EURUSD ForcastMidterm forecast:
While the price is above the above 1.026 , an uptrend is expected.
If Monday market goes above the 1.026 market with powerful candle then most likely our next target will be around 1.038, but if the price breaks down and goes below 1.02 then expect price to go below 1.00 mark.
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Buysetup
NASDAQ Bullish potentialLooking for Nasdaq to be bullish for the new tomorrow for CPI. An hour before the move.
If price breaks through that "shift" and creates a gap of sort, then we can expect price to potentially trade higher, target being the recent high and price @ 13620.00.
However, I don't want S&P and Dow to break there lows. if that the case, then we can potentially see Price trade lower. I won't be able to determine it much till it gets closer to that time.
I lead more towards bullish than bearish currently.
Can $HRMY break historical resistance once again?Notes:
* Steady up trend on all time frames
* Okay earnings track record
* Trying to break above historical resistance of the ~52.8 area
* Pulled back to the 50 day line
* Printed a bullish outside day in the last session
* Earnings report reaction sold off to the 50 day but bounce from there indicating demand around the $50.34 area
Technicals:
Sector: Healthcare - Biotechnology
Relative Strength vs. Sector: 17.65
Relative Strength vs. SP500: 41.59
U/D Ratio: 0.96
Base Depth: 70.33%
Distance from breakout buy point: -8.1%
Volume 8.87% above its 15 day avg.
Trade Idea:
* You can enter now as volume comes in after the earnings report reaction
* If you want a better entry you can find one around the $51.7 area
* If you want a safer entry you can wait for a clear break/hold above the ~52.8 area as that is historical resistance.
* This stock usually has local tops when the price closes around 16.84% above its 50 EMA
* Consider selling into strength if the price closes 16.64% to 17.04% (or higher) above its 50 EMA
* The last closing price is 5.44% away from its 50 EMA
$AMPH is building a nice pivot area!Notes:
* Strong up trend since late 2021
* Great earnings track record
* Building a base for the past ~4 months
* Building a pivot area around $37.8 for the past three weeks
* Bounced off of the 50 day line with higher than average volume
* Has been using the 50 day line as a dynamic level of support for the past month or so
Technicals:
Sector: Healthcare - Drug Manufacturers - Specialty & Generic
Relative Strength vs. Sector: 3.28
Relative Strength vs. SP500: 7.72
U/D Ratio: 1.5
Base Depth: 49.24%
Distance from breakout buy point: -17.32%
Volume 20.79% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just bouncing off of its 50 day line
* If you want a better entry you can look for one around the $36 area as that seems to be acting as a pivot also
* If you want a safer entry you should wait for a clear break and hold above the $37.8 resistance area
* This stock usually has local tops when the price closes around 23.22% above its 50 EMA
* Consider selling into strength if the price closes 23.02% to 23.42% (or higher) above its 50 EMA
* The last closing price is 3.03% away from its 50 EMA
USDCAD Local Buy from Support Welcome back! Let me know your thoughts in the comments!
**USDCAD - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Brian & Kenya Horton, BK Forex Academy
GBP USD BUY (LONG) ANALYSIS After an impulsive move to the upside a 4hr order block has been formed .
I refined my order block to 1 hr. timeframe
I know the market is attracted to liquidity so most likely will come to take out the equal lows liquidity then into the order block .
Enter after confirmation on a lower timeframe
if you have found my analysis helpful please leave a comment below .
$FTNT taking off from its launch pad!Notes:
* Strong up trend on all time frames
* Great earnings track record
* Basing for the pas ~9 months
* Moving higher from its launch pad with higher than average volume and another quarter of better than expected earnings
* It's also breaking out of an ascending triangle
Technicals:
Sector: Technology - Software - Infrastructure
Relative Strength vs. Sector: 5.72
Relative Strength vs. SP500: 54.15
U/D Ratio: 1.53
Base Depth: 51.61%
Distance from breakout buy point: -15.43%
Volume 24.53% above its 15 day avg.
Trade Idea:
* You can enter now as the price is moving higher from its launch pad with higher than average volume and on better than expected earnings
* If you're looking for a better entry you may be able to get one around the 61.9 area
* This stock usually has local tops when the price closes around 15.74% above its 50 EMA
* Consider selling into strength if the price closes 15.54% to 15.94% (or higher) above its 50 EMA
* The last closing price is 6.2% away from its 50 EMA
Is $AJG making the handle to its cup?Notes:
I last spoke about this on July 26, 2022 and since then gone up but came back down erasing almost all of the gains. If you didn't take profits earlier on its gap up that's okay as it seems like $AJG may be making the handle to its cup. Keep an eye on the $170 area as it should hold as support.
It seems now that the earnings reaction has passed it may bounce from here and continue its momentum. Based on its trend, volume and price level my radar is signalling a buy around this price.
Technicals:
Sector: Financial - Insurance Brokers
Relative Strength vs. Sector: 1.81
Relative Strength vs. SP500: 3.86
U/D Ratio: 1.28
Base Depth: 24.23%
Distance from breakout buy point: -6.5%
Volume 7.22% above its 15 day avg.
Trade Idea:
* You can enter now if you haven't already or add to your existing position as the price is coming towards support
* If you want to be a bit cautious you can wait a couple of sessions to see how the price behaves around this level and get in on a later potential buy signal
* I would personally suggest the later as it's a bit more of a defensive play
* This stock usually has local tops when the price closes around 9.35% above its 50 EMA
* Consider selling into strength if the price closes 9.15% to 9.55% (or higher) above its 50 EMA
* The last closing price is 3.9% away from its 50 EMA
Is $ATEN ready to come up on the right side of its base?Notes:
* Strong up trend since 2020
* Great earnings track record
* Basing for the past ~9 months
* Just broke back above IPO highs of $14.9 on the monthly time frame and retested it as support
* Recently came above its 200 day line and now coming above its 50 day
* Showing strength and accumulation
* Printed a pocket pivot in the last session indicating institutional demand
Technicals:
Sector: Technology - Software - Infrastructure
Relative Strength vs. Sector: 23.55
Relative Strength vs. SP500: 4.61
U/D Ratio: 1.59
Base Depth: 50.68%
Distance from breakout buy point: -18.94%
Volume 5.58% above its 15 day avg.
Trade Idea:
* This is offering a low risk entry so you can enter now as the price is still close to its 50 day line and just retested $14.9 (Historical highs) as support
* If you're looking for a better entry you may be able to find one around the $14.9 area as that should hold as support moving forward
* This stock usually has local tops when the price closes around 17.84% above its 50 EMA
* Consider selling into strength if the price closes 17.64% to 18.04% (or higher) above its 50 EMA
* The last closing price is 6.26% away from its 50 EMA
$FPI is coming up on the right side of its base!Notes:
* Strong up trend
* Not the best earnings record but the last report was really good
* Creating a base within a base
* Recently broke above historical highs of 14.42
* Increasing volume since the last earnings report
* Recently bounced off of the 50 day line with bullish price action and volume
Technicals:
Sector: Real Estate - REIT - Specialty
Relative Strength vs. Sector: 1.23
Relative Strength vs. SP500: 2.49
U/D Ratio: 1.25
Base Depth: 22.36%
Distance from breakout buy point: -9.29%
Volume 57.34% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just coming off of the 50 day line with increasing volume
* If you're looking for a better entry you can look for one around the 14.42 area as that should serve as support moving forward
* This stock usually has local tops when the price closes around 18.47% above its 50 EMA
* Consider selling into strength if the price closes 18.27% to 18.67% (or higher) above its 50 EMA
* The last closing price is 4.8% away from its 50 EMA
$CI is breaking out of a ~14 month cup with handle pattern!Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Breaking out of a ~14 month cup with handle pattern
* It did break out before but then pulled back (seems like a shakeout)
* Now it's been in a tight range just above the broken resistance creating new support
* The last session printed a pocket pivot indicating institutional buying
Technicals:
Sector: Healthcare - Healthcare Plans
Relative Strength vs. Sector: 5.55
Relative Strength vs. SP500: 28.95
U/D Ratio: 1.77
Base Depth: 43.95%
Distance from breakout buy point: 1.09%
Volume -5.44% below its 15 day avg.
Trade Idea:
* You can enter now as the price is just above the broken resistance with the last session being a pocket pivot
* If you want a better entry you can look for one around the 270.1 area
* This stock usually has local tops when the price closes around 9.18% above its 50 EMA
* Consider selling into strength if the price closes 8.98% to 9.38% (or higher) above its 50 EMA
* The last closing price is 3.9% away from its 50 EMA
$EQNR moving up on the right side of its base!Notes:
* Strong up trend
* Good earnings in the recent quarters
* Pays out a nice dividend
* Created a double bottom and is now moving up on the right side of its base
* Recently bounced off of its 50 day line
Technicals:
Sector: Energy - Oil & Gas Integrated
Relative Strength vs. Sector: 5.8
Relative Strength vs. SP500: 3.16
U/D Ratio: 1.16
Base Depth: 22.21%
Distance from breakout buy point: -3.9%
Volume 13.32% above its 15 day avg.
Trade Idea:
* You can enter now as the price and volume are indicating bullish momentum
* If you're looking for a better entry you can look for one around the $36.55 area
* This stock usually has local tops when the price closes around 15.28% above its 50 EMA
* Consider selling into strength if the price closes 15.08% to 15.48% (or higher) above its 50 EMA
* The last closing price is 7.24% away from its 50 EMA
Is $PAG recovering from its pull back?Notes:
* Strong up trend on all time frames
* Great earnings track record
* Pays out dividends
* Coming up on the right side of its base
* Basing for the past ~9 months and creating a base within a base
* Just breaking above the ~112 (historical resistance weekly chart) area with higher than average volume and bullish price action
* In the Automotive industry which is pretty hot right now
* Using the 50 day line as a dynamic level of support for the past several sessions and now bouncing off with higher than average volume
Technicals:
Sector: Consumer Cyclical - Auto & Truck Dealerships
Relative Strength vs. Sector: 2.12
Relative Strength vs. SP500: 2.92
U/D Ratio: 1.02
Base Depth: 20.61%
Distance from breakout buy point: -8.45%
Volume 38.61% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just bouncing off of its 50 day line with higher than average volume
* If you're looking for a better entry you can look for one around the ~110.5 area
* This stock usually has local tops when the price closes around 12.3% above its 50 EMA
* Consider selling into strength if the price closes 12.1% to 12.5% (or higher) above its 50 EMA
* The last closing price is 5.63% away from its 50 EMA
Is $MUSA ready for another run?Notes:
I last mentioned $MUSA on July 7th, 2022 and since then it has run up more than 12% hitting our target.
Since hitting our target $MUSA has been in an orderly pull back to the broken resistance of $262.58 and testing that as support.
* Ideally, this should now hold above $262.58 in order to stay constructive. A daily close, or two, would signal weakness.
Now that earnings are out better than expected we may be able to expect another run up.
Everything else remains the same as my previous post.
Technicals:
Sector: Consumer Cyclical - Specialty Retail
Relative Strength vs. Sector: 2.36
Relative Strength vs. SP500: 3.75
U/D Ratio: 1.27
Base Depth: 19.38%
Distance from breakout buy point: 1.66%
Volume 19.89% above its 15 day avg.
Trade Idea:
* You can enter now since the earnings are out of the way and it's bouncing off of support with higher than average volume.
* It may also consolidate for the remainder of this week so if you want a better entry you can look for one around the $262.58 level
* This stock usually has local tops when the price closes around 14.62% above its 50 EMA
* Consider selling into strength if the price closes 14.42% to 14.82% (or higher) above its 50 EMA
* The last closing price is 7.35% away from its 50 EMA
The Consumer Stables sector $XLP is looking bullish!* Breaking out of an inverse head and shoulders pattern
* Measured objective for the pattern is around the all-time-highs
You can trade the ETF itself or find buying opportunities in individual stocks in this sector.
DYDD before buying anything and always manage your risk!