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Pullbackbuy

Long Trade in IRDMIridium Communications is a telecom stock in a clear uptrend. Shares have more than doubled over the last 12 months with clear support at the 50-day moving average. The dashed white line on the chart highlights the area I have been watching - the HKEX:62 price level. This has been a key area of support and resistance and a likely place for IRDM buyers to step in and support the stock. The 50-day moving average is here as well which should give additional support. This is buyable here with a sell stop at $60.
NASDAQ:IRDMLong
by rossgivens
Pullback Buy in GBTC (Bitcoin ETF)Bitcoin had a painful 2022. But the digital currency turned bullish this year and is now marching higher. GBTC is an exchange traded fund that holds Bitcoin but trades like a stock. So regular investors can get exposure to crypto without the hassle of digital wallets or sketchy cryptocurrency brokers. The stock is currently wedging on decreased volume. This is the same pattern it showed back in February before a quick 50% surge higher. Volume is telling the story here again. High volume moves higher show accumulation while lower volume retracements indicate and absence of buyers. A buy was triggered on the move above 16.50. This pullback is giving trades a second chance to enter with the recent breakout area and 21-day EMA serving as support. My stop loss would be at 14.95 to risk just under 10% on the trade.
GLong
by rossgivens
1
BTCUSDt is testing the key level!BTCUSDT is testing the daily demand zone, which is a significant support level for the pair. Traders and investors are now waiting for the 4-hour timeframe to flip and retest the previous resistance as new support, according to Plancton’s rules. This could indicate a potential long pullback until the 23600 area. If the price does break above the previous resistance level and holds as new support, this could indicate a bullish trend for the cryptocurrency pair. However, if the price fails to hold as support and falls below the demand zone, this could indicate a short-term downtrend. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
14
Is $EXTR ready for the next move higher?Notes: * Strong up trend * Great earnings QoQ * Basing for the past ~8 weeks * Pulled back to its 50 day line and found support around the 18.17 area * Now coming up on the right side of its base with higher than average volume * Offering an early entry * Printed a Pocket Pivot, indicating institutional demand Technicals: Sector: Technology - Communication Equipment Relative Strength vs. Sector: 5.94 Relative Strength vs. SP500: 5.88 U/D Ratio: 0.97 Base Depth: 15.74% Distance from breakout buy point: -5.99% Volume 88.56% above its 15 day avg. Trade Idea: * Now's a great time to enter as it's just coming off of its 50 day line and also printed a pocket pivot. * Based on its prior performance, $EXTR can go another ~17.6% from here. * If you're looking for a better entry you may be able to catch one around 19.3
NASDAQ:EXTRLong
by HaseebKhan_90
Long trade in CPRXCPRX is the #1 stock in the biotech group by almost every metric. The table on the chart shows its ranking out of all 795 biotech stocks by 3 metrics from IBD's MarketSmith. Sales and earnings are surging and the rate at which both are growing has increased in each of the last 4 quarters. The stock made a false breakout on December 14 when the market gapped up on CPI data. It then put in a shakeout move to hit stops before rallying right out of its base. I am taking a small position in the stock here with a tight stop at 17.65. I want to see new highs in the next several days to confirm the breakout has legs.
NASDAQ:CPRXLong
by rossgivens
Long trade on HALHaliburton is setting up in a volatility contraction pattern trying to break out higher. There is supply at the $40 level, so I want to buy on a pullback off that level to create a profit cushion in case it fails there again. There is also a longer-term cup with handle pattern here with $40 being the top of the handle. Volume is drying up in the base which hopefully signals supply no longer coming to market and the stock becoming harder to buy. I am taking a small pilot position off the pullback to the 50-day moving average (red line) with a tight stop at 35.20. The fundamentals looks great with 4 consecutive quarters of big sales and earnings growth. Analysts also predict another 41% increase in EPS for 2023.
NYSE:HALLong
by rossgivens
AMZN - pullback in a downtrendNASDAQ:AMZN is in a long term downtrend and is likely to continue downtrend unless market shows signs of recovery. However, It has approached a demand zone after 4 days of selling streak. I have highlighted demand zone on the chart. I have used anchored VWAP(if you don't know how to use anchored VWAP then check it out here - www.tradingview.com ). I have anchored it on a recent swing high which seems to be acting as a dynamic resistance. Todays candle filled the previous gap and entered in the demand zone. It found sufficient demand (buyers) to absorb the supply which caused the price to rebound with a good volume. This could be a start of a pullback in a overall downtrend. Now considering the VWAP as a dynamic resistance and a visible last support level at 133 (which could act as a resistance now), a conservative long target would be at 133 as shown in the chart. If you have different opinion, please share your thoughts in the comment. If you like my ideas, then please show some appreciation with a like and follow. Happy and safe trading! :)
NASDAQ:AMZNLong
by PriceActionTrader1
Is $PSTG ready push higher on the right side of its base?Notes: * Steady up trend on all time frames * Great earnings track record * Basing for the past ~8 months * Pulled back to its 20 day line and is now moving higher with volume Technicals: Sector: Technology - Computer Hardware Relative Strength vs. Sector: 3.54 Relative Strength vs. SP500: 6.42 U/D Ratio: 1.24 Base Depth: 64.4% Distance from breakout buy point: -15.42% Volume 41.61% above its 15 day avg. Trade Idea: * You can enter now as the price is recovering from its pull back on high volume * If you're looking for a better entry you may be able to find one around the ~$30.7 area * This stock usually has local tops when the price closes around 19.92% above its 50 EMA * Consider selling into strength if the price closes 19.72% to 20.12% (or higher) above its 50 EMA * The last closing price is 9.1% away from its 50 EMA
NYSE:PSTGLong
by HaseebKhan_90
Can $HRMY break historical resistance once again?Notes: * Steady up trend on all time frames * Okay earnings track record * Trying to break above historical resistance of the ~52.8 area * Pulled back to the 50 day line * Printed a bullish outside day in the last session * Earnings report reaction sold off to the 50 day but bounce from there indicating demand around the $50.34 area Technicals: Sector: Healthcare - Biotechnology Relative Strength vs. Sector: 17.65 Relative Strength vs. SP500: 41.59 U/D Ratio: 0.96 Base Depth: 70.33% Distance from breakout buy point: -8.1% Volume 8.87% above its 15 day avg. Trade Idea: * You can enter now as volume comes in after the earnings report reaction * If you want a better entry you can find one around the $51.7 area * If you want a safer entry you can wait for a clear break/hold above the ~52.8 area as that is historical resistance. * This stock usually has local tops when the price closes around 16.84% above its 50 EMA * Consider selling into strength if the price closes 16.64% to 17.04% (or higher) above its 50 EMA * The last closing price is 5.44% away from its 50 EMA
NASDAQ:HRMYLong
by HaseebKhan_90
Is $CAL ready to move higher after pulling back?Notes: * Strong up trend since 2020 * Great earnings in the recent quarters * Pays out dividends * Creating a base for the past ~14 months * Recently bounced from its 200 day * Pulled back to its 50 day and is now showing signs of recovery with volume * Historical resistance comes in around 29.85 Technicals: Sector: Consumer Cyclical - Footwear & Accessories Relative Strength vs. Sector: 2.83 Relative Strength vs. SP500: 3.88 U/D Ratio: 1.4 Base Depth: 66.55% Distance from breakout buy point: -6.6% Volume 27.64% above its 15 day avg. Trade Idea: * You can enter now since volume's coming in as it bounces from its 50 day line * If you're looking for a better entry you can look for one around the 27.3 area as that would be ~50% of the bullish pin bar we got in the last session * This stock usually has local tops when the price closes around 21.42% above its 50 EMA * Consider selling into strength if the price closes 21.22% to 21.62% (or higher) above its 50 EMA * The last closing price is 5.76% away from its 50 EMA
NYSE:CALLong
by HaseebKhan_90
Is $WWE offering a low risk early entry?Notes: * Strong up trend on all time frames * Great earnings track record * Consolidating for the past ~14 months * Now approaching resistance of its base * Bouncing off of its 50 day line with higher than average volume * Showing tonnes of relative strength and signs of accumulation * Printed a pocket pivot indicating institutional buying Technicals: Sector: Communication Services - Entertainment Relative Strength vs. Sector: 1.55 Relative Strength vs. SP500: 1.64 U/D Ratio: 1.62 Base Depth: 49.38% Distance from breakout buy point: -7.8% Volume 67.5% above its 15 day avg. Trade Idea: * You can enter now as it's just moving off of its 50 day line with higher than average volume * If you're looking for a better entry you might be able to find one around $63.18 * This stock usually has local tops when the price closes around 13.18% above its 50 EMA * Consider selling into strength if the price closes 12.98% to 13.38% (or higher) above its 50 EMA * The last closing price is 3.18% away from its 50 EMA
WLong
by HaseebKhan_90
SANDUSDT is testing the Metaverse Demand ZoneThe market is testing the demand zone on 0.8 where the Metaverse FOMO started. The price had a little bounce and retest the 4h resistance after the breakout from the pennant on 1.5$ How to approach it? The price needs to create a new breakout from the 4h resistance and retest it as new support. IF the price is going to have a breakout, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
12
XRPUSDT wants the pullbackThe price is creating a falling wedge and the price is testing the dynamic resistance after the first rejection on 0.382 Fibonacci level. After the Breakout from the descending channel the price created a double bottom on 4h Timeframe. How to approach it? IF the price is going to have a breakout and retest the resistance as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
6