Paramount (PARA) Flirting with Historical Support, Time to Buy?Hi Guys. As usual always on the lookout for Macro trend setups, signs and opportunities. PARA seems to be in a position of low risk trade setup.
We have made it to a Historical Support level, where interactions here normally leads to bounces upward.
Please note however that previous history does not mean it is 100% probable that it will repeat.
HOwever, being in a downtrend for some time now. It is likely that there maybe DEMAND in this area. Its important to watch for signs of confirmation of Support.
This weeks candle may show signs. It is a Hammer candle printing at the bottom of a downtrend since January. Lower wick indicates buy pressure or demand.
Notice ABOVE we have a resistance trendline. Note if we bounce from here, that will be our area to watch. This resistance trendline has been dragging us down since April 2022.
We could also be attempting to form a double bottom.
Recently there is also an uptick in VOLUME, which can indicate support of the demand currently seen at this support lvl.
Ive added 2 indicators.
MACD shows that we have not reached ABOVE the 0 lvl in quite sometime. Hinting to the idea that eventually we will.
Notice also the presence of Bullish Divergence with MACD and price action.
Watch for the change in color of the histobars to light red. This will suppport the idea of waning bearish momentum. The presence of a bullish cross is also vital to watch for.
Now notice RSI. Our current RSI as indicated by orange circle, shows flattening of the RSI. This shows buying is stalling the sell off.
However, notice the rectangles highlighting previous flattening of RSI. There is a possibility of RSI continuing downward. An important sign for the RSI in my opinion would be if RSI can move above the resistance trendline. This thinking ahead, can coincide with breaking the Major resistance in price action.
Regardless of what happens, right now we are in a critical area and pushes for observation.
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Stay tuned for more updates on PARA in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Macdbullishdivergence
Can NFLX rebound from the down turn after earnings?NFLX started a good trend up about June 25 and then pulled back in the day after the
earnings report. Although the earnings beat expectations, price continued to drop in
a VWAP breakdown shown here on a 2 hr chart. Over the 2 days that followed, price
has continued down at a slower rate and candle ranges are diminished. Importantly,
the zero=lag MACD shows a line cross under the histogram which has changed from
red /negative to green/positive. The lines have inflected upward. I see this as demonstrative
of bullish divergence and predictive of a reversal.
Overall, I see NFLX rebounding with a potential 15% upside. My target is 480 in consideration
of the swing high on July 18th with a stop loss of 415 the swing low of late June.
Tellurian: Weekly Bullish Engulfing Falling Wedge BreakoutTELL is currently breaking out of a Falling Wedge after confirming a Double Divergence in the MACD at the 0.886 and also Bullishly Diverging the previous week's candle. A break of the $1.55 level could quickly take it back to $6.5, as that will likely also align with the RSI entering back into the Bullish Control Zone.
Remark Holdings: Monthly Logscale ABCD with Bullish DivergenceRemark Holdings is sitting at a Logscale 1.618 Fibonacci Extension and an AB=CD PCZ while showing a big amount of MACD Bullish Divergence on the Monthly Timeframe and it would seem it's eventual Bullish Target would be a minimum of HKEX:151 to go back to C.
Ericsson: Bullish Bat with MACD Bullish DivergenceWe have a Bullish Bat Visible on the Weekly and Monthly with Weekly MACD Bullish Divergence near the bottom of a Decades Long Range. If we bounce from here to the range top a Partial-Decline will be Confirmed that could likely result in a Breakout to $28.
Ericsson also has a great P/E Ratio to back it up and as a result i have gotten the Jan 19 (413d) 8 C call options that are currently trading at well below a dollar.
BBGI | Wave Projection | Upcoming Inverse Head & ShouldersPrice action and chart pattern trading setup:
> Possible upcoming ending diagonal of intermediate 5-wave downtrend with inverse head & shoulders
> Entry @ breakout neckline
> Target @ approximately the height of the head 9 baht
> Stoploss @ upcoming right shoulder minor 5-wave
> Risk reward ratio: 2:1 with downside -6%
Indicator:
> RSI +50 cross MA and MACD bullish divergence
Always trade with affordable risk and respect your stoploss
MU saw some people on Bezinga Stream floundering on this..This shows MACD Bullish Divergence and thats to $92. My path shows to $120-128. Chart looks really. Good. I used the Cloud this time to find the same move in the past. As i think its more reliable when you can find price action dip into the cloud the same way and with the same kind of candles that have been painted. I customized this Cloud way out of wack from the standard I dont know what possessed me to use the settings I have but It has been very reliable.
by iCantw84it
07.30.2021
ORG - Bullish Trade PlanORG has bounced off strongly off Support with very High Volume, confirming its Bullish reversal. I expect a little correction to the downside as it looks like it is currently facing some resistance. There is also MACD Bullish Divergence on the Daily Timeframe and I expect a small correction or maybe a backtest of support near $4.20 - $4.35 zone which could give a fantastic opportunity to get long with a target towards TP1 - $5.30 and TP2 - $6.00.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
AGL - Trade PlanAGL looks like it has broken out of its long term downtrend and is expected to head higher. The break of the Bearish trendline coupled with High Volume and huge MACD Bullish Divergence confirms that it is expected to move higher. I am bullish AGL with a target of $10.70 and it may even go much higher towards the strong Resistance level of $12.00.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
MFG - Is it a brekout?MFG has managed to close above the Bearish Trendline (Wedge) with very high volume volume. The bounce is expected to continue towards its Resistance which should be the take profit zone now. There is Bullish Divergence on MACD suggesting that the Bearish Momentum has finished and the Bulls have taken control. My trade plan is given below:
TP1 - 54.7 (Potential gain 15%)
Stoploss - $41.5
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
MND - Another Buying Opportunity?MND may be poised to move up aiming its previous resistance. A breakout of the bearish trendline (Wedge) combined with bullish price action off from the POC of Volume Profile makes me bullish. Another evidence is the MACD cross with Bullish Divergence which tells us that the Bearish Momentum has exhausted as price was going down and MND is ready for an upswing. My trade plan is as follows:
TP1 - $12.40 (Potential gain 10%)
TP2 - $13.30 (Potential gain 20%)
Stoploss - $9.90
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
BAT will fly like a Bird !! LONG BATUSDHi Beautiful peopleeee on the weekend!!
Looking at the Daily BATUSD chart, you can see BAT did break big red trend line to go upward. It came with strong bullish divergence on MACD and RSI as well as the price currently stay on top of 21 daily EMA which is bullish sign.
From these reasons, I see a opportunity here to go long with a tight stop loss around $0.2-$0.198 as well as my sensible first target is $0.28 and the second target is $0.36. If you like this idea, pls click thumb up to support me more and more!! Have a nice weekend : )
***** THIS INFORMATION IS MY IDEA AND IS NOT RECOMMENDATION TO BUY OR SELL. IT IS TO BE USED FOR EDUCATIONAL PURPOSES ONLY. ******
IOTA could be potentially ready for a REVERSAL (Part 3)My series on IOTABTC continue here. As predicted in Part 2 (scrolling down the post) after the upside move driven up by Bitcoin yesterday, IOTA move downside aprroaching the Kijun-sen of the Ichimoku Cloud at around 0.00014880;
If IOTA on the 4H chart found support on that yellow line, it can go sideways for a couple of days and then move to the next resistance level at 0.00017000.
All depend on Bitcoin in the next days; If BTC wiil crash, all the other alt coins will follow. Simple.
P.S.: Sorry guys, I have forgot to tell you in previous charts that I'm using the Log scale.
For the Ichimoku Cloud:
set the periods on 20-60-120-30 and you will have a smooth and less confused cloud on chart (follow @crypto_rand on Twitter & @CarpeNoctom on both Twitter and Youtube - the last on his YouTube Channel shows very well how to use the Ichimoku Cloud and other indicators - He has been very useful at least for me).
LINKS:
twitter.com
twitter.com
www.youtube.com