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Equities - Own What is Working! Pt. 2Check out my blog post for the full breakdown: derzzycharts.com/blog-1/equities-own-what-is-working Here we have XBI, GDX, and QQQ. The gains have been amazing already, so now we have to practice some patience. Honestly I am waiting for a pullback on some of these sectors before I buy them. Why? GDX looks the most promising, as it is the only one that doesn’t have a bearish divergence on the RSI. Remember bearish divergences are for taking profit, not for entering positions. Let’s have a look at XBI: Equities - Own What is Working! Pt. 3 Happy Trading! Brandon Anderson brandon@derzzycharts.com @derzzycharts www.derzzycharts.com
NASDAQ:QQQ
by derzzycharts
GDX MNT: V-shape recovery / 70% upside BUY/HOLD(STOCKS)Why get subbed to to me on Tradingview? -TOP author on TradingView -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -24/7 uptime so constant updates GDX MNT: V-shape recovery / 70% upside BUY/HOLD(STOCKS) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. 🔸 Summary and potential trade setup ::: GDX monthly chart review and outlook ::: chart looks strong right now ::: gold clearly in bull market now ::: miners benefiting from rise in prices ::: V-shape recovery in pgogress ::: 40% through already however ::: 70% upside remains from here ::: recommended strategy: BUY/HOLD at market ::: TP +70% gains ::: setup for patient traders only ::: do not expect fast/overnight gains now ::: good luck traders 🔸 Supply/Demand Zones ::: supply/demand: N/A 🔸 Other noteworthy technicals/fundies ::: TD9/Combo update: N/A ::: Sentiment short-term: BULLS ::: Sentiment outlook mid-term: BULLS
AMEX:GDXLong
by ProjectSyndicate
1
💛GDX shows bearish divergence - good idea to take some profit?GDX like gold is looking to break out to the moon, but is that party going to be put on hold for now? Both Gold and the GDX are showing some bearish divergence (shown in chart), they are moving higher in price on lower momentum. In fact most indexes are showing this, not just the gold market. We are going to need a lot of rocket fuel to get to $47 for GDX and $1900+ for gold, so I'd like to see more momentum not less/. TSLA is up 36% in the last 5 days with many tech stocks up 10%+, if momentum runs out of steam for these tech stocks, it mqy impact on the entire market, resulting in one last shake out in the GDX before going higher. I would not short here but it's a great time to take some profits, most of the ideas for the GDX is to buy, another signal to me that a shake out in July/August may be on the cards. I'll be adding to the GDX for longs if we hit the $32-$28 area for sure.
AMEX:GDXShort
by BangkokCharts