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Linear-regression

SPY to $585?: EOY Price TargetUsing the Magic Linear Regression Channel on TradingView.com we look at some possible scenarios for SPY price movement. A shorter term regression channel shows SPY at the top of the channel and rejecting it today - even with more buyers than sellers in the TradingView Volume Footprint chart view. The bottom of the channel converges with last pivot low near $584. It could conceivable go lower, but with lower volume likely during the holiday season, it would seem less likely for it to make any more big moves barring some major unexpected event.
AMEX:SPYShort
by mwrightinc
7
TSLA to $420?TSLA has been on a tear over the past month or so. Using the Magic Linear Regression Channel indicator we look at the chart of TSLA and see that it has blown through a lot of the parallel channels, making it seem difficult to pinpoint. But, by adding an outer Fibonacci band to the Magic Linear Regression Channel, and selecting starting pivot highs followed by the biggest drops, we can form a channel that has an upper Fibonacci channel that coincides with the all-time high. However, since TSLA didn't get to Elon's favorite number, 420, last time around, I think it will make it there this time before correcting or consolidating. And, it could make it there before the end of the year.
NASDAQ:TSLALong
by mwrightinc
2
NVDA to $170K EOYWith the Magic Linear Regression Channel by @mwrightinc, we built a channel on the daily chart that shows that NVDA looks like it may be beginning a bounce from the channel baseline. Using the Multi-VWAP indicator by @mwrightinc, we can also see that today, NVDA reclaimed the 5 Day anchored volume weighted average price (AVWAP). We can also see that after we lose the bearish data from 5 days ago that we will have a rising 5-Day AVWAP, which, according to Brian Shannon of AlphaTrends, is a MUST before entering into any long positions. NVDA also reclaimed the 50 Day AVWAP. Another very bullish sign. With a second Magic Linear Regression Channel, or by just drawing a trendline from the pivot high close from June 18th, 2023, we can see that $135.58 was broken as support, but yesterday's large bottom wick and today's continued upward momentum suggest that the level may be reclaimed in the very near future. I see two potential scenarios playing out. A bullish one, where NVDA not only reclaims the 135.58 support, but heads back up to the top of the 1 1/2 year-old channel that has been respected at multiple levels. And, a bearish one, where NVDA continues to fall that is indicated by its recent break of a neckline from a double-top. I believe the bullish scenario is more likely, because NVDA has already had a big move down from its earnings, and it actually beat estimates all around. NVDA is a beast, and I'm guessing that it has the potential to reach $170 by the end of the year, if the bullish scenario plays out.
NASDAQ:NVDALong
by mwrightinc
4
Linear Regression Second Derivative and Breakout Signal ScriptsUsing Linear Regression of Second Derivative script, we can see that the momentum is down, but that down momentum is actually decreasing, as the downward histogram is making a higher low compared to prior histogram. Also, Breakout Signals script is showing yellow squares at the bottom. This means that the EMAs are stacked correctly, there is a compression(it’s getting ready for a move), the velocity is increasing(price is accelerating) and the DI+ is increasing and DI- is decreasing. All these factors, when combined, give us a high probability that the coin will go up(although nothing is guaranteed in trading which is why we are using stops to protect ourselves from losses) Our Target is the top of that Keltner Channel which has a length of 21, multiplier of 2.86 and ATR length of 14.
COINBASE:APTUSDLong
by ADmytrenko2
7
BTC bullish potential (30-33k) within the next weeksA careful examination of the 9-12D timeframes using the Ocean Channel indicates that BTC has established robust support around the 26-27k level, while DXY is showcasing bullish momentum but is fast approaching potential resistance around the 103-104 mark. The DXY has been exhibiting a bullish trend after the significant retracement. However, the index's rapid ascent is beginning to show signs of overextension in the short term, with the DXY encountering potential resistance in the 103-104 region. This fast-paced movement and the resistance level suggest that the DXY could witness a retracement soon, likely down toward the 102 mark. Given the robust support BTC has found around the 26-27k range, there is a reasonable expectation that it could witness an uptick in value over the next few weeks, potentially reaching the 30-33k range. This prediction is based on the inverse correlation between the DXY and BTC. However, while the forecast is generally optimistic for BTC, it is crucial to remember that this may not signal the beginning of a bullish run for the digital asset. This cautious outlook is due to the substantial resistance BTC faces in the higher timeframes. Furthermore, the DXY showcases significant support around the 100 level, adding another layer of complexity to the overall scenario. Disclaimer: This analysis is provided for educational purposes only and should not be considered financial advice. It represents an interpretation of the current market trends and does not guarantee future market movements. Always conduct your analysis and consult a financial advisor before making investment decisions. Trading and investing involve risks, including the potential loss of investment.
CAPITALCOM:DXYLong
by HedgeMode
Looks like there is more blood to come on Bay St Hay All Traders, I'm not a financial advisor, Don't buy or sell bass on what I'm saying... PLEASE DO YOUR OWN HOMEWORK. THIS POST IS JUST FOR INFO ONLY... I'm saying there is more blood to come on Bay St. Because of looking at the daily chart and putting on my version of the RSI. Since the 11th, it has been heading down very fast, and with my version of MACD, it's still looking like it's not slowing down for at least a couple of days. And using "Linear Regression," my look back is the last 100 days and 10 days, then 10 days is heading lower of the 100 days, and I'm using Linear Regression as support and resistance.
TSX:TSX
by ADHDing_