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AAPL: Possible reversal pattern? Some scenarios to work with.Hello traders and investors! Yesterday, AAPL hit our target and it filled the gap we mentioned in our last study. Now, what to expect next? Now that the markets crashed, we have some interesting key points to watch. In the 1h chart, AAPL is recovering nicely, and if it fills the last gap at $ 159.75, this will confirm an Exhaustion Gap, and that might be the first sign of a possible reversal in the future. However, it is important to stress that for confirmation sake, it would be good to see AAPL doing a clear bullish chart pattern in the 1h chart, and so far, we have none, so the trend is still bearish. If AAPL closes above the black line at $ 157.17 in the daily chart, it’ll be another good sign. Today’s candlestick is quite powerful, and despite the drop, some might see it as a risky buy. I won’t judge, since I understand, but again, I would wait for more confirmation in the 1h chart. Without any other meaningful bullish sign all we can assume is that AAPL is seeking the $ 147 again. But, where would be the target if AAPL truly reverses? Look back at the 1h chart, and pay attention to the last 3 open gaps (yellow squares). I see AAPL filling all of them, triggering the Gap Reverse Ritual pattern (yes, I invented that name, as no one else did). The Gap Reversal Ritual never failed me, and the last time we saw it was on NVDA, and I did a public analysis about it (link below, if you are curious). This pattern is quite hard to work with, but if you nail the right timing, it might give you great returns. I’ll keep you updated on this, so remember to follow me to keep in touch.
NASDAQ:AAPL
by Nathan_The_Finance_Hydra
2
NVDA: This is the MOST important RESISTANCE for the short-term.Hello traders and investors! Let’s see how NVDA is doing today! In the 1h chart, we couldn’t fill the gap at $ 228, but we almost hit there. Now, we see the beginning of a reaction, and this might be something good. However, we don’t see a true reversal pattern yet, only a sideways correction. The trend is still slightly bearish, as we are under the 21 ema (and it is pointing down). Everything could change the moment NVDA breaks the $ 237 again, and starts trading above the 21 ema. The daily chart reveals a strong bear trend, and the purple trend line is the main resistance for us in the mid-term. If NVDA breaks the 21 ema and $ 237 in the 1h chart, we can expect another retest of this purple line. Now is the best time for a reaction, as we are holding above the 61.8% retracement. The technicals suggest a short-term reversal, but NVDA must trigger its signs first. Let’s pay attention to the key points mentioned in this analysis for now. I’ll keep you guys updated every day, so remember to follow me to not miss any of my future analyses!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
3
AMD: Time to buy or to sell? Watch these KEY POINTS for now!Hello traders and investors! Let’s see how AMD is doing today! We have some points to update since our last study. It is good to see how AMD looks resilient, as unlike many other stocks, it is not losing its key supports in the short/mid-term. I was hoping it would fill the gap at $ 105, and it still could do it, but we have a possible bullish reversal sign right now. In the 1h chart, we see a possible Inverted H&S chart pattern. I say “possible” because the pattern wasn’t triggered yet, but if it does, AMD could easily reverse to the $ 132 again and fill its gap near the previous top. The trigger point for this IH&S is the $ 118 area (red line). This is the only bullish pattern I see around that could save ADM from the $ 105. So far, the Fibonacci’s retracements have been doing an amazing job holding the price, and only if we lose 61.8% retracement I will believe in sharper correction. For now, I’ll remain neutral, just waiting for an opportunity. Therefore, let's pay attention to the key points mentioned in this analysis, as they might offer good opportunities for us in the near future. Remember what the greatest trader that ever lived once said: “There is time to go long, time to go short and time to go fishing.” - Jesse Lauriston Livermore. I’ll keep you guys updated on this, so remember to follow me to not miss any of my future analyses.
NASDAQ:AMD
by Nathan_The_Finance_Hydra
1
SPX: What could technically reverse the trend? Check this out!Hello traders and investors! Let’s see how the SPX is doing today! First, it hit our target at 4,292, and it seems we see some reaction in this area. We identified the 4,292 as an important support level, and so far, it is working. The link to my previous analysis is below this post. The fact the index is stabilizing in a support area is a good thing, however, it is not enough to reverse the trend. Remember: Trends persist, until a clear reversal occurs (Dow Theory 6th tenet). No clear reversal? It is still a bear trend. However, we do have a possible reversal chart pattern, which is still in formation. We see a possible Double Bottom chart pattern, and for this pattern to be triggered, we must break the 4,333 (the peak between the valleys). This would break the 21 ema at the same time, and the target for this bullish leg would be the Breakaway Gap at 4,472 (red line). The index is in a support level in the daily chart too, as evidenced by the black line. So far, this drop was intense price-wise, but weak volume-wise. This makes the index more vulnerable to catalysts, and the volatility might increase dramatically when this happens. Despite the possible bottom sign in the 1h chart, we see no meaningful reaction in the daily chart that justifies a buy at this moment, but I agree that we could see one soon. If this reaction could reverse the mid-term trend as well, it is a different story. Either way, I’ll keep you guys updated every day on SPX, so remember to follow me to not miss any of my future analyses.
SP:SPX
by Nathan_The_Finance_Hydra
1
TSLA: The LAST support in TSLA! It must react quickly!Hello traders and investors! Let’s see how TSLA is doing today! As we mentioned yesterday, TSLA is trading at the support area, around $ 792, which is the most important support level for the mid-term. Now, is the last chance for TSLA to react, and if it doesn’t, it could easily drop more $ 100 at least. Remember, the link to my previous analysis is below this post. So far, it seems it is trying to stabilize in this area, but just some stabilization is not enough, and we must see a true bullish reversal structure in order to believe TSLA is a buy again. As long as this doesn’t happen, I’ll remain neutral, as the risk/reward ratio is not good for short-trades, but there’s nothing telling me to buy TSLA right now. However, if we see a bullish reaction, the gap at $ 920 would be our next target. Remember: TSLA always filled the gaps that appeared above the price, 100% of the time. This is not true for gaps that appeared under the price, though. This is why if TSLA loses the $ 792 for good, it could drop at least more $ 100. The next support in the daily chart is this purple trend line, and it wouldn’t be interesting at all for TSLA if it retests this level. The volume is low, and this makes the stock vulnerable to catalysts, good or bad. So far, we see no meaningful buy signal, but the moment it does, it would be an incredible buy opportunity. I’ll keep you guys updated every day, so remember to follow me to keep in touch with my analyses.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
17
TSLA: Next supports/resistances to know! - Complete analysis.Hello traders and investors! Let’s see how TSLA is closing this week! First, in the 1h chart, it dropped sharply after it lost our support level at $ 878 (gap). Now, we must update our key points. Yes, TSLA lost yesterday’s support, however, it is a good thing that it stopped dropping after it filled our gap at $ 847. This indicates to us that this is another important price level for TSLA, and it won’t be easy for it to lose this point. Since TSLA dropped sharply from its previous top, a pullback to the 21 ema is expected now that we reacted at our support. In the daily chart, we see that the $ 847 is very close to the 61.8% retracement in the daily chart, which reinforces our idea that TSLA found a bottom (at least for now). The volume is still low, and despite the good reaction in the 1h chart, we don’t have any bullish confirmation in the daily chart. Of course, the 1h chart will always be the first one to react, and this could be the beginning of a bounce back up to their next resistances, but I would like to see confirmation in the daily chart too. What are the next resistances? The $ 878 is our immediate resistance in the 1h chart. What if TSLA loses the $ 847 again? Then the next support is the $ 814. Either way, we must wait for confirmation next Tuesday. Personally, I would be very happy to buy TSLA if it reacts, as it seems I would be buying near a support level in the weekly chart: It seems the problem in TSLA, as you can see this on the daily and weekly charts, is the low volume. This is a problem and a good sign at the same time, to be honest. It is problematic because we must wait for the volume to increase again in order to see a new good movement. It is a good thing because TSLA is dropping because the market is just afraid. Investors don’t want to buy high-growth stocks in the current scenario, and this makes stocks like TSLA weak and vulnerable. If it was dropping due to true sell pressure, that would be a real problem. Nevertheless, it seems no one wants to short TSLA now, probably because we are near support levels, and it is too late for that – a good sell was at $ 1,200, not at $ 800. We must watch TSLA carefully, and I’ll keep you guys updated every day on this, so remember to follow me to keep in touch with my analyses.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
8
AAPL: Our next support levels! Complete trend analysis.Hello traders and investors! Let’s update our thoughts on AAPL today. In the 1h chart, AAPL filled the previous gap, and it lost the previous support at $ 170, reversing the trend and now it looks bearish. The next support for it is the $ 166 area (green line). Any reaction there could be a buy sign, but we must wait for confirmation. If AAPL loses this green line, then the next support level is the gap at $ 159. In the daily chart, AAPL is quite weak, trying to lose the 38.2% retracement. Usually, when a stock respects the 38.2%, as AAPL did on Feb 14, if it drops again it ignores the 50% and goes straight to the 61.8%. The 61.8% retracement is going to be a strong support for AAPL, if it drops to this point. Now only because it is an important retracement, but because it is exactly where the 21 ema is in the weekly chart: Lon-term speaking, AAPL is still bullish, and a pullback to its 21 ema wouldn’t change this view. For now, we must keep our eyes on the $ 166 area, as it is our immediate support level, and wait for more signs. I’ll keep you guys updated, so remember to follow me to keep in touch with my daily analyses.
NASDAQ:AAPL
by Nathan_The_Finance_Hydra
1
NVDA: Breaking all its supports! What's next for us?Hello traders and investors! Let’s see how NVDA is doing today! It is crashing, so we have a few things to update. This is going to be a complete multiple time frame analysis (MTFA). We'll study the H, D and W charts. In our last analysis, yesterday, we identified a support level at the purple trend line, which was lost today. We can’t say NVDA is bullish anymore, but is there still time for a reaction? Right now, with the information we have, we must assume it is heading to the gap at $ 228. As long as we don’t see any meaningful reaction, NVDA will keep dropping to its support levels. The only thing that could save it today would be if it reacts, and closes above the $ 237 area (previous support). This could be a false breakout and a bear trap. It’ll all depend on how it’ll close today. In the daily chart, since we hit our purple trend line again, it has been just dropping, and the 61.8% retracement is its last support in this time-frame. Since this retracement is quite close to the gap mentioned in the 1h chart, it seems this is going to be a strong support area, and NVDA has good chances of reacting there. NVDA still looks bullish in the weekly chart, but it is giving signs of weakness. In the past three weeks, it couldn’t break its 21 ema at any cost. In fact, look at the size of the shadows of the last two candles. Every candlestick tells a story, and the fact the buyers tried very hard to keep this up, and were dragged down like this, is never a good sign. This is a true sign of weakness. For the short/mid-term, we must keep our eyes open if we’ll see it reacting and closing above its support. If not, then our gap is the next target to work. In the long-term, NVDA requires a strong bullish structure to become bullish again. I’ll keep you guys updated, as usual. Remember to follow me to keep in touch with my daily analyses on stocks and indices.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
8
AMD: Is there any hope for it? A complete analysis.Hello traders and investors! Let’s see how AMD is doing today! First, it did trigger the Bearish Flag we mentioned in our last analysis, and it seems it is just heading to the $ 105 (previous gap). The link to my previous analysis is below this post. The trend is clearly bearish, and there’s not a single bullish sign around, and this is the only thing that could save AMD now. Remember, trends persist until a clear reversal occurs ( Dow Theory 6th tenet). No clear reversal sign? The bear trend will persist. Trading is reactive, not predictive. In the daily chart, we see that AMD is losing its 61.8% retracement, indicating a possible further drop. Our previous support in the daily chart is the $ 99.67 area, and we can see this point better from the weekly perspective: Last week, we did a a candlestick pattern called Dark Cloud Cover, just under the 21 ema, and we are triggering this pattern this week. This reinforces a bearish thesis, and the area at $ 99.67 seems quite important. This point was a resistance on Jan 2021, was a support multiple times in Sep – Oct last year, and was a support last month too. As long as we don’t see nothing surprising on AMD, the $ 99.67 is our next target. I’ll follow it closely and keep you guys updated. In this case, remember to follow me to keep in touch with my daily analyses.
NASDAQ:AMD
by Nathan_The_Finance_Hydra
5
SPX: Crashed today! Where are our next supports?Hello traders and investors! Let’s update our thoughts on the SPX today! First, in the 1h chart, it filled the previous gap at 4,411, and now it seems the index is seeking its next support at 4,365 (red line). If this drop was reasonable or not, it doesn’t matter, but I find it curious that it did a Breakaway Gap today. This usually means panic. Either way, the support at the red line is the most important one, and we must focus our attention there. When we look at the daily chart, we have more clues: Coincidence or not, the red line in the 1h chart is at the same price level the 61.8% retracement is in the daily chart. This makes this point a very strong support, and it won’t be easy for the SPX to break it. If we do lose it, the index could easily drop more 90-100 points to its next support area. However, I’m personally skeptical of any movement here, as the volume is still low. All we can assume is that this is a bear trend, and as long as it stays under the 21 ema, doing lower highs/lows, it won’t reverse again. Let’s focus on its support levels for now, and see what happens. Either way, I’ll keep you guys updated, so remember to follow me to keep in touch with my daily analysis.
SP:SPX
by Nathan_The_Finance_Hydra
3
AMZN: Two scenarios to work with! [UPDATED]Hello traders and investors! Let’s see how AMZN is doing today! I'm updating the key points I mentioned in my previous analysis (link below). First, in the 1h chart, it failed miserably in breaking our previous resistance at $ 3,169, so, no bull trend here. However, this is not a bear trend as well, as there’s no lower highs/lows. Instead, we see a sideways correction between the two black lines. From here, we can imagine a few scenarios on AMZN. If it breaks the upper black line, great, it’ll be bullish again, and the $ 3,337.56 would be our next target, as evidenced in the daily chart below. However, by losing the lower black line, the red line at $ 3,034 would be its next stop. In the worst-case scenario, it could lose this red line and fill the last gap (yellow square). As we see in the daily chart, the green line is the $ 3,337.56, and it has a reason why it is our target: It is a previous resistance. Since AMZN is doing higher highs/lows in the daily chart, this would be our next stop after doing a new high. On the other hand, by losing the red line, we see that AMZN would trigger a bearish pivot point, a bearish reversal structure and it would do a lower high/low, frustrating the bullish thesis. Therefore, we must watch all these key points very closely from here. The moment is decisive on AMZN, and I’ll keep you guys updated on it. In this case, remember to follow me to not miss my future analyses.
NASDAQ:AMZN
by Nathan_The_Finance_Hydra
1
TSLA: Crashed today! Time to panic-sell?Hello traders and investors! Let’s update our thoughts on TSLA today! As we mentioned in our previous analysis, the $ 896 was the most important support level, and that said, the moment we lost it today, TSLA melted. However, it is not doing anything unexpected. In fact, it is doing what I said would be “the worst-case scenario”. The link to my previous analysis is below, as always. First, in the 1h chart, TSLA lost its 21 ema, along with the $ 896, just to fill the last gap at $ 878, and to retest the purple line area, which was a technical target we already mentioned. To me, TSLA is inside a huge Ascending Triangle pattern, and since we are near its bottom, it is time to react. However, TSLA must react quickly, preferably tomorrow, in order to reverse and seek the $ 943 again. Otherwise, it’ll resume the bearish bias all the way down to the 61.8% retracement in the daily chart, at least. It is important to stress that although we are near support levels in the 1h chart, TSLA is still in a bear trend in the weekly chart, and its 21 ema is working as an annoying resistance. Another thing is that the volume must increase, or it won’t go up properly. Remember one of the most important Dow Theory’s tenets: The volume must confirm the trend. For now, we must wait for a proper reaction near its support before calling TSLA a buy again. Since we at support levels, I don't think this is the time to panic or sell. Instead, we must calmly watch for more signs, as are during times like this that the best opportunities to buy usually appear. Either way, I’ll keep you guys updated every day on it, so remember to follow me to not miss any of my analyses.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
2
SHOP: Is it a good idea to BUY the DIP?Hello traders and investors! Let’s see how SHOP is doing today! It is crashing after earnings, but is it now a good time to buy? After all, “buy when there’s blood in the streets”, right? Personally, I always like to buy the dips, never the tops, however, as I like to say, there’s a right way of doing it – and there’s a wrong way. The charts can help us a lot here. Yes, SHOP dropped from $ 1,700s to $ 700s, and it seems nothing can help it. This week, we filled a gap at $ 765, from June 2020, and this is interesting. Remember: Gaps work as magnets. This gap could become a very good support level for SHOP, however, we must always wait for confirmation. So far, there’s not a single bullish reversal sign, and as far as I know, it still could drop more, to the next support at $ 683, so caution is advised. What could be a bullish reversal pattern? Any bullish candlestick pattern in the weekly chart, like a Bullish Engulfing, Piercing Line, etc. Alternatively, a bullish chart pattern in the daily chart, like an Inverted Head and Shoulders, a Bullish Pivot Point, Double Bottom, etc. Let’s never buy something because it dropped too much, because it is near support levels, or it “looks oversold”. Let’s use technical analysis in our favor, as we can enhance the odds in our favor, and do the proper risk management using charts. Either way, we must wait for more signs, but SHOP is a good stock to add to our watch list. I’ll keep you guys updated, so remember to follow me to not miss any of my future analyses.
NYSE:SHOP
by Nathan_The_Finance_Hydra
AMD: Triggering a Bearish Flag? Time to panic?Hello traders and investors! Let’s see how AMD is doing today! First, AMD triggered the pivot point in the 1h chart that we mentioned in our last analysis (link to it is below this post), however, the market is trying to frustrate our previous bullish thesis. Let’s update our thoughts. The problem on AMD is that it is triggering a possible Bearish Flag pattern in the 1h chart, and this could lead us to the open gap at $ 105.39, which is a nice target for us here. There’s still time for a reaction, and AMD could avoid this bearish scenario, but it must react quickly in order to reject this pattern. In the daily chart, we see that it wouldn’t be easy for AMD to drop all the way to the last gap, as it has its Fibonacci’s Retracements working as support levels too. For now, I must say I’m neutral on this, as we see better options around, but it all depends on how it’ll react from here. Any good reaction now, or at the gap at $ 105 could be a great opportunity to buy or add positions. I don't see it as an opportunity to sell, as the Risk/Reward ratio is not attractive to me. I’ll keep you guys updated on this, so, remember to follow me to not miss any of my future analyses.
NASDAQ:AMD
by Nathan_The_Finance_Hydra
SPY: Bullish reaction or Dead Cat Bounce?Hello traders and investors! Let’s see how SPY is doing today. Yesterday, we successfully identified a bottom level, and now it is reacting accordingly. What’s next? In the 1h chart, it gapped up, and now it is trading above the 21 ema. This is a very good sign, and in theory, it will keep trending as long as we don’t see a reversal around. What could ruin the bullish bias? If it loses the $ 443.22 (green line). Then SPY could easily fill the gap at $ 440. Now, let’s see the daily chart: There’s still some upside potential, and here we see clearly why I said the index was close to its bottom yesterday: It just hit its 61.8% retracement. Today’s reaction confirmed a good reaction, therefore, I see it at its 21 ema next. The link to my previous analysis is on the link below, as always. If it'll do a Dead Cat Bounce or not, we'll know in a few days, especially if it actually retests its next resistance. For now, we must wait for more confirmation and see how it'll react near its next resistance. Remember, technical analyis is reactive, not predictive. For now, we can only guess. Although pullbacks are plausible, SPY must not lose its green line in the 1h chart, otherwise it could drop to the 61.8% retracement again. I’ll keep you guys updated on SPY every day, so, remember to follow me to keep in touch with my daily analyses.
AMEX:SPY
by Nathan_The_Finance_Hydra
42
TSLA: Where's the next resistance? Is this a Dead Cat Bounce?Hello traders and investors! We successfully identified yesterday as a bottom level, and today it is going up sharply after it triggered the key point we mentioned. In our previous study, I mentioned the $ 896 as our main key point. Today it broke this point by doing a Gap, making it a Breakaway Gap. TSLA could retest the $ 896 as a support again in the future, and this wouldn’t ruin the bullish bias – in fact, it could just be another buy sign. It must not lose this support again, though, as the gap at $ 847 might work as a magnet for the price. However, as long as we stay above this line, TSLA will remain bullish. Now, it seems we are just heading to the $ 943, and if we don’t see anything surprising, we could hit it this week. When we look at the daily chart, we see that TSLA is reacting at its Fibonacci’s Retracements, and as I mentioned in our last study, this is the best place for a reaction. The link to my previous analysis is below this idea, as usual. It seems to me TSLA is heading to the $ 943, but I agree that the 21 ema might offer some resistance in the short-term. If we fail in breaking the ema, the market might see this just as a Dead Cat Bounce, and this is why we must pay attention to this level in the next few days. Yes, TSLA has its risks, but given today’s reaction, it seems it is becoming bullish again. Let’s follow it closely from now on, and I’ll keep you guys updated on this, so, remember to follow me to not miss my daily analyses.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
1
AMD: This pivot point could trigger a reversal on it!Hello traders and investors! Let’s see how AMD is doing today! First, the stock failed miserably in retesting the $ 141, which is still a technical target for it, but the moment it lost its 21 ema it got too weak. However, the recent drop seems ok, as it just went down to fill the previous gap at $ 117.26, and it seems it is stabilizing in this area now. Remember: Gaps work as magnets, and they are nice support/resistance levels to work with. Now, the most important key point to watch here is the green line at $ 118.37. This point is a pivot point, and since AMD already did a higher low, by doing a new higher high it’ll be a good sign that the trend is reversing. By breaking this pivot point, the next gap at $ 132.33 is the next target to aim, at least in the short-term. For now, we must wait for more confirmation. In the daily chart, we see that this reaction couldn’t be more convenient. We have many Fibonacci’s Retracements to hold the price, and it seems the area around the 50% and the 61.8% is doing a great job. The only scenario where AMD would be bearish is if it fails in triggering the pivot point, and loses the 61.8%. In this scenario, it could easily retest the $ 99.67 again. For now, it’ll be extremely important to watch the pivot point in the 1h chart, and to monitor the retracements in the daily chart. I’ll keep you guys updated on this, as usual, so remember to follow me to not miss any of my future analyses. Have a good day, Nathan.
NASDAQ:AMD
by Nathan_The_Finance_Hydra
NVDA: We nailed the bottom! What's the next target?Hello traders and investors! In our last study on NVDA, last week, we did a very competent job, and we nailed where the bottom would be. Now, it is going up sharply, so we must update a few things. Oh, and the link to my previous study is below this post, as usual. In the 1h chart, NVDA did exactly as expected, and hit our support level at $ 239, and I did a bullish pattern there, as I warned – in this case, a classic Double Bottom chart pattern. Now, NVDA is flying, and it seems it wants to retest the previous resistance at $ 269.12 (green line). In addition, it did a Breakaway Gap today, indicating some strength. However, there is still a reason to be cautious, which is the purple line in the daily chart. This line tells us that NVDA is still bearish in the daily chart, and we must watch it carefully around this line, as any top sign could make it drop again. Given the reaction in the 1h chart, it has good chances of breaking this resistance, but we must wait for more confirmation. I’ll keep you guys updated on this, so remember to follow me to not miss any of my future analyses. All the best to you, Nathan.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
2
NVDA: What's the problem with it? A Multi Time Frame Analysis.Hello traders and investors! Let’s see what’s the problem with NVDA, and do a Multi-Time Frame Analysis (MTFA) on it. In the 1h chart, it seems it just filled its previous gap, and it is heading to the next support at $ 246. However, despite the lack of bullish reaction, the trend is still bullish (in the short term), as NVDA is still doing higher highs/lows. It could be a stronger trend, yes, as we are below the 21 ema now, but it is still bullish. If NVDA loses the $ 246, the bull trend will get weaker, and it might retest the $ 239 in sequence. The recent bearish reaction shouldn’t be surprising, as in the mid-term, NVDA just hit a resistance level: We hit the purple trend line in the daily chart, and although NVDA is really trying to reverse, it seems to me it must break this line for good in order to say it is a bull trend in the mid-term again. Ok, so, we have a bull trend in the short-term, bear trend in the mid-term. How about the long-term? We have another resistance here, which is the 21 ema. If it closes above the ema this Friday, great, I’ll consider it a good sign. The trend is clearly bullish in the weekly chart, and maybe this last drop will be part of a huge Flag pattern in the long-run. For now, we must keep an eye on the next support levels, and wait for a good reaction there. If this happens, the mid-term trend might reverse. I’ll keep you guys updated on this. If you liked my analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped. Have a good weekend, Nathan.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
2
SPX: Could it reverse and fill the GAP at 4,652?Hello traders and investors! Let’s see how the SPX is doing today. First, in the 1h chart, it lost the support level we mentioned yesterday, triggering a bearish reaction, as expected. The correction was quite sharp, but is this a reason to panic? To be honest, I was expecting a sharper correction, maybe to the previous support at the black line, but the index is trying to find support already. Yes, it still could retest the 21 ema and do a Dead Cat Bounce all the way down to 4,453. However, I'm not too convinced of that, and it is important to look at the Futures for more clues: The index hit its previous support today at night, at the 4,456 (red line), and it is bouncing back up nicely. It found a resistance at the 50% Fibonacci’s Retracement, and it is trying to stabilize today. As far as I know, the best moments to buy are near support levels, like red line, and sell near resistances, like the blue line. Given the way the SPX and the Futures are looking, it is plausible to see more upside potential, the question is, for how long it could go up. Regardless of how the index reacts in the 1h chart, I still see the 38.2% retracement in the daily chart as the most important support level for the mid-term. By losing this retracement, it would trigger a Double Top chart pattern, and it could easily slip towards the 61.8% retracement. If we’ll see a Dead Cat Bounce or not, we don’t know yet, as we lack confirmation on the charts. Any comment on that would be just a guess. However, if the SPX breaks the resistance (previous support) at 4,531, this could be a nice false breakout, and the index might trigger a pivot point that could help it to break the resistance at 4,583 and fill the next gap at 4,652. It’ll depend on how the index will close today. I’ll keep you guys updated, as always. If you want to keep in touch with my daily analysis on indices and stocks, remember to follow me, and to support this idea if it helped you. Have a good weekend. Nathan.
SP:SPX
by Nathan_The_Finance_Hydra
2
DIS: Time to BUY after amazing EARNINGS?Hello traders and investors! Let’s talk about DIS today, as it is flying after earnings, and do a complete Multiple Time Frame Analysis (MTFA) on it. When we see a movement like this, it is important to not get emotional and euphoric, and see the situation as it is. As a trader and long-term investor in DIS, I’m very pleased with this movement, however, is it the right time to buy it? No. The reason is very simple: DIS just hit a target, which is the gap at $ 155.18. This point is supposed to work as a resistance in the short-term, and the odds are that DIS will do a pullback from here. If not a pullback, at least a sideways correction. So, what to do with DIS? It depends on your strategy. If you are a short-term trader I think it is time to book profits, if not totally, at least partially. If you plan on buy DIS, or add positions, wait for it to get near a support level again. Remember what I always tell you guys: Buy near supports. This way, you’ll maximize your Risk/Reward. If DIS drops to its 21 ema, that’s ok. To me, would be great to see DIS repeating what GOOG did after its earnings: The bias would still be bullish, and it would be a second chance to add positions here. I say this only because I still believe DIS will fill all its previous gaps: This reaction came in just in time, as in the weekly chart DIS filled a gap from Nov 2020, and found a very nice support level there, before it did a classic Hammer candlestick pattern: Even with the possibility of a pullback in the short-term, DIS is doing a very good reaction in the daily chart, and we have two other gaps at $ 173 and $ 182, which are targets of this reversal movement. The weekly chart reinforces this idea of a pullback in the short-term, as DIS just hit its 21 ema there, and this might be another resistance for us, along with the gap area in the 1h chart. It will probably take a few months to recover, but the signs are looking good. To me, DIS is doing what I like to call “gap reversal ritual”, a pattern that never failed me before, and I talked about it in a very old analysis I did on NVDA, last year (link below this post). Remember to follow me to keep in touch with my daily analysis on stocks and indices. Let’s keep our eyes on DIS, as probably we’ll see more opportunities here soon. All the best.
NYSE:DIS
by Nathan_The_Finance_Hydra