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Overbought

GameStop Corporation Stock AnalysisGME stock is on the radar of many traders. Its what everyone has been talking about. It is an especially interesting stock because of it's monstrous rally up from around $30 to over $300 in just a matter of days. I myself, didn't know this stock existed until a few days ago...by then it was too late to enter. But anyhow, I thought this stock is gonna make history...so that's why I'm doing an analysis on it. I think it's severely overbought, and we shouldn't see much more of an increase in price. The candle on thursday confirms this because it went down quite a bit that day. Then it partially recovered the next day (friday). Now it's sunday...and tommorow, the market opens. So I bet that it's either gonna move up a little more for a few days or stay flat or most likely... move down. But the takeaway here is that I sense GME is overbought or close to overbought. So I drew the pathway the price will most likely take in the chart above for GME. So basically, the picture says a thousand words...and we should expect a dip in GME's price before continuing upwards or staying flat. Enjoy!
NYSE:GMEShort
by racer8
Looking for shorts on NASDAQNASDAQ is very overbought and there is a huge RSI divergence. Additionally it is sitting at the top of a channel, forming a strong resistance. With the recent buying hype and people going long, it would make sense that they will bring the price down to cash in all the longs. Of course wait for confirmation, as this is NASDAQ and it can keep going up indefinetly. A pullback is expected, before more buyers come in. Similar situation for US30 and SP500.
UShort
by aureliscapital
High probability swing short set up on CRSPHere is my short case on CRSP: - at the top of trading channel started since Feb 2020 - over bought reading on RSI - both PPO and RSI shows very clear divergence high Starting building a position as it hits the top of the channel and scale in as it moves down. Impulsive break of the wedge should move it down to the support at $161. Reaction will be likely, consolidation or a minor bounce. Then, if it gets taken down, then moving down to the bottom of the channel which intersects with $145.80 horizontal support. If that breaks, it's going way lower since $110 and $131 area are pretty thin so the move will be probably pretty swift.
NASDAQ:CRSPShort
by TK0421
5
OverboughtSnapchat is overbought in the short term and indicators are showing a steep decline. First: MACD shows weakening bullish divergence Second: D+ shows high levels of bearish divergence Third: RSI is 71.62 indicating that the stock is overbought Fourth: Candle bodies are getting smaller as price increases showing that bullish volume is decreasing as price increase, and in order for bullish volume to increase, price needs to decrease. Think of SNAP needing a mini correction. I believe we will see this correction during the second half of the week. Comment your thoughts below! Leave a like if you agree and make sure to follow
NYSE:SNAPShort
by Myantman101
13
BTC BIDEN short back to $30KThe Past week of chaos in the US government + the continuation of Stimulus Check distribution + Biden's 2021 Inauguration will bring an incoming strength to the US dollar. DXY is showing signs to test 91.5 or potentially 92.6 levels. BTC has begun the selloff 1/10/21 around 6AM EST. $10,000 drop to liquidate impulse buyers in the crypto market. Can dip to test ATH 12/27/20 like it did 1/04/21 05AM EST. **** IF TEST under $26,119 may dip under $20,000*****
COINBASE:BTCUSDShort
by chestephens1
2
Bitcoin oversold .. will it correct? Lets see..Just an idea but you can see how heavily over bought BTC is on the weekly .. currently over the 90 RSI. You can see that I circled other RSI periods where Bitcoin was over a value of 90 and how it soon corrected afterwards.. the longest period Bitcoin hovered over 90 RSI was in the 1st 'bubble' which lasted for seven weeks before taking a dive. Same thing with the 2nd 'bubble' which also lasted 7 weeks. 3rd bubble lasted 2 weeks. In our current state of being over bought, labelled 4, we are 2 weeks in an over bought RSI over 90. If Bitcoin is nearing a correction then $19k support would be a good area to add buy orders, also the golden ratio fibs. A correction might not come for a few more weeks as per the first and second RSI bubbles show but that was when Bitcoin was a hell of a lot cheaper than it is now, so it makes sense that people would begin taking profits a lot sooner today. After a 920% gain since March, I don't think a 50% correction is out of the question but we will see!
BNC:BLX
by Secret_Cervix_Agent
2
Crypto Keeps RunningIts crazy, the run the crypto markets have been on. Its just nuts. But its still going and going strong. Let's take a look at a few coins. Bitcoin Blasting past $41k, its been mind blowing, the support behind BTC recently. Looking at our D+ indicator, we can see how overbought levels have made small dips in price over the past few months. (I like the 3h chart). But even on this 1h chart we can see the D+ cloud growing and shrinking, staying at relatively the same level. This is a good sign for growth, and that steady support is still here. Ethereum Just as crazy as Bitcoin, ETH has been on an amazing run as well. I wish I bought more! (But hey, who doesn't?) On the ETH chart is the Raygun script, showing support and resistance levels. What's cool about Raygun is you can see price helix around these levels, and use the colored dots to visualize which way its going next. You see all those big green dots in a row along the red dotted line? (The red dotted line is a S/R level.) Seeing all those green dots is clear support at $1170. Its been tested multiple times and continues to hold. Looking good for ETH. Nano This coin popped on my radar recently as a coworker of mine mentioned he is still holding a bag from 2017. I'm not sure how much he lost back then, but I bet he's made it all back and then some in this run! Here, with the Auto Fibs script, NANO is showing perfect fibonacci retracement price action. It rose up to a high, retraced back 50%, then turned to continue upwards. Now, its playing with the 23.6% which seems to be holding as support. We'll have to keep an eye on NANO and this fibonacci script levels to see how its going to behave. All in all, this has been a crazy run. I'm still long, and of course wish I had put more in to my crypto bags. When will this run end? Who knows. its a different game being played now in the crypto space it seems. Do you sell your bags now and run, locking in your profits? Or do you hodl and wait to see what happens next? If the latter, just be sure you have a good script or indicator you trust to alert you to get out when things turn. I'm still in...and watching these scripts closely.
COINBASE:ETHUSDLong
by marketscripters
2
BTCUSD - update - previous buyHello everyone, if you like the idea, do not forget to support with a like and follow. as per our last video analysis, we were waiting for a new swing to form around the red trendline to consider it valid and then buy on its break upward. While clearly didn't happen, so our entry would be after the previous swing high (updated via live streaming) as you can see resulting in a bigger stop loss. This buy reached +1R so now we are holding the buy with our stop loss around breakeven, and waiting for the take profit +2R to be hit. and of course, as price approaches the upper gray trendline (which acts as an overbought area) we can always close the trade in profit around +1.7R. meanwhile, BITCOIN would be overall bullish and we will be looking for new buy setups to form on the retest. Good luck! ~Rich
BITSTAMP:BTCUSDLong
by TheSignalyst
24
#BTC #Bitcoin AnalysisBitcoin broke the resistance of the previous ATH with a volume higher than the previous one, although not the largest of the full cycle. A bullish channel has formed that had two small breakouts with throwback. The price action is above $ 34,000, which remains above the support of $ 33,300 the probability of continuing to rise remains. In addition, the overbought pressure indicated by the indicators has decreased, which could lead to a continuation of trend (some divergences are no longer important). However, if momentum falls, we could see a pullback again that would move between the $ 30,000 and $ 33,300 supports, and the simple moving averages that would act as dynamic supports.
Long
by jumperstars