$AVNS Beautiful BreakoutDay not over yet but watching it closely. Posted about this setup taking place here few days back. link
Classicalcharting
$JBL 4 month #AscendingTraingle #ChartPatternNYSE:JBL forming a well defined 4 months ascending triangle chart pattern with $35.75 acting as resistance that has been tested multiple times. Volume pattern shows heavy accumulation that started couple weeks ago. The stock closed just below that price level in today's session and looks ready to break out soon.
Line in the Sand for Bears $DIY $SPY $QQQWith $ES_F and $NQ_F forming possible head and shoulders, $YM_F bulls targeting H&S failure.
$UBER 4 Month #CupandHandle #ChartPatternNYSE:UBER been consolidating its rally from COVID19 bottom for the last 4 months forming a cup and handle chart pattern with $38.50 level acting as resistance. The stock is also attempting to clear a weekly down sloping trend line (red dotted line on the chart). A daily close above cup and handle chart pattern boundary will clear both chart pattern resistance and weekly trend line triggering a long entry swing trade.
$SUI 4 Month #Rectangle #ChartPattern$SUI is forming a rectangle chart pattern with multiple tests to the $150 price level. What is interesting about this setup is the strong accumulation of the stock for the last 3 days. I have highlighted these days in yellow on the chart. These huge volume days are a sign of institutional buying which would increase the possibility of a successful breakout.
$CARR 1.5 Month #Rectangle #ChatPatternObvious strong relative strength with volume pattern supporting a breakout and higher prices. Tight sideways consolidation at all time high (ATH) forming 1+ month rectangle chart pattern.
$NQ #Head&Shoulders Bottom?It's crazy to imagine strength in this uncertainty but like i always say, Everything is Possible. And this is Plausible.
$MGLN 4 Month #AscendingTriangle #ChartPatternHow many times does $77.40 level going to get tested? ahhh 10? lol
$WYNN 4 Month #DescendingTriangleThis casino stock looks vulnerable to starting another leg lower potentially all the way back to Covid19 lows. The stock is forming a 4 month descending triangle chart pattern with $68.50 level tested multiple times. A clear daily close below that level will complete the pattern and should push the stock lower. 1st target $50 round number.
$TRWH 4 Month #Cupandhandle #ChartPatternQuite a few casino stocks are looking bullish! Here is NYSE:TRWH setting up a 4 month cup and handle chart pattern with handle taking on a flag pullback. Day is not over yet but it seems the stock is breaking out of that flag and setting up a run up to $28. A level that has been resistance in the past and a confluence of both pattern and weekly down trendline resistance. A daily close about that level could set the stage for another leg higher.
$CSTM 4 Month #DescendingTriangle #ChartPatternNYSE:CSTM has formed a 4 month descending triangle pattern with a clear horizontal support boundary @ $7.25. The stock has tested that level 4 times during the chart pattern formation. A daily decisive close below $7.25 will confirm the chart pattern breakdown and set the stage for lower prices.
Chart pattern price target is around $4.50 but $5 round number price level will act as support, so if I take this trade, I would planning on covering shorts around that level.
$AXTI 5 Month #Rectangle #ChartPattern1) Massive volume yesterday and heavy volume so far today
2) day not over yet but probably closes above 5 month rectangle resistance (blue line on chart)
3) Also breaking above weekly down trend line (red line on chart)
4) $6 price level tested 6 times
looks like a good long trade setting up. A bit volatile stock with wide moves. Size your shares appropriately.
$SSP forming 4 Month #CupandHandle #ChartPatternThe handle part of the pattern is taking on the shape of 2 month rectangle pattern with $12.50 acting as boundary resistance. Chart patterns that accomplishes 3 things when they breakout are ones that have the most chance succeeding. When the breakout takes place (daily close above $12.50), SSP will:
1) Close above its cup and handle chart pattern (blue line on chart - breakout)
2) Clear a multi month weekly downtrend (red trend line on chart)
3) Clear/Breakaway from the 200 MA (yellow line on the chart)
$KSS 4 Month #Rectangle #ChartPatternKohl's been trading in a well defined range for the last 4 months with $18.75 area acting as support that has been tested 4 times. The stock failed to put a meaningful bounce along with a strong market today. The lack of buying interest close to these levels could indicate the stock is ready to breakdown and start heading lower again. Sell short a clear daily close below rectangle support level.
CSPR Forming 3 Month #AscendingTriangle #ChartPatternLooks ready to breakout from its 3 months ascending triangle chart pattern.
$MLM forming 4 Month #Rectangle #ChartPatternNYSE:MLM is another stock showing relative strength and could be setting a breakout to higher prices in the coming days. A clear daily close above $230 resistance that has been tested multiple times in recent weeks will set the stage for the next leg higher.
$NWHM Forming 3 Month #AscendingTriangle #ChartPatternWith the market selling off the last 3 weeks, NYSE:NWHM been showing relative strength trading sideways to up. The stock has formed an ascending triangle chart pattern with upper boundary around $4.85 acting as resistance. The stock spent the last 4 sessions trading just under that level. The stock is also breaking a long weekly down trendline (red line on the chart), adding to the importance a possible chart pattern breakout.
Volume pattern also showing buying interest and the stock could be ready to breakout early this week. Buy a daily close about chart patter upper boundary for a possible leg higher.
$EURNZD 6 Month #Head&Shoulders Bottom in the Making?The right shoulder taking on the form of 1 month rectangle consolidation pattern. A daily close above rectangle resistance upper boundary would set the stage for a rally to test head and shoulders neckline (blue line). A daily close above the neckline will confirm the 6 month head and shoulder bottom and set the stage for a run to higher grounds.
$BYND Looks Ready to Breakout from 4 Month Rounded formationNASDAQ:BYND been working on a 4 month rounded formation that is bringing the stock back to the $164 level. Volume pattern is showing aggressive accumulation during this period increasing the probably of a breakout soon without this pattern transforming into a cup and handle pattern (pull back before a breakout takes place).
A strong daily close above $164 would trigger a long entry with a possible price target of $230-$235 targeting prior ATHs.
$HCAT Forming 3 Month Continuation #Head&Shoulders #ChartPatternHCAT has been consolidating it rally from Covid19 bottom forming a 3 months continuation head and shoulder pattern. $37 price level has been acting as strong resistance and was tested multiple time in the last few weeks. A strong daily close above that level will confirm the pattern and the breakout, potentially starting the next leg higher. A good opportunity to monitor this week.
VFF 3 Month #SymmetricalTriangle #ChartPatternUp 10% today in the face of a market that's been selling off. Watch the weekly down trending line (red on the chart) if a breakout takes place. Could see some selling in that area but that's 20%+ from breakout boundary.
