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Downtrend

NIO - more downside soon? Target 5.50I am following NIO with one eye, now switching to two eye. Even though NIO could have a bright future for the long run (years), I see more downside incoming. The formed head and shoulder within the symmetrical triangle broke to the downside (breaking also the triangle), and as expected retested the HOS neckline (and the triangle). As expected, it got rejected, also bumping into the 200 SMA (4hr)with a huge rejection, confirming it is still in a strong bear-trend now. We are also way below on the 200day SMA, and also the 200week SMA. On the weekly, we are loosing momentum, but some upside is expected on the short-term. I assume (but price actions will tell), this short term uptrend will help to finish the smaller formation on the new Head and Shoulders, which I highlighted with paintbrush in white. Currently, we are in the consolidation zone, chances are, we are going up a bit to create the top of the right sholder with the target of 9.40-9.60, then going back down to the consolidation zone. Also, there is a possibility we have a very shallow right shoulder almost formed already, going down directly, I will wait for confirmation. We are also below the 9day&15 day MA, and also below the 21day EMA. All theese will possibly be huge resistance. Very short-term : uptrend target - ~9.40 Short-term: downtrend target: ~8.80 Low Mid-term: downtrend target: ~8.00-7.70 High Mid-term: downtrend target: ~7.10 Long-term: downtrend target: ~5.50
NYSE:NIOShort
by tommtajlor
94
DIA in downward trendSPDR® Dow Jones Industrial Avrg ETF Tr (DIA, $381.37) RSI Indicator left the overbought zone on January 31, 2024 This is a signal that DIA's price could be shifting from an uptrend to a downtrend. Traders may consider selling the stock or exploring put options. A.I.dvisor looked back and found 43 similar cases where DIA's RSI Indicator left the overbought zone, and in 35 of them led to a successful outcome. Odds of Success: 81%. DIA in downward trend: price may decline as a result of having broken its higher Bollinger Band on January 22, 2024 DIA broke above its upper Bollinger Band on January 22, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 39 similar instances where the stock broke above the upper band. In 35 of the 39 cases the stock fell afterwards. This puts the odds of success at 90%. Price Prediction Chart Technical Analysis (Indicators) Bearish Trend Analysis The 10-day RSI Indicator for DIA moved out of overbought territory on January 31, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 43 similar instances where the indicator moved out of overbought territory. In 36 of the 43 cases, the stock moved lower in the following days. This puts the odds of a move lower at 84%. The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 8 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected. Following a 3-day decline, the stock is projected to fall further. Considering past instances where DIA declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 79%. Bullish Trend Analysis The Momentum Indicator moved above the 0 level on January 18, 2024. You may want to consider a long position or call options on DIA as a result. In 67 of 80 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 84%. The Moving Average Convergence Divergence (MACD) for DIA just turned positive on January 30, 2024. Looking at past instances where DIA's MACD turned positive, the stock continued to rise in 41 of 46 cases over the following month. The odds of a continued upward trend are 89%. Following a +0.89% 3-day Advance, the price is estimated to grow further. Considering data from situations where DIA advanced for three days, in 315 of 371 cases, the price rose further within the following month. The odds of a continued upward trend are 85%. The Aroon Indicator entered an Uptrend today. In 266 of 336 cases where DIA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 79%.
AMEX:DIAShort
by Serhii_Bond
Can DraftKings Overcome Key Technical Levels?Primary Chart : DraftKings Inc. Weekly Price Chart with Fibonacci Levels and Downward Trendline from All-Time Highs DraftKings Inc., an innovative sports-betting company, has been one of the hottest stocks of this week after it beat earnings expectations and raised revenue guidance. Many are likely chasing the stock's price here without any discipline whatsoever, being driven by fear of missing out and the possibility of untold gains from a former darling of growth investors. The magenta trendline on the primary chart, which is logarithmically scaled by the way, shows that the downtrend remains intact despite today's powerful rally. This downward trendline could be broken, by the way, if momentum is sustained by bullish seasonality and tailwinds into year end in a pre-election year. But a shorter-term down trendline has been decisively snapped with today's upside push, and this suggests near-term strength for DKNG. Supplementary Chart A And DKNG gapped above its key 50-day SMA today as well. Supplementary Chart B But this post does not recommend shorting or longing this stock; instead, its purpose is to analyze NASDAQ:DKNG and consider its current position in light of a severe bear market in 2021-2022 and a euphoric bull-market run in 2020-2021. With discipline, some trading profits might be made long or short given this stock's inherent volatility—the stock rose about 15% today and about 25% this week alone. But without risk management, this stock could easily obliterate anyone attempting to gather quick profits on a short-term to intermediate-term time frame. The stock is extended here after it gapped above key moving averages. It also has reached critical resistance at the .618 Fibonacci retracement after breaking above the 50% retracement on October 31, 2023. The .618 Fibonacci retracement lies at $34.25, a few cents above the high of the week and the day today. A bit of consolidation of today's move may provide traders with a bullish view into the new year (a time frame of about 2 months) a reason to buy the dip. But caution is warranted into 2024 and 2025—can technological innovation and earnings surprises be enough to sustain this stock? Your comments on this particular question are welcome. There may be room for some debate as macro headwinds cannot prevent rallies like the one seen in equity indices like SP:SPX and some growth stocks. But there is a decent likelihood that macro headwinds may work against DKNG as long as interest rates remain high and inflation does not disappear. The Federal Reserves funds rate is now at 5.25% to 5.50%, a 22-year high. And quick look at the TradingView's Financial overview shows that DKNG has not had positive net income yet. And its financial history is not that long yet: It was founded in 2011, and it has only been public since 2020. So despite the major earnings beat and positive guidance today, DKNG still lost $0.61 per share. Unprofitable growth stocks do not perform as well in high-rate environments. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NASDAQ:DKNG
by SquishTrade
24
DXY Outlook (1st Qtr 2024)Last year, despite the volatility in the markets (fight against inflation, SVB collapse, conflict in Gaza....) the DXY traded in a slightly consolidative range, between the 100 and 107 price levels (compared to 2022, where the DXY rose from 95 up to almost 115). The theme of the first quarter of 2024 is likely to be about if/when the Federal Reserve would begin to cut rates, from the current level of 5.25% down to 5%. Based on the CME FedWatch Tool, the Feds are likely to keep rates on hold in January, but there is a 72.4% chance of a rate cut at the March 2024 meeting. The DXY is currently at the 101.50 price level, finding support at the 100-round number area and the longer-term 61.8% Fibonacci retracement level at the 99.25 price level. A retrace to the upside can be anticipated early in the quarter. However, the upper bound of the bearish channel and the resistance level at the 104 price level could limit further moves to the upside. Look out for inflation and employment data to continue to support the Fed's view for rate cuts in March. This could lead the DXY to continue trading within the bearish channel. If the price breaks below the support level of 99.25, the DXY could trade down to the major support level of 95, and the lower bound of the bearish channel. Major Events to Watch 5th Jan: Non-Farm Employment Change 11th Jan: CPI y/y 26th Jan: Core PCE Price Index 1st Feb: Federal Funds Rate Decision and statement 2nd Feb: Non-Farm Employment Change 13th Feb: CPI y/y 29th Feb: Core PCE Price Index 8th Mar: Non-Farm Employment Change 12th Mar: CPI y/y 21st Mar: Federal Funds Rate Decision
TVC:DXYShort
by JinDao_Tai
4
⤵⤵ gold fundamental analysis)technical analysis). traders are you looking for a bearish trandline gold Market this week gold fullback down 👇 1980? Gold seller reject the resistance levels breakdown I think 💬 gold moving down 2040 fullback down 1980 Fundamental Analysis of Gold FXOPEN:XAUUSD TVC:DXY The outlook created by the fundamental analysis of the gold market remains strong with the growing uncertainty in the world economy and rapidly expanding money supply. As governments try to cope with financial turbulence, they print more and more fiat money (money that is not backed with material assets). This fuels inflation that eats away government bonds yields. If the yields themselves are lower than the inflation, then you actually lose purchasing power by holding these bonds. In such a situation, investors switch to assets they believe will allow them to preserve their wealth. Gold is precisely one of such assets. Entry 2021 Entry 2040 Target 1980 safe trade ❣️🙏 pales like 👍 and comments 👇
FXOPEN:XAUUSDShort
by SMC-Trading-Point
GJ major sell possibilityGoing over the current market structure it has rejected the continuation of the uptrend 5 times in my marked up zone.. that being said I think we might be in for a major move down. I have marked my entry below the lows of the liquidity areas and my stops halfway up the highs to minimize risk but still allowing the market to grab liquidity before moving bearish. *Other scenario would be if the market passes my marked zone we could be in for a continuation of an uptrend*
Short
by Noot-Trade
Bitcoin ended the uptrend and now we are going to new bottomIn this comprehensive analysis, we delve into Bitcoin's current market trajectory, highlighting a potential end to its recent uptrend. Based on the Elliott Wave Theory, we are currently observing a pivotal transition that could redefine Bitcoin's market value in the near term. Our analysis suggests that Bitcoin, currently hovering around the $42,000 - $43,000 range, is on the brink of a significant downturn. We anticipate a sharp decline to levels below $10,000, potentially reaching as low as $6,000. More dramatically, this descent might not halt until Bitcoin hits a staggering low of around $1,000. This price point is projected to be the foundational bottom, setting the stage for an unprecedented bullish wave. This expected downturn is classified as Wave 2 in the context of the Elliott Wave Principle. This phase is crucial as it typically precedes a strong bullish momentum. Our projections indicate that following this dramatic decrease, Bitcoin could enter a rapid and robust Wave 3, soaring to new heights between $130,000 and $150,000. This surge is not just a recovery but a monumental leap, potentially setting new records in the cryptocurrency market. It's important to note that while this analysis is rooted in well-established financial theories and current market trends, investors should approach with caution. The cryptocurrency market is known for its volatility and unpredictability. As such, this analysis should be considered as one of many possible scenarios, and investors should conduct thorough research and consider a variety of factors before making investment decisions. Stay tuned for updates and further insights as we continue to monitor Bitcoin's intriguing market journey.
BITSTAMP:BTCUSDShort
by BREAK-impossible
3
SOL/USDT Market Correction OpportunitiesWe are considering a scenario involving the decline in the SOL's value and the initiation of asset purchases. It is worth noting that the current correction to the $79.60 level represents a deviation of more than 37% from the prevailing local peak at $126.21. The price movement chart within the descending channel during the correction indicates a reduction in investment activity and profit-taking. Given the anticipated continuation of the downward trend and considering the potential attainment of price levels around $70 and below, we are contemplating the possibility of strategically re-entering positions in SOL to optimize the portfolio and capitalize on market conditions in our favor.
Long
by Rick_SimpleSwap
2
ETH/USDT 1H Short-TermHello everyone, let's take a look at the ETH to USDT chart on a one hour time frame. The price still remains below the local downtrend line. After unfolding the Fib Retracement grid, there is support at $2,470, followed by strong support around $2,380. Looking the other way, you can see how the price turned back before the resistance at $2,499, while we still have a strong resistance zone from $2,573 to $2,614. There is room for growth on the RSI, but the STOCH indicator has exceeded the upper limit and we have a visible rebound, with room for a larger price decline.
by cryptodailyuk