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Double Bottom

$CEIX Broke out of its base since 2018! Can it go higher?Notes: * Very strong up trend since October 2020 * Not the best earnings track record * Broke out of its base that was forming since 2018 with higher than average monthly volume * Retested that broken resistance several times on the monthly chart and bounced bullishly * Formed a double bottom in the past couple of months Technicals: Sector: Energy - Thermal Coal Relative Strength vs. Sector: 2.65 Relative Strength vs. SP500: 2.41 U/D Ratio: 1.17 Base Depth: 37.71% Distance from breakout buy point: -5.22% Volume 54.62% above its 15 day avg. Trade Idea: * Yesterdays session was quite bullish and isn't offering a low risk entry. * Since the volume was high, we might be able to get in at yesterdays closing price and it may just move higher from here * If you're looking for a better entry, the 54.04 area seems like a nice entry as it's a level of resistance that should act as support moving forward * This stock usually has local tops when the price closes around 36.06% above its 50 EMA * Consider selling into strength if the price closes 35.86% to 36.26% (or higher) above the 50 EMA... * The last closing price is 14.44% away from its 50 EMA
NYSE:CEIXLong
by HaseebKhan_90
7
Sterling tools near its supply zoneStertools has been on a downtrend since 2018. The stock has made a double bottom and currently at the neck line which is very strong supply zone of 250rs-260rs which coincides with 38.2% fib level. If the stock manages to give a weekly closing above 250rs and sustains the same in the following week, we might see a big upmove in this stock. Keep this stock in radar for a good positional trade since volumes have increased in previous few weeks
NSE:STERTOOLSLong
by chartistamey
BTC Ascending triangle or a bear flag breakout?I'm looking at BTC chart in multi- timeframe. BTC broke symmetrical triangle, formed an ascending triangle but rejected at the resistance level 22.5-22.8K. Today BTC retested symmetrical triangle trendline and can bounce, or it can touch the lower slope of ascending triangle before major bounce. There is a warning sign as well. BTC has formed a gigantic bear flag with the target 11K. If it breaks down the blue parallel channel or Ascending triangle , A bear flag mode will be activated and more likely it will dump to cause a final capitulation. I give 75% probability to a scenario A and 25% -B based on my previous published analysis. You can also check them to understand why I'm more bullish than bearish.
Long
by ergal91
Ethereum double bottom & Ascending triangle breakout? I'm looking at Ethereum chart in multi- timeframe. Using trend based fib extension, I showed you that 100 % projection of A wave / from November top/ATH/ to January low has been completed. In daily timeframe there is a nice Adam & Eva double bottom pattern with ascending triangle/. Such kind of pattern there are on total market cap and BTC charts as well. At 4h timeframe there is ascending triangle too. Its resistance has been tested 4 times. To get confirmation of the breakout we need BTC 4h and daily candle close above the resistance. I expect it in coming days. All targets are pointed on the charts. You can also check my previous analysis about BTC, Total market cap, DXY, USDT dominance and understand why I'm bullish.
Long
by ergal91
Total Market cap double bottom & ascending triangle/bounce time?I'm looking at Total market cap in daily and 4h timeframe. There is a nice Adam & Eva double bottom pattern, which can be broken very soon/ in coming days/ At the same time there is ascending triangle on 4h timeframe. The resistance has been tested 4 times)) As you know as many times price hits the resistance , it becomes weaker and more likely will be broken. Double bottom and ascending triangle targets, which are the same I pointed on the chart. For confirmation we need 4h and daily candle close above the resistance / You can look at my previous BTC analysis from bullish perspective.
CRYPTOCAP:TOTALLong
by ergal91