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Gapfill

S&P 500: Chance of a Hyper Bull MarketQuote: Investors just pumped the most money ever into stock funds for a single week; U.S. stock-focused funds took in $38.3 billion in fresh cash over the past week, a new record, according to "Bank of America Merrill Lynch". Source: CNBC www.cnbc.com Quote: Widely-followed JP Morgan analyst says new market highs are coming soon. J.P. Morgan's Marko Kolanovic says the bearish narratives of inflation and trade wars will be proven wrong. "The flow aspect of the sell-off had a striking similarity with the August 2015 sell-off: realized volatility caused derisking from volatility targeting strategies and forced covering of short volatility positions," he wrote. "Unless there is a recession, all of these flows tend to reverse within 1-2 months." He is regarded as an expert in volatility and derivatives. Source: CNBC www.cnbc.com Long condition: The "S&P 500" closes Friday above 2751. Entry on Monday. Entry: 2755 Stop loss: 2729 Target: 3012 Risk/Reward: 10
SP:SPXLong
by ChartArt
Bearish Gap Fill Pending For First SolarFirst Solar has been in a clearly defined downward trend since between May and August of 2016. As of the close on May 12, this stock is at the top of the cycle which is near a strongly established resistance. The projected future movements are highlighted below. When we take a look at other technical indicators, the relative strength index (RSI) is at 81.4842. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. Currently the RSI is well overbought and due to retreat. The true strength index (TSI) is currently 21.9577. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock has been moving up. The positive vortex indicator (VI) is at 1.3173 and the negative is at 0.6377. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. Currently the positive indicator had been moving up, but may be in the early stages of its downward reversal. Projected future movement has been drawn in the VI window. The stochastic oscillator K value is 93.9795 and D value is 90.7662. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The stochastic is currently in overbought territory. This indicator will drop, the question is will the stock drop with it or slowly begin to swing up and down? The stock recently gapped up after earnings. Gaps are typically filled, but the time in which this is done varies. Even though a closing of the gap may happen, simple movement to the bottom of the gap is much more likely and it is a staggering 11% drop from the May 12th closing price. Considering the RSI, TSI, VI and stochastic levels, the overall direction favors a move to the downside, although definitive downward movement may take a few more days to develop. Based on historical movement compared to current levels and the current position, the stock could drop at least 10% over the next 30 trading days if not sooner. More analysis at LimitLessLifeSkills!
NASDAQ:FSLRShort
by StockSignaler
American Express Looking For Bearish Gap FillOn May 3, 2017, American Express Company crossed below its 50 day moving average (DMA). Historically this has occurred 406 times and the stock does not always drop. The median drop is 4.538% and maximum drop is 45.566% over the next 20 trading days. When we take a look at other technical indicators, the relative strength index (RSI) is at 50.4969. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock has been slightly volatile. It is currently trending down since the recent post-earnings gap up. The stock can continue to go down with less volatile price swings. The true strength index (TSI) is currently 2.3520. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock was trending down, but has recently turned upward. This indicator is typically delayed so the bend upward is not always indicative of further upward movement. The positive vortex indicator (VI) is at 0.9408 and the negative is at 0.8340. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock has been neutral since the post-earnings gap up. With both indicators below 1, anything can happen. The stochastic oscillator K value is 57.5145 and D value is 69.9118. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The current reading declares the stock exited overbought territory and should continue to decline. Considering the moving average crossover, RSI, TSI, VI and stochastic levels, the overall direction appears to be pointing down. Based on historical movement compared to current levels and the current position, the stock could drop at least 2.70% over the next 20 trading days.
NYSE:AXPShort
by StockSignaler
Double Top at Structure on EURGBP! May fill the gap?Hey guys, the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance. As we go on lower timeframe such as 1hr price has formed a nice double top with RSI divergence. I'm waiting to see a pullback in order to get a better risk to reward ratio with the first target at the retest of the lows. Second target could go at the close of the gap, or at structure (0,840). If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
3
Double Top at Structure! May fill the gap?Hey guys, the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance. As we go on lower timeframe such as 1hr price has formed a nice double top with RSI divergence. I'm waiting to see a pullback in order to get a better risk to reward ratio with the first target at the retest of the lows. Second target could go at the close of the gap, or at structure (0,840). If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2