CS Group - CSGN• Slightly upside corridor since beginning December 2022 (daily chart on the left side)
• The stock is currently trading at the bottom of the corridor (left side chart)
• Low volume in the last days (left side chart)
• Break out of the decreasing trend line in the last weeks (weekly chart on the right side)
• Supportline at 2.654 (right side chart)
• MACD line crossed the MACD Signal upward, which supports the outbreak of the decreasing trendline (right side chart)
• Stay neutral and wait if the support will hold
Corridor
BTC Relief into $35,000 range ( support/ resistance corridor )BTC acting as expected. The current support line is very strong that stretches through 2021 June-July.
The current corridor is formed in 30,000 to 35,000 with some up or downticks below.
General sentiment stands to hold well- relief for markets. This comes due to many macro indicators and some chain-data suggestions.
As with the previous TA, we should validate the current play with:
- DXY ( Dollar Strenght Average ) is declining, indicating that the dollar will weaken.
- BTC shorts liquidated.
- SP500, NASDAQ relief. (BTC seems to have delayed correlation)
- Chain-Data buy signals popping up.
- Institutional public communication supporting BTC.
The current small move can't draw a decisive conclusion for a trade. The levels need first to be defined with multi-day movement.
Close eye on the DXY, BTC shorts/ longs, Stocks, chain data, and institutional communication.
Caution: The current setup can become a Bull trap. We had a similar pattern in June -July 2021 where the bulls escaped the corridor and led the market to new ATH. However, this time the sentiment is weaker. People are scared and often make irrational decisions based on some market moves - this is something the institutions are ready to exploit. The fear is that once relief starts and emotions start to jump, we might see another dump caused by the institutional exit. Such even on large scale will cause further downturn to the next support line around
Thanks,
0xTed
BCE bounce off of 200 SMA after 2x jump up and corridor downHello Traders!
The price of BCE Inc has moved in fast bullish jumps and slow bearish corridors for two times in a row now. The 200 SMA has already acted as a resistance in June and it is reasonable to believe it will act this way for the next jump as well, which is just about to happen. The first goal for a short position is the 41.83 support/resistance and the second one is 40.29. The RSI 14 is dead-centered but the MACD looks like it is about to cross under the 9 EMA, but at some point in the very near future, the price will definitely bounce off of the 200 SMA.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
BCOM just peaked in price corridor, new downtrend startingHello Traders!
BCOM seems to move in a very big price corridor and has just peaked. A new short-term downtrend is confirmed by the price, the MACD, and the RSI. This is the perfect time to go short!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
ABT Labs; perfect long-term investmentHello Traders!
Abbott Labs had been on a clear and strong uptrend for quite some time before the crisis in March/April. But now that it has recovered and broken out of the short-term downtrend bullishly, the MACD has moved away from the 9 EMA and the RSI is a good bit away from overbought, it is very likely that the price will regain its previous upward momentum and the 50 SMA will take up its role as strong support again.
This is a picture-perfect longterm investment! Don't waste this opportunity!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
Advanced Energy Industries starting new downtrendHello traders!
After overshooting all moving averages, the price of Advanced Energy Industries has broken out of its corridor and bounced off of the bottom of the corridor, which confirmed the breakout. The RSI is far away from being oversold and the MACD looks pessimistic. I believe the MACD crossing below the 9 EMA and the 100 SMA crossing below the 200 SMA initiated a new short-term downtrend at least to the 59.74 support/resistance and with high probability as well to 51.86. Dropping to 46.88 would be an unexpected lucky shot, but with a moving Stop Loss it's worth a try!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
Bonanza Creek Energy continuing its uptrendHello Traders!
After recovering from the shock in March, there is no reason for the price of Bonanza Creek Energy to not revert to its normal range. It broke through all the moving averages and the support/resistance at 16.43 without problems and the MACD looks very optimistic as well. It's already impossible for the next high of the MACD to be lower than the previous one, which indicates convergence with the price and trend continuation. On the other hand, I don't see a reason for the market sentiment to be optimistic enough for the bulls to break through the historical resistance of 26.11. The RSI seems a bit out of place, I attribute its oversold indication to the current rally within the price corridor, so no reason to worry!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
A new testOur price remained in the corridor. Taking into account the reversal from the upper boundary, we expect testing of the lower level, which is at the mark of 1.1625.
In case of breaking through the level and fixing of the price, we expect the continuation of the downward movement and the expansion of the corridor boundaries. We recommend taking short positions and searching for exit points near the lower boundary of the extended corridor.
Are you stuck?Since the beginning of today's trading session, the pair is slowly rising. We still believe that the pair will fall below the 1.15 mark. However, at the moment, the price has turned around. The price began to rise not reaching the lower border of the corridor.
On Thursday, amid fears of investors about the trade war and Friday's completion of the week, investors tried to record profits. Therefore, our pair stayed in the existing corridor 1.17-1.15 and this means that the 4th wave continued its operation. An alternative option would be a breaking of the upper boundary of the corridor and the price movement to the level of 1.1850.
At the moment, we recommend waiting for the exit from the corridor and only then take positions.
