Gap
What's next for us? 🤓Ok, didn’t trigger any good buy recently, and it is just falling to its supports. It lost all the Fibs retracements we talked about last week (but they did work pretty well for some time), and now it seems all is red for NIO.
The good news is that the RSI is very oversold, meaning we might see a rally tomorrow to the 48. The problem is that we aren’t near any support, but are close to the gap and the 44.89.
The 4h chart is not oversold, and this indicates we might still close the gap and hit the support at 44.89, or the 43.89. We have no important sign, but the conflict between time frames is interesting. Will NIO do a rally to the 48 in the 30min, or will it fall to the supports in the 4h chart?
There’s nothing interesting here for now, but I’ll keep you guys updated.
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Melissa.
EBIX the Mother of All GapsThis small cap gem should be a fun one for swing traders as the asset has nicely put in higher lows and higher highs in price for the last 15 months or so.
And now at this moment it has 2 nice bullish setups going for it:
1) support at its $31 dollar level where there is also the 21 MA just below it as well.
2) a giant crater of a gap that needs to be filled still at around $47.15.
If the price was to fill this gap that would result in a +35% move to the upside from where we currently sit.
The ultimate target sits around $54, however.
If this $31 level continues to hold, lookout as this asset could move quickly.
Weekly candle close below $31 would be enough risk for me to exit the trade.
Keep that bearish scenario in mind as many traders may be attempting to play this gap also.
PLTR: Time to panic? A Multiple Time Frame Analysis!Hello traders and investors! As you asked, I’ll look at PLTR again this week! Some people are getting nervous about it, so, let’s talk about it. We'll do a complete Multi Time Frame Analysis (MTFA) today.
First, as some of you pointed out, yes, we have a H&S pattern in the 1h chart, which was triggered, and it already hit its technical target, at $ 24.52 (previous bottom).
Now, not by coincidence, it is starting to react. This point is a good bottom candidate.
If you look at the daily chart, PLTR dropped sharply since it retested the resistance at $ 27.47. This movement was extremely technical, as PLTR hit the resistance, did a bearish engulfing, and now it is seeking supports again.
But remember: The trend is still bullish . We have higher highs/lows, and the 21 ema is going up. We are slightly under the 21 ema now, but that’s ok. PLTR went up a lot since May’s bottom.
The weekly chart gives us another clue about PLTR. It is dropping sharply this week (-8%), but the volume is extremely low, indicating that this is not a true sell-off, but only people not interested in trading PLTR at $ 27, so the price must drop a little bit more to get more interesting.
This bearish candlestick came after a series of seven white candlesticks in a row, so, this was already expected , and there was no better top candidate than the resistance at $ 27.47.
As this is just a pullback, in my view, I see no reason to panic, and I still see PLTR filling the gap at $ 31.34.
I hope my insights helped you, and if that’s the case, remember to follow me to keep in touch with my studies, and support this idea if you liked it !
Thank you very much, have a good weekend!
WM Flag BreakoutNYSE:WM had a beautiful gap up today which broke out of the months long flag pattern. It looks very healthy and I expect it to continue up to all new highs.
PLUG buy opportunityPLUG had an major pullback, but it seems the regression trend is over and the long trend already started strong.
The fundamentals are stable and the risk/reward looks pretty good for a long position.
Lets fill the gap!
$MMX, making a move to close the gapThe gap low is 5.64, that is what we are shooting for. With the stoch crossing up below the oversold line, the candle closing above the EMA 9 and the RSI looking to bounce off support, the correct seems to have begun. Putting a take profit at 5.62 and a stop loss at 5.10
TSLA: What to expect next?Hello traders and investors! Let’s see how Tesla is doing today!
First, since we hit our first target at it, Tesla has been inside a Triangle pattern in the 1h chart. Triangles are usually continuation patterns, but this is not a rule. A breakout from any of these purple lines will dictate the next movement.
If Tesla breaks the Triangle downwards, the target in the 1h chart is the gap at $ 657.20 (yellow square / green line). The volume has been quite low recently, and this is something to pay attention to.
An upwards breakout would make Tesla hit the next resistances in the daily chart.
The next target is the $ 714.89, which is a secondary resistance. We also have an open gap at $ 733, which might be filled too, given Tesla will keep trending like this.
Let’s keep in mind that the 21 ema is also another support level for TSLA, and it would require a true reversal sign to lose this support. So far, Tesla is just doing a sideways correction, a normal movement. I think it would be good if it drops to the 21 ema again, but who knows.
Either way, I see the gap at $ 733 as a nice target. 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!
Thank you very much!
As another request, I'll analyze GTT!As requested by @Binuthi, I’ll take a look at GTT today!
I see it dropping to close the gap at 2.53, then it might do a good movement. The RSI is oversold, but it can get more.
In the 4h chart, GTT can hit the 20ma again, hen we’ll see what’s the deal. If it loses this point, the $ 2 is the next stop. But any good bullish pattern around this support zone can make GTT fly again to the 3.30, or even higher.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
As another request, will look at NFLX! 👍As my follower @KingArthur904 requested, here are my insights about NFLX!
Well, we have an amazing bull trend here! What’s more, there’s nothing telling me that NFLX will go down. We have not a single bearish pattern here. I see NFLX at 546.45, and I’ll explain why soon.
But is there something that could make it correct? Yes. If NFLX loses the 525.12 I see it at the gap at 518.56.
Another possible danger is in the 4h chart. We are outside the Bollinger Bands, and the RSI is clearly overbought. This indicates euphoria, and usually, what follows euphoria is pullbacks.
If the bulls are strong enough, we’ll stop at 518, but we should be prepared for a possible pullback to the 511. Especially if the Nasdaq and other faangs drop as well. I don’t see NFLX reversing and becoming bearish, though, but I expect a pullback – despite the lack of confirmation. This could give us a buy chance, in my view, but it must do something good near the support level first!
Let’s just focus on the points mentioned in the 30min, as they will be our main guide for now.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
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Melissa.
TSLA: Reading the volume might be a life-saver sometimes!Hello traders and investors! As we expected, Tesla did an upwards breakout from its Triangle pattern ! Now it is just heading to our target!
There are several reasons why I though we were about to see an upwards breakout, even considering that Triangles are continuation patterns, and this means that it should’ve done a downwards breakout to the $ 538 . If you missed my previous analysis about it, the link to it is below this analysis, if you are curious.
First, let’s see the 1h chart. It did defeat the $ 635, indicating a reversal pattern in the short-term. I told you that while Tesla was trapped inside this congestion, nothing interesting would happen.
The daily chart offer us more clues. One of the things that made me more bullish than bearish was the volume . In the past 15 days, the bullish candlesticks had a higher volume than the bearish days. This is a sign of buy force, which increases the odds of an upwards breakout.
Second, Tesla was already near its support at $ 538 (green line), making the R/R ratio not attractive for the sellers at all . Also, the 21 ema was flat for too long, and although this is just a detail, it is another thing that was indicating that the bears were exhausted.
Now I see some targets. The last one that I see is the gap around $ 733, but we have the $ 714 and the $ 689, which was already hit today ! The volume is increasing, and I see no pullback/reversal signs around.
Now, the 21 ema and the $ 635 are supposed to work as supports, if we see a bearish pattern around.
If you liked this analysis, remember to follow me to keep in touch with my updates on TSLA and other stocks!
Thank you very much!
PLTR: You know how to deal with gaps, right?Hello traders and investors! Let’s update our thoughts on PLTR today!
First, it defeated the $ 25.23 area we talked about last week, but only after it retested the purple trendline one more time. Now PLTR is defeating its resistances, a nd there’re no pullback/reversal signs around.
The 21 ema is pointing up, and it is another support level that could hold PLTR in case of a pullback.
Let’s look for more clues in the daily chart:
We have a secondary resistance at $ 27.41, but since PLTR has been defeating all its resistances, I see no reason to be concerned about this black line.
I still see the gap at $ 31.34 (yellow square) as a target for us. Remember, gaps work as magnets for the price . So far, we are making about 30% on PLTR, and if it fills the gap, we’ll do more than 50%.
Another trade we did using a gap as a guide was on PINS, which filled its gap today, and we bought when it did a bullish engulfing in the weekly chart. I didn’t write a free analysis about it, though, I’m just telling this for educational purposes , to show you how to use gaps in your favor.
This tells me that PLTR can hit our target, we just need to be patient.
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Thank you very much!
NIO: The most important Key Points for us!Hello traders and investors! Let’s see how NIO is doing today!
First, it is worth noting that it is in a short-term bear trend , because we do have lower highs/lows in the 1h chart. It also defeated the purple trendline, indicating some weakness.
Now, NIO found a support around the $ 43.78 and it is bouncing back up. There’s some light in the end of this tunnel, because it looks like we have a Flag pattern. The pattern wasn’t triggered yet, but this can stop this short-term bear trend. Also, if it defeats the $ 46 again, it'll be a very good sign.
It is not the best movement ever, but it is a start. Now, the daily chart has some interesting stuff to tell us:
This short-term bear trend in the 1h chart might be just a harmless pullback in the daily chart, to its 21 ema. It is doing a good reaction today, but it still might retest the 21 ema in the next few days.
The $ 43.13 is a nice support level , as it was a previous resistance, and now the 21 ema is also quite near this price level too. This seems to be a great support level for NIO, if it corrects, and it could even give us a buy sign – if the right pattern appears.
The volume is just fine, but I would be happy if NIO does a sideways correction between the two black lines. All of this doesn’t change the main bullish bias we have in the mid-term, and the target at the $ 50.40. We already filled the gap, which some people found absolutely crazy, and maybe we’ll nail another target.
Let’s just be aware of this support level in the daily chart around $ 43.13.
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NDX: When will we see some opportunities around?Hello traders and investors! Let’s see how the NDX is doing today!
First, it filled the gap 14,160, and it defeated the green line at 14,149, triggering a pivot point . This made the stock fly again, and break new records.
The trend is clearly bullish, and we have no pullback/weakness signs around. If it corrects to the 21 ema, we shouldn’t be surprised. There’s the purple trendline that could also offer a support in case of a pullback, but it’ll probably take some time to hit it again.
In the daily chart we see a good movement, and we don’t see any bearish candlestick pattern around here as well, at least not right now. We must see how the index will close today.
Either way, we have a nice rotation back to the tech stocks, as the market realized they are not that bad at all, and I like to say to my followers: There are tech stocks, and there are good tech stocks.
If you know which ones to pick, it is possible to find some nice opportunities here in the tech field. For instance, I’m buying one stock for my personal portfolio today: A tech stock; small cap with good volume; doing a bullish pattern near a support level; amazing financial health and it is a debt-free company. Sounds great. We still can find stocks like this around, regardless of the market’s movements.
I see that a correction on the NDX could give us even more opportunities to buy solid companies at a cheaper price. Let’s be aware of the support levels mentioned and we’ll be fine. But keep in mind: We still have no bearish reversal patterns yet, so, let’s wait for confirmation , ok?
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Spy StraddleI kind've want to buy a straddle here but it's too late. Was working all day today. Although calls made some money :). I expect a gap up and then down for the day tommorow. Just a gut feeling. By the way that triangle is in afterhours.
Feedback appreciated!
Let's watch MSTR! High risk - high reward! 👀MSTR just went down to close a gap, and now it looks like it wants to react. In fact, now is a good time for a bullish reversal, as we are near support levels.
The problem is the 20ma, but the 4h chart looks interesting:
We hit a support level, and now we have a hammer candlestick trying to reverse the trend. The RSI was overbought, but after today’s drop, it is back to normal.
I wouldn’t say it is a buy right now, but we must keep our eyes open. In the daily chart we are just above the 20ma:
If MSTR breaks the 560 again, it can go up for the 650 next. But if it loses the 513, then it’ll keep pushing down to the 420! . Let’s wait for a confirmation here on MSTR! Also, with the proper risk management, everything is possible ;)
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
BNGO - GAP FILL DONE"There are currently no clear chart signals.
On the one hand, we have the gap at 6.87. On the other hand, we have solid support at 7.50.
The following applies:
I would like to fill the gap. But that is not a must have. However, if we don't fill it, it acts like a magnet. A break below 7.50 would give an initial signal that the market would fill the gap. We have to close above 8.20 and build strength there. Then the probability of the gap fill scenario decreases."
A few weeks ago I mentioned that the probability for a gap fill is high. AND HERE WE GO!
Targets above:
$ 9.00
$ 10.46
--> ATH $ 15.66- 20$
PLUG: Several bullish patterns around!Hello traders and investors! Let’s see how PLUG is doing today!
First, we had a Double Bottom triggered in the 1h chart, and the key point was the $ 30.40 – remember this point. What’s more, it did defeat this key point by doing a Breakaway Gap.
Now, the technical target is the $ 34.35, but since PLUG is quite far from its 21 ema, pullbacks are expected, but not required. If it drops again to its 21 ema, it would be an opportunity to buy.
Now, the daily chart:
Remember the $ 30.40? The market seems to remember this price level quite well, and it has been working as support/resistance since December last year.
Today’s volume is very good, and this might be an Ignition Bar. Although the short-term target is the $ 34.35, the daily chart suggests it could hit the $ 37.75, or even the $ 48.35 next. The gap (yellow square) can help to attract the price to higher levels.
Let’s see if this will be an Ignition Bar or not. Either way, remember to follow me to keep in touch with my daily updates, and please, support this idea if it helped you!
Thank you very much!
NIO: Watch out for this dual-support level!Hello traders and investors! Let’s see how NIO is behaving today!
First, in the 1h chart, we have a dual-support level made by the purple trendline and the previous bottom at $ 45.07 (green line).
Since NIO is in a bull trend, the odds are that it’ll keep pushing up, and do new higher highs/lows. NIO hit all our targets recently, and now we have another one exactly at $ 50.40.
Now, we must be aware of this dual-support level, because if NIO loses it, then a pullback in the daily chart will be triggered.
A pullback in the daily chart would mean that NIO will seek its 21 ema next, around the $ 43 (our first target).
This scenario will materialize only if NIO loses its dual-support level, and maybe it’ll give another chance to buy at $ 43, but we can’t count too much on this.
I still see NIO at $ 50.40, although we might have some bumps along the way. Either way, let’s be careful, and if this analysis helped you, remember to follow me to keep in touch with my daily studies!
Thank you very much!
SFIX - (up) Trend to continue after gap fillSFIX gapped down strongly on 8 March after earnings, leaving a lot of suffering bulls who had betted on the wrong side of this earning. The stock finally hit a low on 11 May and began it's recovery, cummulating to a strong gap up on 7 June, this time on earnings exceeding expectations.
However this gap up was right where the prior gap (down) got filled. Those long suffering bulls who had previously betted on the wrong side of earnings saw it as their chance to exit at breakeven or smaller losses. This pushed the stock back down until the most recent gap (up) got filled @ 57.94 (support).
Having establised a support at 57.94, it's now safe to bet on it's uptrend continuation with initial stop loss several ticks below this support. Short term traders can consider to scale out at the 100% and 161.8% extension levels.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
