Breakdown
*****great short candidate*****NASDAQ:FEYE Trading 5, 20, 50day MA's. Also below 1, 2, and 3day VWAPS. Sell short below 16.49. Don't chase it if it gaps through the trigger. let it settle down first.
***GREAT BREAKDOWN CANDIDATE***NASDAQ:SWKS trading below 1,2, and 3 day VWAPs. look for a bounce at the open and short on the way down below yesterday's low. don't participate if it gaps down. let it settle first.
Good breakdown potential.NASDAQ:GILD Look for a bounce first at the open and short on the way down below 5day moving average 66.40. keep in mind that it's trading above a declining 5day MA. participate until it breaks below 5 day MA.
***Nice bearish setup***NASDAQ:AMAT below 1,2,3day VWAP and below 5day MA. Short below $38.59. do not participate if it gaps down through the trigger price.
*****NICE BREAKDOWN SETUP*****NYSE:CARS Short Below Yesterday's low of 25.70 or below declining daily VWAP, whichever makes more sense depending on the price action.
***Great Short Candidate***NASDAQ:TSLA Below all important VWAP levels. Looks ready to breakdown below 302.05.
*****solid short setup*****NYSE:TMK This one is ready to break down. it's below 1,2,3-day VWAP. Sell short below 81.59
Tron breaking down from upward slanted head & shoulder patternI exited my tron position as soon as I got the BTT airdrop the other day We had just gone under the neckline of the head and shoulders pattern and I was anticipating a drop. Sure enough, that is what is playing out. The drop target for the price action suggests it will be retesting the 1 day 200ma again soon....now that price action has closed a few under the 1 day 50ma aka the buy/sell line we know that it is definitely time to exit the position(although I already did after seeing 2 1 day candles close under the head and shoulder neckline.). If memory serves me correctly upward ascending head and shoulder patterns ten to not reach their full drop target more often than convention head and shoulder patterns so there's a chance it may rebound before dropping the whole way...however I think there is still plenty of downside to come for Tron for the next 1-2 weeks. It will probably rebound close to the beginning of next month as people will be vying to get back in before the 11th to receive another BTT airdrop no doubt. We may see a brief consolidation to reset the 1 day stoch rsi before further downside as well.
ES1!: Watch for the breakdownWith the ES1! trading around the 2,750 region, it is time to revisit and look for another set up. This time round we are looking at an ascending wedge formation with the apex coinciding with the 200-days moving average. Ascending wedges are by definition a bearish pattern while the 200-dma happens to coincide with a congestion zone between Nov to Dec. I know there is some hate in relation to moving averages but I personally feel there is some information value especially when taken in context with other forms of support/resistance.
Since I called for taking money off the table around the 2640's region, the ES1! has rocketed up another 100pts on diminishing odds of rate hikes, a second US government shutdown and higher Chinese tariffs. So what will be the bogey man this time round? I don't really know, but the whole backdrop of slower growth in the absence of tax cuts and global trade tensions just suggest buying at these levels appears to be misguided, especially with a debt refinancing wall round the corner. It is too simple to use traditional PE and PB ratios which would suggest valuations are cheap; These indicators are not adjusted for rates nor debt. Once adjusted, valuations remain elevated near the +1 standard deviation levels.
My preferred stance would be to position for a risk-off trade with an initial ABCD target of 2260.
IS IT READY NOW???Sell short below yesterday's low of 165.25. See the chart for more details.
Please like, comment and follow if you like my ideas. THANK YOU!!!
Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
