Gapfill
Netflix bulls coming back?With QQQ strong as they are, netflix gap fill possibility is looking more plausible everyday
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! :)
Bullish- long playENPH has gotten relatively beaten down and taken a much-needed pullback. However, has held up fairly well amidst all of the intraday volatility in the markets and is now is back above its 200day SMA where it has previously found support. Needs to hold above the 200day SMA. Additionally, does look like a fishhook pattern forming, and am looking for ENPH to fill the gap circa 153-167. Bullish
PT1- $152.99
PT2- $169.10
No Man's Land For NowGOED hanging out in no man's land. I like the climb it's had so far but big question mark as to whether or not it can break through the upper limit on this gap. Open to some thoughts but found this to be interesting:
"During the pandemic, home improvement has increased dramatically with more people having the time to spend on it. This helped 1847 Goedeker perform well since the beginning of Covid. The company also sells fitness equipment, which again, was and is a major market due to the pandemic. June 16th, Goedeker announced its Q2 2021 results which could be the reason behind its over 5% gain today. The company’s revenue broke a record, moving up 41.9% year over year."
Quote Source: 4 Penny Stocks to Watch Following the Fed Meeting and Powell’s Remarks
CSIQ Daily SetupCSIQ entry setup above today's high. The 50 EMA has come down to the 200 EMA and looks ready to turn back up. A long trend line was broken 3 days ago after a nice rounded base and the gap down has finally been filled.
EVFM - Trend reversal (up)!EVFM was in a significant downtrend that saw it plunge from a high of 5.50 on 17 Feb to a final capitulation low of 0.74 on 18 May.
Since then it had consolidated between 0.75 to 0.92 for several weeks until 7 June when we see a GAP UP from 0.87 to 0.99 on significant volume .
This 1st gap in the opposite direction to the prior downtrend is likely the start of a new (up) trend, ie, a "breakaway gap".
I went Long @ 1.00 with initial stop @ 0.85. There are prior resistences on the way up and it we have to manage this trade accordingly. Profit targets are suggested where we are likely to hit into some resistences.
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! :)
SHAK -on firmer ground to recoveryAfter hitting a low of 78 in a few weeks ago, SHAK finally gapped up on strong volume on 25 May, suggesting that the downward pressure might be over. Over the last 2 weeks it began to form a bull flag cummulating to a strong break out of this bull flag yesterday. These adds credibility that the trend has now reversed to the upside.
I am expecting a near term target of at least 104-105 (gap fill and a previous support turned resistence). Should it be able to clear this level, then 115 becomes a possibility. Trail your stops upwards accordingly.
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! :)
oct 200P idealower highs across macd. Not a very big fan of using head and shoulders, but its obviously being made. Not a financial advisor, so invest at your own risk.
Will Twitter Fill the Gap?It hasn’t always been a smooth ride, but Twitter has chopped higher since the fourth quarter. Now it may be poised for continuation to the upside.
The bulls started logging on to the social-media stock in February as enhancements like direct-response (DR) advertising and mobile application promotion (MAP) drove engagement. The earnings have been mixed, especially with slow user growth. However the underlying trend of increased monetization remains the key driver.
TWTR crashed on April 30 following inline quarterly results. It then held the 200-day simple moving average (SMA). It also stabilized at a long-term support line around $53.50, which dates back to an old high from April 2015.
Next, the 8-day exponential moving average (EMA) just crossed above the 21-day EMA. MACD has also been climbing. Both of those suggest shorter-term momentum is turning bullish.
Finally, you have the gap from April 30. TWTR closed on Friday at its highest level since the drop. Given how long it’s stabilized, traders may look for the stock to run higher and fill that gap.
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TWTR rdy to fill her upThe cup/handle pattern was finally completed on Thursday when it tapped the Dec high of 56 and came back up to form a long legged doji. If the market was up on Thursday, the candle would have engulfed three days of price action. Friday confirmed what it wanted to do on Thursday. If TWTR breaks above 60 this coming week, the gap up to 64 will be filled. With the Qs and SMH ready to break out once again, I don't see it having a hard time breaking 60.
Gap FillEarnings gapped the stock up and it turned right back around quickly. My portfolio is filled almost exclusively with long and neutral positions so it was nice to find a good short position to add but the problem is that I have already allocated all of my funds in other positions. With a small account I take a few extra risk to increase it more rapidly; one of these risks is that I allocate almost 100% of my account balance to active trades. If the markets decide to blow up my account then I am very vulnerable. I try to mitigate this risk by having a somewhat diverse array of long, short and neutral position on at all times but I haven't seen any short position that I really liked so this is a nice find for that reason.
This is just a 1 dollar gap so I wouldn't gain much from my typical deep in the money debit spread unless I thought it was going to fall much lower than my bottom trendline. So the way that I am going to set this trade up is to set up a in the money credit spread. If if it falls through the bottom trend line I make make profit, if it falls between the two lines I make money as long as its above my break even point, but the risk here is that if it doesn't drop in price enough to fall in the zone then all is lost; I'm good with that since I have defined my risk from the beginning of the trade with, in my opinion, is a kin to setting a stop loss in trades like this where the loss isn't much greater then the max profit.
FSLY growth name bottomed, breakout coming?Growth names are hard to predict right now but SNOW did start a nice reversal lately. Could others start to follow? Looking at June calls from 45-50 rang to try to catch this move. Some volume above this demand shelf could send it into this gap. Over 48 and it could explode. Being in now will allow some rolls to higher longer dated calls to catch that move with less risk.
Gap fill idea + Covid recovery Summer playSteady move brewing @ $EEX over 5.65 could see a push towards a breakout at 6.50 looking to fill the gap at 10+
High institutional ownership at 97% but very poor revenue last quarter 12.2M actual vs 85M expected however this company is no stranger to 100+ million quarterly revenue
From their last earnings call:
"To start, our first quarter results continued to be impacted by the COVID-19 pandemic, as we cancelled or postponed all our live events except for Surf Expo in Orlando in January."
"We expect a full resumption of our events calendar beginning this summer. We're planning for the busiest second half in Emerald’s history in terms of the number of events we're producing given the short postponements that have occurred. While the outlook for attendance at our shows remains uncertain, and could well be challenged in the near term, even for events we do stage with the lingering impacts of COVID we’re encouraged with the early success that we're seeing from other operators in Asia, where recovery seems further along, and we've seen several recent events, which have matched or exceeded pre-COVID levels."
Twitter Gap FillI'm watching Twitter this week, If it breaks 55.70, and confirms, then I want to enter a trade to ride the stock to 64.20.
The strategy I would use to do this is a diagonal spread that would be set up as follows:
Buy Aug20 45 Call ask:11.25
Sell Jun16 62.5 Call bid:1.00
mid: $10.10
This analysis is based on the prices over the weekend at the current price and will obviously change some as the stock moves into position but here is my reasoning. This long call is at the .81 delta and has 3 months till expiration so it will suffer very little theta decay. It has an extrinsic value of $1.76 which is offset by the $1.02 of the short call. There is no penalty for waiting which is the main drawback for buying options.
If the stock price breaches the short call early then simply sell the spread for a profit. If it happens close to expiration then the short call can be rolled out and up to collect more premium and widen your spread. If the price never gets to the short strike the reevaluate and decide whether to close the position or sell another call that could hopefully offset the remaining extrinsic value purchased in your long option. The later would mean that after two months your break even would be around 45 so I wouldn't exit the position unless the stock went so low that selling the covered call would create a spread tighter than the cost bases.
Twitter is generally trending upward so I think there is a high probability that at worst you hold the long option for 3 months and sell away all, or more than, the extrinsic value and could profit from the sell of the long call before expiration even with a small dip in the price.
10% Gap up over the weekend opportunity.Great scope off one of yesterday's biggest losers. Classic gap-up opportunity. Set sell orders at 75%
Weekly Gap fill could send us up 194%I'm expecting a bearish reversal in the IWM after a bearish breakdown out of a Diamond as seen in the screenshot below:
Set phasers to 'fill'.In the liquidity exuberance of early April did you notice that the SPY forgot to print a certain price range? I can't spot a more glaring gap in the dailies than that. With the 50ema coming back into play we might fill this gap at around $400. If it bounces without doing that, then maybe don't trust it.
All gaps must fill.
The deviation between the larger emas is huge. This of course hints at some pretty violent ranging.
After one of the most boring months in trading, there's finally some attempt at discovery (no doubt enfeebled). I expect a good fight around the 50s. Overall, for the past year buying the 50d has been a good strategy, but we should get a bit of a tussle this time rather than the intraday rebound from a couple of weeks ago.
Bring it on. I'm ready to get hurt again.
