy businesses, Deutsche Bank maintained it's buy rating on UnitedHealth (UNH)." From a technical standpoint we can see a confluence of support: Weekly SMA200 Strong Trendline from March 2020 Horizontal Support at $480 UNH managed to bounce from the trendline intraday today. This could mean we're going to see a turnaround from here. If we break below the trendline on the daily chart this trade will be invalidated. Otherwise our target sits at $550.
NYSE:UNHLong
by LGNDRY-Capital
1
EUR/USD Finally Finds Some Support, But Can it Build a Bounce?EUR/USD Talking Points The strength from Q3 has been mostly erased so far in Q4, with a fast sell-off developing in EUR/USD. In late-September the pair continued to grind away at the 1.1200 handle but not even a month later the pair has dropped by more than four big figures. Support showed up at the 1.0761 level looked at on Tuesday. The big question now is whether that can lead to some profit taking from sellers, which could build a bounce and that can remain of interest for bears looking for lower-highs. EUR/USD has now traded lower for 15 of the past 20 days. An amazing trend by any stretch but perhaps even more so when compared to the strength that showed in the pair during the first two months of Q3. While that prior bullish trend put in a month of grind at the 1.1200 level, eventually failing, the bear move that’s come in response has been fast and heavy. There’s been only a minimum of pullback so far and any excuse for sellers to continue pushing has so far contributed to continuation. Last Friday brought a bit of bounce. That went along with a pullback in the USD from the 200-day moving average. But support soon showed at a key zone in DXY and bulls were off to the races (and bears in EUR/USD) after this week’s open. In EUR/USD, that resistance earlier in the week played-in right off the underside of the 200-day moving average. At this point the challenge is chasing an oversold trend as RSI on the daily remains in oversold territory on EUR/USD. There has been a bounce showing thus far at Tuesday's level looked around 1.0761. That price is the 38.2% Fibonacci retracement of last year’s sell-off, and its confluent with a trendline originating from last year’s low. EUR/USD Longer-Term Just as I was saying in September when strength was all the range, EUR/USD remains in a range that’s been in-play since last year’s open. There have certainly been some clean shorter-term trends in the confines of that ranging backdrop, and we’ve made a fast move towards the support side of that range but if we do see sellers continuing to push, those values could soon come into play. The current 2024 low plots around the 1.0611 Fibonacci level, which is the 38.2% retracement of the 2021-2022 major move. On the below weekly chart, I’ve linked that level to the shorter-term Fibonacci level at 1.0643 to create the next support zone, down. Below that, it’s the 1.0500 level that put up considerable fight for about a month before leading to a turn a year ago. --- written by James Stanley, Senior Strategist
Short
by WHSelfInvest
The Bullish Case for TESLAOne of the biggest misconception on Tesla is that it is just an Electric Vehicle Company but that is not the case. Tesla is also a Robotics, AI and energy company. If you look at it from that lens, TESLA is undervalued and has a great future!! TESLA recently bounced off the $212 Support level and believe this is the start of a bullish trend. Targeting the $300 Price point and we may even see $300 by the end of 2024. For context Elon recently tweeted this on TESLA "I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can't be overturned. Unless that is the case, I would prefer to build products outside of Tesla. You don't seem to understand that Tesla is not one startup, but a dozen. Simply look at the delta between what Tesla does and GM. As far as stock ownership itself being enough motivation, fidelity, and other similar stakes to me, why don't they show up for work?" In this tweet, Elon Musk expresses his desire for greater control over Tesla's direction as the company expands into AI and robotics. He believes that his current 13% stake in the company is not enough to make significant decisions in these areas. Tesla has a great future and as long as Elon is the captain, this ship will continue to go to mars and beyond. cheers
NASDAQ:TSLALong
by EgideSimba
4
SPX bullish - oversold and bounced off trendline support.SPX at trendline support. The most likely scenario for a short term bounce on this trend. SPX today intra day held this level and reversed course as it touched this trendline. If you short( bearish ) time to lock in some profits and for those not short or cash waiting for the opportunity to buy its time to go long or be bullish . We are also oversold here. Also generally markets do rally going into the long weekend. Starting a small long position here, would be the trade as this trendline bounce play out. Short term trade idea. We are a little long here as history repeats itself. This is not a bottom: more like a relief rally in a bear market. Note: This is not investment advice.
SP:SPXLong
by marketaction_live
1
NVDA: WATCH THIS KEY LEVEL! 🔸️Ticker Symbol: NVDA 🔸️Timeframe: 4 Hour🔸️Investment Stratey: Short TECHNICAL ANALYSIS: NVDA is currently selling off in the market but could potentially see a bounce play incoming. The largest level of support for NVDA sits at about $166. This area also acts as a bottom deviation level on our bull Regression Trend Indicator. If we take a look at our bottom dashboard we can see that our white line representing Money Momentum is still shifting out of the market and not yet making a higher low. We also have our middle band showing red meaning Bear Market Momentum. This is why I believe we could potentially see a test of $166 before a bounce play back upwards. Please let me know your personal investment strategy and thanks for following! 🔔 Follow for daily stock, crypto and forex technical analysis. ⚠️ Trading is risky and I understand nothing is guaranteed. Proper risk management should be in place at all times to minimize losses. Please consult a financial advisor before trading. All Inclusive Trading LLC is not a financial advisor and may not be held liable for any losses which may occur.
NASDAQ:NVDAShort
by TrendsiTrades
2
PLUG Bounced from Key Level Five Times! PLUG bounced from the key level 18.47 5x's! The most recent bounce occurred on July 8, 2022. Previous bounces from the key level occurred on the following dates- February 24, 2022, January 31, 2022, May 11, 2021, November 9, 2020. Identified patterns include- "Double Bottom" pattern inside of a "Falling Wedge" IMO PLUG looks good for a swing to the upside. It has strong potential to build (especially if it breaks the upper trendline on the chart). You can trade this one 2 ways. The first way is trade it to the upside with the break of the neckline (the neckline broke recently). If PLUG closes above the neckline, I will enter a swing today with next week's contract. The other play would be to wait for a break above the upper trendline. Expected move- Max move to approx. level 25. Measurement from bottom to neckline is approx. 6. Therefore, a measurement from neckline up ($6 move) is about 25. PLUG is a stock I typically don't trade but I will "plug it in, plug it in" (if you remember the old Circuit City commercials comment below lol) on my watchlist! This stock will be a fun one to swing and trade next week. I started a small swing position (20 C 22 JUL 22) on it yesterday (Friday, July 9, 2022) with an average fill price at 1.05. Plug it in, MrALtrades00
NASDAQ:PLUGLong
by MrALtrades00
A Silent Walkthrough With Breakouts & Buy Setups I have a total of about 25 tickers that I'm watching. Some have already broken out & there are a few that I'll watch closely heading into June. In this 4:28 video, I go through 12 tickers that have potential upside strength, if the market continues to bounce. These setups are all mostly double bottom plays within a range after a climatic stage 4 sell-off. Some of these can be played by using the 200MA as a guide, which I also pinpoint in the video. I use a strategy which I coined: "Hunt The Traps" I identify areas where Bears have their Stop losses sitting along with where Bulls where trapped to the wrong side of the trade. It's a very simple strategy that I also teach. The 12 tickers I went through were: #NIO #AXP #BR #PNC #V #UNH #COST #KR #LOW #NKE #TGT #AAPL Check em out within your own charts & see do you come up with the same analysis that I have. Catch yall later, Peeeeeeaaaaaccccceee!!!!!!!
NASDAQ:AAPLLong
by DayTraderEarl
4
$SBUX finding support after pre/post earnings selloff?$SBUX seems to have found a support in this range after a month long sell off leading to earnings and a nice dip after weak report Holding multiple days support on 1D with a bullish hammer going in to the week of 2/5/22 RSI 28.87 oversold on 1D MACD tight is tight - looking for continuation or cross to downside Confirmed break of $98.8 could easily see a move to $102-105 range Will be on watch to hold support and have continuation to the upside Wait for confirmations as downside is always possible with current market Looks like this one might be fun to trade for a bit! Enjoy and, as always, manage your risk!
NASDAQ:SBUXLong
by Senor_C
Looking for a bounceDaily RSI at historic Oversold bounce levels. Almost as beat up as the covid crash right now. In the past we have bounced 25%-80%+ when bouncing off this level of Oversold conditions. There is also a gap on the daily now above at these extreme conditions that needs to be filled Also in a buy/support zone on the daily Weekly Oversold 4HR at historic Oversold bounce levels 1HR at historic Oversold bounce levels Daily looking to like a potential falling wedge, at price support/buy zone, at historic oversold levels with now a daily gap above to fill. A lot of confluence and the stars aligning for a good multi-day/weekly bounce out of OS conditions
NASDAQ:CGCLong
by Natestradamus
V: Triple BounceVisa has been bouncing clearly on ema 200 and also on bull trend line, 3 times! Very clean and Rebound. Bounced off a major support level at $220 beautifully. Visa has been trading at a very rich valuation, over 40x earnings and 20x sales. Its been selling off recently, down about 10% from all time highs. MACD is bouncing to positive and there is a V bounce at RSI. Revenue growth has been strong despite the pandemic and the company continues to make acquisitions to lead the fintech sector.
NYSE:V
by yflaw1018
1
USDCAD Bounce PlayGood day traders, USDCAD has been on a down trend since Dec 2020 when the major support on the 1.3000 broke. The price has been moving within its downward channel . A possible Bounce play could happen since the current price is now sitting on the channel support line and horizontal support line at 1.20900. If this level does not break, then there is a high probability of a bounce. Another catalyst that could propel this move is the inflation rate of the US this day. If the data favors the USD, then we will see a bounce play happening for the upcoming days. If the prices manages to breakdown the 1.20900 level, it will bring the price to the next support at 1.19200 If you like this idea or any comment about it, feel free to comment. I am happy to hear your thoughts.
Long
by ginfrix