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SNAP: Post-Earnings Analysis!Hello traders and investors! Let’s see how SNAP is doing today! SNAP is dropping more than 25% the moment I write this analysis, and it seems nothing can save it. However, even in the most stressful moments, we can use technical analysis to understand the situation. Not by coincidence, SNAP dropped to the $ 57 area, which was a previous support on July this year. This is good, because SNAP didn’t drop to a random point, but the problem is that we don’t see any reaction. There’s not a single bullish structure around, and this is the first thing required in order for it to reverse. We don’t see any bullish chart pattern in the 1h chart, and it is too soon to talk about candlestick patterns in the daily chart. If we see a bullish reaction, it could be amazing, as the risk/reward ratio is looking good for those who are out of SNAP and want to buy it at the cheapest price possible. However, there’s no way we can buy without confirmation. As Livermore would say: “Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.” As far as we know, it could drop all the way to $ 49.90 again, and that would be great. Nevertheless, as someone who’s out of SNAP, I see this as a possible buy. Do you think a drop of 25% is fair, or the market overreacted? Either way, I don’t think this is a sell. The risk/reward ratio makes no sense. If I were shorting it, I would probably buy it back today, and take advantage of this movement. Before you leave, remember to support this idea if you liked it, and follow me to keep in touch with my daily studies. Have a good weekend!
NYSE:SNAP
by Nathan_The_Finance_Hydra
10
Potential Conter trend corrective underway in the EUR/NZDGood afternoon folks, Happy Friday! On our hunt for some potential ideas forming this morning, we came across an opportunity in the EUR/NZD. At the moment price seems to have formed a nice higher low and has surged to the upside with a particular degree of momentum. Given that we have such a huge gap away from our 8EMA, I would expect the gap close to be well under way before long. We did see something similar to this counter trend view earlier in the week before we saw another leg down but given where price is in the wider picture, having closed beneath major support, the likelyhood of a deeper corrective certainly seems to be on the cards. Wait for a potential trigger via the breakout and retest of the 1.62400 zone for a potential window of opportunity to seek longs to approximately 1.63300-400. Dont rush the process and trade the plan. Have a lovely weekend!
Long
by TheTradingRoom
NVDA: I warned you about the "Gap Reversal Ritual"!Hello traders and investors! As crazy as this sounds, but after almost one month, NVDA did exactly what we expected. It confirmed our theory about the “ Gap Reversal Ritual ” which we talked about in our last analysis ( link below), and now, it filled all its previous gaps, as we thought (I told you, I’ve never seen this structure failing). It only did one more gap after my previous analysis, which is something acceptable and this didn’t ruin the thesis at all – it just reinforced it . The reversal pattern that triggered the Gap Reversal Ritual was this Inverted Head and Shoulders , which worked as a confirmation . Now, we are close to the previous resistance at $ 225, and we see a Trap Zone , as the 21 ema is going up, squeezing the price against the resistance. If we are going to lose the 21 ema, or break the resistance, we don’t know yet, but we can work with scenarios in the daily chart. If we break the resistance, NVDA will probably seek the ATH again, as the momentum would be very strong. If we lose the 21 ema in the 1h chart, we'll probably seek the 21 ema in the daily chart. Now the situation on NVDA is not as easy to read as it was last month, but we can still work with targets. If you liked this analysis, remember to follow me to keep in touch with my daily studies on stocks and indices. Have a good day.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
3
Falling Wedge- BullishBig falling wedge on FUTU here along with bullish hidden divergence on the RSI, still a bit wary of the broader sector with all the FUD surrounding sector regarding SEC Chair Gensler's comments, nonetheless will certainly be watching for a breakout from this wedge. Additionally has a small gap on the upside to fill from $77.61 to $81.38- just some support and resistance levels to keep an eye on in the meantime along with some RSI-based supply and demand zones
NASDAQ:FUTULong
by jacobosiason7
Gap Fill- BullishWatching PINS closely here- Sold off after earnings, patiently waiting for a good entry- with a catalyst or an increase in buyer volume relative to seller volume should really pop- will be looking for a breakout broader market conditions permitting. Bullish, just some FIB levels along with some RSI-based supply and demand zones to keep an eye on. - Big gap to fill on the upside - Oversold on the RSI - MACD is seemingly about to cross PT1- $57.20 PT2- $58.85 PT3- $60.33+ Breakout
NYSE:PINSLong
by jacobosiason7
4
NIO: The most important resistance to keep our eyes on!Hello traders and investors! Let’s see how NIO is doing today! NIO dropped sharply last week, but it seems we have some reaction now. We started to trade above the 21 ema again, and yesterday we did a pullback to the 38.2% Fibonacci’s retracement area, which is a good thing. Now, the main challenge will be to defeat the $ 36.63. This point was a resistance on Oct 07, today we hit exactly this price again, and we failed in breaking it. I like how today’s first candlestick is looking, but the situation is still a little delicate. In the daily chart, we are trying to defeat the 21 ema, which has been working as a resistance area for a few months now. It seems the $ 36.63 is a pivot point in the daily chart, so if we manage to defeat these two resistances, NIO will probably do a mid-term reversal. If it actually reverses, the gap at $ 40.59 (yellow square) is going to work as a target. Let’s see how NIO will behave in the next few days. If you liked this analysis, remember to follow me to keep in touch with my daily updates. Have a good day.
NYSE:NIO
by Nathan_The_Finance_Hydra
4
PLTR: Trading near its bottom!Hello traders and investors! Let’s see how PLTR is doing today! As we thought in our last analysis, since PLTR lacked stronger bearish structures, it stopped at the gap area, which is working amazingly well as a support level. Now the bias is not bearish anymore, as the 21 ema got flat, and it seems PLTR wants to reverse. The $ 23.97 is a pivot point, and by breaking it, it’ll trigger the next movement to the $ 24.94, the next resistance. Now, let’s see the daily chart for more clues. Here we can see better, how the Gap worked as a support for us and the $ 23.19 is now the floor for PLTR. Since PLTR dropped too fast since the $ 29 area, it won’t be easy to reverse and resume the bullish bias, but the bullish reaction seen just above this support level is a good start. The only thing missing here is a good volume, and the price is still under the 21 ema, so let’s be careful. If you liked this analysis, remember to follow me to keep in touch with my daily updates. Support the post if it helped you! Have a good day!
P
by Nathan_The_Finance_Hydra
2
SPX: Next key points to watch!Hello traders and investors! Let’s see how the SPX is doing today! As we mentioned yesterday, the fight is not going to be easy here, and the index lost its support level yesterday, and it filled the gap as we thought. Now we have some new key points to watch. The 50% Fibonacci’s retracement is trying to hold the price for now, and the next retracement is the 61.8%. There’re more, but let’s work with these. Any bullish reaction confirmed around here would be an opportunity to buy. The trend is still bearish in the daily chart, and that’s why I said it won’t be easy for it to reverse. The 21 ema is a ceiling for the index, and it would be good to see the volume increasing again. The 4,300 area seems to be a strong support for the SPX, but we could hit there again if it doesn’t react quickly. We’ll have our answer soon. If you liked this analysis, remember to support it, and follow me to keep in touch with my daily updates! Have a good day!
SP:SPX
by Nathan_The_Finance_Hydra
6
TSLA: Still accumulating! What's next for us?Hello traders and investors! Let’s see how TSLA is doing today! The support at $ 760s worked nicely for us, since our last update, and now TSLA is trying to break free from this congestion. We’ve been moving sideways since the end of September, and the $ 800 price area is the ceiling for TSLA. As long as it doesn’t break the $ 800, and close above it, confirming a true breakout, we’ll keep moving sideways. On the bright side, we have some support levels to work with as well. The 21 ema is working well, and we have the $ 786 area. These points did a good job holding the price last week, and today, TSLA retested the $ 800 for the 4th time. In the daily chart, the bias is still bullish, and even if it corrects again, the 21 ema is there to work as another support level for us. By breaking the $ 800, the $ 821 is the next resistance seen on the chart. So far, we have no bearish structure around. If you liked this analysis, remember to follow me to keep in touch with my daily updates. Have a good week.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
5
SPX: A decisive moment on SPX!Hello traders and investors! Let’s see how the SPX is doing today! We see some very interesting movements here right now. In the 1h chart, it is holding around the 4,375 (previous top), which we talked about in my last analysis. This is a nice support level, and this reaction is important because it is trying to create a bullish structure. This could reverse the trend in the daily chart, but I agree that this won’t be that easy. This is the 3th time that we are retesting the 21 ema area, and any bearish reaction in the daily chart might trigger a pullback to the 4,365 (to fill the last gap, at least). Yes, the situation is still delicate, but we have no bearish sign confirmed yet. If it keeps above the 21 ema in the daily and hourly charts, this could be the reversal sign the index needs in order to truly reverse and seek the next resistances in the 1h chart. The moment is decisive on the SPX, and today’s reaction will give shape the next structure. Let’s keep our eyes open, and if you liked this post, remember to follow me to keep in touch with my daily updates. Have a good week.
SP:SPX
by Nathan_The_Finance_Hydra
9
BBVA Strong Opening GapBBVA is a Spanish bank that provides retail banking, wholesale banking, asset management, and private banking services. It offers banking services in Spain, Mexico, South America, the US, Turkey, Asia-Pacific, and Europe. This morning, Oct 5, BBVA opened with a substantial opening gap clearing two areas of S/R. Since Nov of 2020, BBVA has been in a solid upward channel. This gap comes after a recent test of the bottom of the channel. A volume spike accompanied the test of the bottom. On the daily chart, RSI and ADX both show an upward trend with room to run. However, the ADX does not offer much conviction. When looking at the weekly chart, we see the same lack of confidence in the ADX. But RSI is signaling a solid bull trend. When trading gaps, I place the stop loss at the high of the previous candle. If the price whipsaws and closes the gap, I want to be out as soon as possible. I placed it at 3:1 RR for the profit target since it is slightly lower than the top of the channel.
NYSE:BBVALong
by Ronald_Ryninger
PLTR: Just filled a gap! What's next?Hello traders and investors! Let’s see how PLTR is doing today! We had a Red Monday yesterday, and PLTR crashed along with the rest of the market. Now, what’s for us here? First, let’s keep in mind that PLTR just filled its gap at $ 23.19, and now we have the beginning of a bullish reaction. This candlestick pattern could be a Harami, which is not the best reversal pattern, I agree, but since it is near such a good support level, the odds of a reversal increases dramatically. In addition, PLTR has been dropping since Sep 24, but the volume was below the average. This is another sign that PLTR has been dropping just because it has been following the market. We still don’t see any meaningful bearish structure that could sustain this drop for too long. In fact, there’s a good chance that we just hit the bottom for now. What we must see is a clearer bullish structure in the 1h chart: If PLTR closes above the previous support level at $ 23.67, it’ll be a good sign, but what we really must see is a bullish structure. So far, PLTR has been doing lower highs/lows, and as Dow would say: Trends persist until a clear reversal occurs. This week is going to be decisive on PLTR, and if you liked this analysis, remember to follow me to keep in touch with my daily updates. Have a good day!
P
by Nathan_The_Finance_Hydra
5
BTC TRUTH ! The Securities and Exchange Commission has extended the deadlines for four Bitcoin ETFs. The Commission cited the need for additional time to “take action on the proposed rule change.” Cryptocurrency proponents remain hopeful for the approval of a US Bitcoin ETF in the near future. Exercising its statutory powers, the SEC has extended the time frame for revealing its decision on four Bitcoin ETF proposals. The extension will give the Commission sufficient time to go over the finer details of their applications amid mounting optimism. SEC Flexes Its Statutory Powers The SEC has extended the time for reviewing applications of Bitcoin ETFs by 45 days. The affected proposed Bitcoin ETFs are Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, Krypton Bitcoin ETF, and WisdomTree Bitcoin Trust with the last ETF to be approved on December 24th. This move is in line with the statutory powers bestowed on the SEC. According to section 19(b)(2) of the Securities and Exchange Act (1934), provides that “within 45 days of the publication of the notice of the filing of a proposed rule change, or within such longer period up to 90 days (i) as the Commission may designate if its finds such longer period to be appropriate and publishes its reasons for so finding…”. The reason put forward by the SEC for the extension of time is to obtain “a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and any comments. In the end, the Commission shall “either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change. Bitcoin ETF On The Horizon In recent months, the SEC has received a spike in Bitcoin ETF applications as the community believes the time is ripe. In September, Invesco teamed up with Galaxy Digital to submit a proposal with the number of applications soaring to unprecedented levels. Bloomberg’s Senior Commodity Strategist, Mike McGlone famously predicted that the community could see the launch of a Bitcoin ETF before the end of October. Gary Gensler, the Head of the SEC, is of the opinion that the type of Bitcoin ETF that could most likely obtain approval is the Bitcoin Futures ETF. The SEC currently has over 12 applications it has to review but remains concerned about the potential for market manipulations that they possess. An approval will open the floodgates for applications and could send BTC prices on a price rally.
CME:BTC1!
by globalsymmetrygroup
AMZN: Some scenarios to work with!Hello traders and investors! Let’s see how AMZN is doing today! Since our last analysis, AMZN triggered the bullish signs we were focusing on, and it went up nicely, until it gave us a reversal sign. Now, AMZN is not bullish anymore, but it is still not bearish at all. Since we just retested the previous support level at $ 3,305, AMZN has been moving sideways. The volume is very high, and this might indicate that the moment it starts to react, we’ll see something good around. Now, let’s work with scenarios. For a bullish scenario to materialize, we must see AMZN triggering the $ 3,351 . This will create a reversal pattern and lead AMZN to fill the two previous gaps in the short/mid-term. What if AMZN loses its support? Then the daily chart will give us more clues. If AMZN loses its support in the 1h chart, it’ll also lose the 61.8% Fibonacci’s Retracement for good, and there’s no other support level to work with, only the $ 3,175 area. Only time will tell what AMZN will do next, however, we can always work with scenarios to prepare ourselves. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you! Have a good day.
NASDAQ:AMZN
by Nathan_The_Finance_Hydra
1
NVDA: The Gap Reversal Ritual.Hello traders and investors! Let’s see how NVDA is doing today! In the 1h chart, we did a false breakout from the previous support at $ 206, and we are going up nicely today. In fact, today’s reaction is quite important, as this might be the beginning of the famous Gap Reversal Ritual . NVDA did three different types of gaps during its last bearish leg. First, it did a Runaway , triggering a pullback to the 21 ema. The second gap is a Breakaway , as it is losing the 21 ema and the previous support at the same time. The last gap seems an Exhaustion , as it looks like it was the final push for NVDA to hit its technical support at $ 206 area. Now, if NVDA confirms any bullish chart/candlestick pattern reversal, we could fill all the three gaps in the mid-term . The next challenge is to defeat the 21 ema. In the daily chart, there couldn’t be a better support level. We barely retested the 61.8% Fibonacci’s Retracement , and now it seems we are trying to defeat the 50% retracement, which is the same point where NVDA did a top on July ( coincidence or not ). If NVDA truly reacts around this meaningful support level in the daily chart, defeats the 21 ema in the 1h chart, and confirms a reversal, it’ll trigger the Gap Reversal Ritual for good, and the chances that it’ll fill all the gaps will be quite high. In fact, I’ve never seen this pattern failing. This happened many times in the past with TSLA, AAPL, GOOG and many others. For now, let’s just wait for more confirmation. Remember to follow me to keep in touch with my daily updates, and if you liked this idea, please, support it ! Have a good day!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
5