BLS INTL SERVICES - Ready for a short term Up MoveThe stock had undergone a big correction even before the recent small cap index correction. The stock fell almost 28% from 475 to 340. It was pushed below the 200 DMA, from where it has been recovering. Even during the recent correction in the small cap index, the stock was in fact showing lot of strength and the relative strength compared to the small cap index is positive now. It is also making higher highs in the daily frame while it is still continuing to make the higher highs and higher lows in the weekly time frame as well. Now, it has also crossed above the short-term moving averages and the previous daily pivot. So, the stock looks likely to test 475 levels. So, I am looking at 15% returns in the short term from the stock. Of course, one has to always keep in mind the overall market weakness.
Buyingpressure
BOMBAY DYEING - Ready to Move to the Next OrbitThe stock after facing price rejection in the range of 224 to 241 was pushed down to the 50 DMA. It moved almost sideways in the last three months. Recently we saw some interest coming back into the stock with the relative strength and the money flow turning positive and the volume was also increasing. The stock remained very strong during the recent weakness we saw in the overall market. Now finally it has crossed above the price rejection zone with good volume support. The delivery volumes saw substantial increase recently. All other parameters like the buying pressure, volume adjusted momentums, absolute momentum everything seem to be favouring further up move. Looks like the stock is ready to move to the top into the next orbit.
A quick Analysis of the NIFTY From the week starting 30th sept. we saw a big drop of 2400 points on increased volume. Then the last two week we saw a almost side ways move in a small range of 500 points on much lower volume. Now the Index is at a crucial level, which is a previous support zone. If the index holds at the current levels, we can expect some more consolidation before a recovery. The reduced volume is a definite positive. Also, the current sell wave is much weaker compared to the previous sell wave. The selling pressure is slowly subsiding. Break of 24694 will take it down another 800 points to Test the level 23893 as this is also a weekly lower pivot. This will make the Bears assert their supremacy.
MINDA CORP - Gearing up for More Upside ?After almost two months of side ways move the stock is on the verge of taking out the previous Price Rejection Zone. My checklist all ticked right
Relative Strength
Buying Pressure
Increased volume
Money Flow
Absolute Momentum
Increased Delivery volumes
There is a high probability of the stock moving into the next Higher trajectory. A positive close above 527 will add more conviction.
Crompton Greaves - Poised move up?After a long sideways move the stock is now attempting go on upward trajectory. Creasing relative strength and Money flow is supporting the up move. Momentum and Buying Pressure are also increasing. Recent increase in delivery volumes indicate good amount of accumulation. Today's ultra high volume is reason for caution. Once we have a positive close above 343 we can expect a 100 point up move.
PRAJINDThe stock is coming out of the Supply Shadow of the "BC" bar. The Relative strength is turning positive. Buying Pressure and Money flow are already positive. Another upbar closing above the shadow preferably above today's High will ensure that the stock will move much higher.
Also on the weekly as well the stock is moving above the supply shadow of a BC bar. All key parameters remaining positive.
GBPAUD I It will rise to resistance +200 Pips Welcome back! Let me know your thoughts in the comments!
**GBPAUD Analysis - Listen to video!
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XAUUSD | Perspective for the new week | Follow-up detailsDest the long-term bearish momentum on the XAUUSD, the $1,620 level has continued to hold buying pressure in the last couple of months to insinuate the possibility of a momentum shift in the nearest future. The US Dollar plunged on Friday despite the United States adding 261,000 jobs last month in its October non-farm payrolls report and from a technical standpoint this might not be a good sign for the Greenback. However, it is important that we keep our options open as the need to see how price action relates to the $1,680 level in the early hours of the new week might be a major determinant of where the price will be heading this week.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
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Past performance is not necessarily indicative of future results.
BTC 40,000 Resistance$40,000 seems to be the level to beat for BTC but as we just saw in a matter of minutes accumulation occurred below the $38k mark confirming again the massive bull flag formation. I believe with that flash buy sellers are being worn out by the hour. We can also see BITFINEX:BTCUSDLONGS is picking indicating further buying from traders as well as long term buyers. Accumulation and other on-chain factors point only upwards. Wait for daily close.
NANOBTC very good signal for buyNANO is currently at buying zone which combined with full magical round number 1500.
BTC is on pressure zone around 30k and many other cryptos so it would be surprise if there would not be any rebound from this level.
1H chart suggesting 1.900 area or slightly less as safe exit area.
It is very related to NANOUSD which are in the similar place.
PLUG Ascending TriangleAnalysis: PLUG never ceases to amaze me. Technically, I think this has more to go. It's set up nicely near the apex of an ascending triangle that has been forming for two weeks. Today's candle showed a hammer formation with buyers stepping up end of day to take back control. However, volume has been tapering lately which is a concern. Either side could step up and push this stock.
This has been flirting with the upper resistance level the entire triangle. I'm thinking a small pullback tomorrow to test the 8 EMA. If it breaks resistance at the $28.70 level, I want to see heavy volume lift it past resistance.
Strategy: I've been a PLUG holder for a while now. But I, personally, am going to pick up $30 calls with Friday expiry if this touches into the 8 EMA. There's a good amount of liquidity weighted to the call side. Whole numbers are the hot spot due to its psychological effect. Please note, I am not an advisor. This is my opinion. Leave a comment, though, and tell what me your thoughts!!!
Volume Indicators Masterclass Part 1VOLUME INDICATORS
Volume is one piece of information that is often neglected by many market players, especially beginners.
However, learning to interpret volume brings many advantages and could be of tremendous help when it comes to analyzing the markets. The usage of volume indicators has long been restricted to just the Forex Markets. Thereby in the Volume Indicator Masterclass, we will be looking in-depth for a few volume indicators.
Traders often use volume which measures the number of shares traded during a particular time period as a way to assess the significance of changes in a security’s price.
Traders rely on it as a key metric because it lets them know the liquidity level of an asset, and how easily they can get into or out of a position close to the current price, which can be a moving target.
Volume analysis is a technique used to determine the trades you will make by discovering the relationships between volume and prices. In order words, it shows how many times the security has been bought or sold over a given timeframe. The time frame can be one minute, four hours, one day, or anything.
The volume transacted in the given timeframe is represented as a bar, which can be color-coded. The color of the bar shows whether the security’s price closes up or down.
A green bar is generally used to show that the security closed higher during the trading session
A red bar is used to indicate that the security closed lower
The height of the bar shows whether there’s an increase or a decrease in the volume of the security transacted a taller bar shows a higher volume while a shorter bar shows a lower volume.
Trend Confirmation :
If the volume increase with an increase in price or with a decrease in price, it indicates a strong buying or selling pressure.
Trend Non-Confirmation :
If the volume decrease with an increase in price or with a decrease in price, it indicates a weak buying or selling pressure.
There are various Volume Indicators, out of which we will be discussing the Money Flow Index in this Masterclass.
Money Flow Index
The Money Flow Index (MFI) is an oscillator that uses both price and volume to measure buying and selling pressure.
The indicator is synonymous with “volume-weighted RSI” as it integrates volume and mirrors the relative strength index (RSI) with respect to its mathematical formulation and categorical classification as a momentum oscillator MFI.
Calculation of the Money Flow Index:
Typical Price: (High + Low + Close) / 3
Money Flow: Typical Price x Volume
Positive Money Flow: The Money Flow on days where the Typical Price is greater than the previous day’s Typical Price.
Negative Money Flow: The Money Flow on days where the Typical Price is less than the previous day’s Typical Price.
Money Flow Ratio: 14-Period Positive Money Flow / 14-Period Negative Money Flow
Money Flow Index: 100 Money Flow Ratio / (1 + Money Flow Ratio)
Signal Generation
BUY When Money Flow Index crosses up 20 i.e. from the oversold region
SELL When Money Flow Index crosses down 80 i.e. from the overbought region
There a lot of more interesting Volume Indicators that can be used, about which we'll be talking in the next Masterclass of Volume Indicator.
STAY TUNED!
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