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NFLX Low Risk Short PositionNFLX has been trading in a range for many months, as we can see by this weekly chart here: Stochastics on the daily chart are showing it as heavily overbought, with an RSI of about 85, likely in anticipation of earnings which come out in 6 days. Historically, NFLX sells off about 80% of the time post earnings, usually quite steeply, with an average sell-off of between $50-60 dollars within the week that follows earnings. Here's a daily chart with stochastics visible: Barring a few temporary outlying moves to the outer extremities of its range, I believe NFLX will either: 1) Push up towards and then reject at the $566 level and then retrace back down towards $515.00 post earnings. 2) Falter post earnings and retrace to more "typical" RSI and stochastic levels prior to earning hitting. 3) (Hopefully not) push outside its trading range (difficult to imagine this scenario actually happening) and form new highs above its existing range. I am currently in an Iron Condor on NFLX with 570 and 490 short strikes. It is leaning bearish at the moment, but a move back down downwards 515 and a crush of implied volatility will substantially help my position. I believe both are likely to happen in the current market environment. -------------- If you were to enter NFLX short, you might consider it around the $566 level, assuming it pushes that high. You could accomplish this with a call credit spread which would give you the benefit of IV crush, assuming volatility decreases (which it would, if the price fell off steeply.) You could also take a bearish debit spread, but that will struggle with volatility collapse as it's a BTO position. ------------- Whatever happens, I'll be curious to watch NFLX as it develops. I do not think it's current price behavior is sustainable.
NASDAQ:NFLXShort
by PureDelta
4
AUDUSD - Neutral Pre Powell TestimonyAUDUSD has consolidated below support at 0.786 as the US dollar has strengthened across the board. Additionally, the Australian dollar has weakened due the impact of covid as cases have risen resulting in Sydney extending it's recent lockdown. If Powell indicates in his testimony later today that the FED are likely to raise rates sooner than expected by the market this could lead to a sharp drop in the currency pair. The next support level is as it 0.71 which if breached could lead to prices challenging the psychological 0.7 level. Therefore at this stage we hold a neutral AUDUSD view as we await significant price action and major announcements to enable us to form a directional view.
by KQMarkets
What to expect from TATAMOTORS.NSE:TATAMOTORS After Sluggish/consolidated move from 8th Feb 2021 and few test to the resistance level of 351 we did see good down move with good efforts in last week from same level, one can say due to the negative news of JLR results. Which was not expected at least by me. So what to expect from here in TATAMOTORS, well not matter what kind of news cause this effect on TATAMOTORS chart but as far as CANDLE formation and kind of efforts it got its clearly indicating supply in here. If we see follow through selling and breakdown to the level of 280 swing and short term traders must get out of this counter. In closing below 280 will take TATAMOTORS deeper towards the level of 200. And if we don’t see any follow through selling and rather we see bounced back from here we must have to wait for breakout to the level of 351 to make any fresh positions in this counter. Bounce back can also be expected coz on daily chart we are not seeing good follow through selling as price range is narrowed and volume is also drying out. Check the chart below. Conclusion one can wait and watch only those who have holding any position right now don’t though them out till closing below 280. And swing and short term traders who are looking for fresh positions in this counter prefer to wait for a breakout of 351. Long term investors don’t need to worry here. Any stopping or sign of reversal can be good opportunity for averaging. || Hari Om || || Ambadnya ||
NSE:TATAMOTORS
by PriceVolumeRider
2
DXY UPDATEDXY finds itself on a weekly trendline that acted as resistance previously and now the price had its first reaction to it. Only time will tell if it will manage to send the price back down or not. A weekly close above the 93.012 can act as good indication that the Dollar can go higher, at least to 94.50 and maybe even higher. And a weekly close below the 91.81, can act as a good indication that it will test previous levels, like to the trendline acting as support, or maybe even lower than that. Either way, there will be a nice opportunity to take advantage. Patiently waiting.
INDEX:DXY
by ITS-BENG
TrendTracers Weekly Market Analysis #7TrendTracers weekly analysis Review last week conclusion Last week’s conclusion still holds up. Bitcoin is more bearish and we profited off some shorts. BTC BTCUSDT is testing the HMA after a buy signal indicating a possible long but price is still in chop. Price is ranging and we broke slightly above resistance finding liquidity and dropping back down into the range. We will be more bullish when price breaks the 36500 level, where the EMA is. Beware taking longs here since price is still below the weekly baseline and within a range. BTC.D is still accumulating from the lows and hasn’t done much since last week. The chart is moving sideways but it’s definitely not altseason. So our advice is to stay out of altcoin longs. ETH Our bearish case from last weeks is playing out on ETHUSDT. Price broke down from the ascending triangle and we expect a drop into support between 1750 and 1400. Alternatively price can form a higher low here but to confirm it a bounce above 2300 is needed. If that is the case and our system prints a buy signal, we go long. ETHBTC is still within our triangle but it needs to reject the lower trendline soon. If this pattern plays out it will suggest a breakout to the upside, meaning a larger movement of Ethereum than Bitcoin. DXY, USDT We called a bottom on the DXY last month and it looks like we were right. DXY shot up 2.3 percent since then. A test to 93 is expected, if this level breaks there might be a global sell off across the markets. Let’s hope that the DXY will reject the 93 level. USDT.D is creeping up towards resistance. We are waiting on a rejection at 5.00 percent. Or we are forming a range here meaning some more upside for BTC on the downtrends. If USDT.D breaks resistance at 5.00 percent and stays above it for a couple of days then the crypto market will be very bearish. Conclusion The market is going sideways. On BTC we want to see 37k break or we want to see a liquidity grab around 28k and a quick wick up. Until then, sitting on your hands is still the thing to do. It has kept us safe during this chop. These are periods in the market where a lot of traders are losing. It’s best to wait for price to start trending again and when the trend is confirmed, act on it.
CRYPTOCAP:BTC.D
by dab1rd
$TSLA as neutral as it gets*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Elon Musk: "Tesla has diamond hands" $TSLA is one of the top most talked about and traded stocks right now. Its staggering growth within the past two years is evidence of its potential, but regardless $TSLA was long overdue for a correction at some point. $TSLA now sits at $618.45 per share after correcting from its 52-week high of $900.4. My team has analyzed the financial sheets of numerous companies, large and small, but only few have matched the absolute beauty that $TSLA really is behind the scenes. Not to mention the fact that $TSLA is so much further ahead with their electric vehicles and self-driving technology than the likes of competitors such as Ford, Toyota, GM, and even Nio. My team is patiently waiting for $TSLA to breakout from the triangle on our chart. We believe in our hearts that $TSLA will continue to be a dominant player in the market long-term, but sometimes believing just isn't enough. So for now we remain neutral on the sidelines. Our patience will be rewarded... If you would like to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:TSLA
by SimplyShowMeTheMoney
2
All bullish signs for $GBTCI'll open this saying that always wait for confirmation. Now, all I can see in this chart are bullish signs. The ADX is above 40 points stating the end of a trend. The MACD is making the bullish cross while in good divergence with the price action for the last month. Last week OTC:GBTC made a bullish candlestick pattern called "the island reversal", is when two gaps are formed on the same zone creating an "island" on at least one candle; and to add, that candle is a "shooting star", one of the most bullish candle formations. Regardless of what I see, OTC:GBTC is still on a downtrend. This could only be the start of a reversal, which it would be foolish, at least for me, to buy it. This analysis is to have a close eye on this security that's all. I'll leave a bearish analysis to give some perspective. Is in spanish.
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by dpuleo19
1
Bitcoin - Neutral We still hold a neutral view on Bitcoin whilst the cryptocurrency remains below resistance at around $43,500. The 50 day MA has moved below the 100 day MA and appears likely to cross the 200 day MA in the coming trading sessions triggering a sell signal. Bitcoin has rallied in the past few days on the back of regulators proposing capital requirements dealing in crypto and El Salvador adopting Bitcoin as legal tender with the possibility of other South American countries following suit at some stage. However, there is still significant amount of volatility on the market and if prices were consolidate below support at around $29,300 this could quickly lead to prices dropping towards $20,000.
BITFINEX:BTCUSD
by KQMarkets