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AU Small Finance Bank - Technical Analysis Update and Key LevelsChart Overview: The price action for AU Small Finance Bank shows it has been moving within a rising channel for the past few years, currently testing key support levels. The bank recently saw a price downgrade from Nomura, which adjusted the target price to ₹670, retaining a neutral rating. This adjustment reflects some cautious sentiment among analysts. Key Levels and Fibonacci Retracement: Channel Support - The stock is currently near the lower boundary of the long-term rising channel, a crucial area where it previously found support. Fibonacci Levels - The stock has pulled back to the 61.8% Fibonacci retracement level around ₹565.65 from its recent highs, which often acts as a strong support level in technical setups. A further breakdown could push it towards the 50% retracement at ₹492.40, a potential next support. Resistance - On the upside, resistance lies around the upper channel boundary and recent highs near ₹670-₹700, which aligns with Nomura’s target. MACD Indicator: The MACD currently shows a weakening momentum on the weekly chart, hinting at possible bearish pressure. A recovery in MACD or a bullish crossover could indicate a return to upward momentum. RSI Analysis: The RSI is approaching the oversold region. A bounce from this area might signal potential for reversal if accompanied by strong buying volume. Conclusion: AU Small Finance Bank is at a critical support level within a broader uptrend channel. Holding above ₹565-₹570 could lead to a rebound towards the upper end of the channel, with ₹670-₹700 as potential targets. However, if the price fails to hold, watch for the ₹492 level for possible support. The current technical setup suggests caution, especially with Nomura's neutral outlook.
NSE:AUBANK
by AngshumanSaikia
BTC Short Trade Opportunity and SetupBYBIT:BTCUSDT.P / BYBIT:BTCUSDT / CRYPTO:BTCUSD Bitcoin/BTCUSD has recently hit the resistance level of a pattern that has generally held true since mid March 24 (4 preceding resistance and support confirmations). Furthermore, it has started a return downward move following on from a 3 day filter for confirmation of the resistance level (an example of how a 3/5 day filter is an important tool for crypto trading). Additionally: The RSI resistance level of 70 has been recently reached and the RSI is trending downwards - a usually statistically significant indicator The downward return move is supported by reasonable (although not enough on it's own) volume A 3 bar pattern (downward move, pause, further downward move for confirmation) A rate of change approaching and trending negative A MACD also approaching negative It's always important to assess the risk that might prove the thesis wrong. And they are: Today's candlestick pattern is close to a dragonfly, i.e. there might be a return upwards move imminent (although this is unlikely to constitute a beginning of a move beyond the previous high as an actual dragonfly candlestick is at the end of a downtrend) The MACD is trending down but has not actually turned negative yet, i.e. it is a bit early to say this indicator is stating a downward trend The ROC hasn't turned negative yet either (but is trending downwards for sure) This all leads to the following conclusion: For those with a high enough risk appetite (and usually crypto traders are those with the highest :-)) this is a good entry point for a short trade. Using the (admittedly early but still reasonable) trend for the past three days to determine the final take profit point of 45500 (blue arrow) by approx. 19 Nov 24, the following can be set as a guide for a trade: Entry: Now or latest tomorrow in case today's candlestick is an indicator of a minor move upwards SL: $70,500 TP1: $63,450 - based on the first potential moving average being a resistance (200 MA) TP2: $60,500 - based on the previous move's consistent (and twice confirmed) low TP3: $54,500 -based on a previous historic low (i.e. psychologically important price point) which also acts as a confirmation of support to a previous move TP4: $45,500 - The approximate price point of an estimated downward trend Exit date (independent of TP level): 19 Nov 24 NOTE: the 19 Nov date here is important. It is the forecasted date by which the current downward price trend would linearly reach the support level. This date would be used as a checkpoint to exit the entire trade to safeguard against the normal, usually dramatic and beyond rational calculation price gyrations of crypto.
Short
by slip_stream
Titan Company Ltd. Technical AnalysisTitan has been trading within a consolidation phase recently, suggesting that buyers and sellers are in balance. Let’s look deeper at the technical levels and indicators that might guide us in the coming sessions: 1. Support and Resistance Zones: Key Resistance Levels: The immediate resistance sits around ₹3,452.50 and further up at ₹3,557.05. These levels could act as barriers if the stock attempts a breakout from current levels. Key Support Levels: Titan has notable support at ₹3,233.95. A drop below this could signal further downside pressure. 2. Trendline Analysis: A descending trendline has been in place, connecting recent lower highs. If Titan breaks above this trendline with sustained volume, it could indicate a potential bullish reversal. Meanwhile, a smaller, rising support line (forming a wedge pattern) offers a bullish signal if the price manages to hold above it in the short term. 3. MACD Indicator: The MACD is currently in negative territory, indicating that the stock is under some bearish momentum. However, if we see a crossover above the signal line soon, it could hint at a possible bullish shift. 3. Volume Insights: Volume has remained relatively stable, showing no major spikes that would suggest a strong trend continuation or reversal. A rise in volume, especially near support or resistance levels, may validate any potential breakout or breakdown. Conclusion: Titan appears to be in a consolidation phase, with the possibility of a breakout in either direction. Traders might look for confirmation at key levels, such as a break above the ₹3,452.50 resistance for bullish momentum or a fall below ₹3,233.95 support for bearish sentiment. Monitoring the MACD signal line crossover and volume trends will be crucial to anticipate the next movement.
NSE:TITANLong
by AngshumanSaikia
2
US's Resilient Economy Attracts European InvestorsHello! Chart Explanation & Indicators EURUSD has been bearish since the weak higher high on 25 September. You find this level in the upper zone. When MACD crossed to the bearish side on 30 September, EUR started a spectacular crash into the bottom zone. EUR pierced the bottom zone and now sits on the trendline. Historically, EUR rallied from this trendline on 27 June and 02 August, as the red circles demonstrate. Rising trendlines, however, tend to break downward eventually. MACD has an active bearish cross and a definite bearish trend. Momentum is growing more hefty to the bearish side. Bears could target the white zone at $1.088 or lower. Technical Zones There are two horizontal, red rectangular zones on the chart. The upper zone and the bottom zone . The bottom zone contained support levels where the EUR could bounce on 16 August and 12 September and hit the resistances of the upper zone. However, the EUR lost the support zone. The bottom zone might have become another resistance. The price sits on a rising, red support trendline now. The next zone that might function as a support is around $1.088. Conclusion The setup suggests a short position. The price resting on a supportive trendline casts a shadow on the suggestion. The signal might be bearish, but the entry doesn't seem ideal. I'll wait for the setup to change for a new assessment or the price action to align with the setup to catch a neat entry. Thankfully to all followers, Ely
Short
by Elysian_Mind
Bitcoin Weekly MACD Cross: Bullish Momentum BuildingBTCUSDT technical analysis update. In the weekly Bitcoin chart above, we can see that the price has been consolidating after a strong bullish rally. The key point to note here is the potential MACD crossover, which could signify a shift in momentum. The blue MACD line is approaching the red signal line from below, indicating that a bullish crossover might be imminent. This could suggest that the bearish phase is weakening and that Bitcoin is preparing for an upward move. The histogram has been decreasing in negative territory, which typically points to diminishing bearish momentum. A shift to positive values could confirm a trend reversal. The price is currently trading near key resistance levels, and if the MACD crossover happens, we could expect Bitcoin to break through these resistance zones, possibly leading to a significant upward move. Wee should closely monitor the MACD for confirmation of the crossover on the weekly chart, as this signal has historically been a strong indicator for trend reversals in Bitcoin. If the crossover happens, it could lead to a sustained bullish move. Regards Hexa
CRYPTO:BTCUSDLong
by HexaTrades
HSI significant pull back! FX:HKG33 Look at 1H chart movement together with the MACD & KDJ indicator, the histogram for MACD line & signal line is getting weaker (you can see both indicators curve seems lower than the previous wave). We should monitor. marked the time zone where the index turned bearish for the 1H chart. There was no re-entry position as trading in Asia time zone. The significant pull-back continues when market re-open here. It's 10% pull back this morning. Well, this is a good chance to look at for a better re-entry level. However, we should be cautious to avoid catching falling knives 🗡 what we see from the 1H chart MACD & KDJ both are on the downtrend level/bearish red zone. However, we can look at the support level at 21580. If the index stays above this level then the uptrend is still intact. Otherwise, we could expect a more significant pull-back (cross-check with longer tf chart 4H,8H). For shorter 1H tf swing trade check the 8H Chart for support/resistance level Find support level at 21500-21700 and resistance level 22000 -22300 It has been climbing too fast and taking a break now. Personal POV, prefer the movement slow and steady forming a stable staircase; more sustainable. Happy trading everyone! A pull-back is healthy for taking a breather.
H
by ChenQianYu
Crypto's Bullish Talk, Bearish Trades: A Swarm Intelligence AlgoHello, Artificial Swarm Intelligence I wrote an Artificial Swarm Intelligence algorithm to run on popular prediction platforms, and Swarm AI reported more than 80% of traders believe in a BTC crash. That's strange because the same algorithm on social media wrote that BTC was a trending topic. Everybody talks about Satoshi Nakamoto, and these talks often diverge into bullish ideas about BTC. According to the swarm, people claim to believe in a bullish outcome for BTC, but they trade to expect a bearish future. I leave the conclusion to you. Who to believe, what people say, or what people trade? And will people lose, or will they make a self-fulfilling prophecy? Technical Analytics Technically, MACD demonstrated bearish power until 05 August and slightly weakening bullish momentum by 28 September. At the moment, however, both sides seem powerful. Since 01 October, there's been a bearish cross on MACD, but recently, bears haven't picked up the momentum. Conclusion I'd wait until one of the sides starts to exhaust itself before making a trade. The setup suggests possible targets in the white zone, but also that the market can become volatile. If I traded now, I'd use strict stop losses. Regards, Ely
BITSTAMP:BTCUSDShort
by Elysian_Mind
NFLX showing weakness poised for a sell offNFLX rally is coming to an end it seems with a clear break below its upward support line and holding below. Breaks below back in Sept 11, then quickly reverses back up. Recently breaks below again, tries to regain but fails to get above support level. Stock is now the support level into its resistance level RSI breaks below its 50 level and over the past few days MACD falls into bearish territory NFLX rally since the August sell off looks to be coming to an end. It is expected that October will bring volatility into the market.
NASDAQ:NFLXShort
by ratchet-mint
QQQ and SPY comparison in uptrendComparing QQQ and SPY we can that they still both hold up above the support lines. QQQ and SPY are now showing to hold above their long term downward trend, signaling a turn around RSI still remains pretty stable on both with only slight weakness on SPY MACD on both showing leveling off with slight down ward move forming. Volume is looking to decrease lately This upward trend breakthrough remains fairly strong so far. Its looks like the down trend we have been dealing with for the past 2 months may be coming to an end now overall. Since we still have October to go through, its certainly possible to get one more sell off before we go into a full bull swing.
AMEX:SPY
by ratchet-mint
SWING IDEA - PELNSE:PEL has completed its Lower Low Pattern last year March and has ever since being forming a new Higher High Pattern. At the same time the Price Action and MACD also formed a good Convergence Divergence. Currently the MACD also about to cross in the coming week. This indicates a bullish pattern and chances of going up from here. 915 has formed as a good Support Level and is holding well so far. Once the crossover happens, the stock looks good at least until its Swing High levels.
NSE:PELLong
by thepranam
4
$ELF Bouncing Past the 9 & 21 Day Moving AverageNYSE:ELF On average, technical analysts often observe that when a stock crosses above both the 9-day and 21-day moving averages, there is approximately a 60-70% chance that the upward trend will continue. Conversely, when a stock crosses below both averages, there is about a 60-70% chance that the downward trend will persist. Here are some general figures: Bullish Continuation: 65% probability that the stock will continue an upward trend after crossing above both the 9-day and 21-day moving averages. Bearish Continuation: 65% probability that the stock will continue a downward trend after crossing below both the 9-day and 21-day moving averages. These figures are generalized estimates based on typical market behavior and may vary depending on specific stock characteristics and broader market conditions. Always consider conducting specific #backtesting and analysis for the particular stock or market you're interested in for more accurate predictions.
NYSE:ELFLong
by montiai
1