GBPNZD shortGBPNZD made an area that looks good to me. Waiting for a rally to supply, entry at the area. RS reading NZD = 6, GBP = 3.
Relativestrength
NZDUSD longLooking for longs on NZDUSD. RS reading NZD = 6, USD = 2 while retail crowd is overall bearish at -2.
Capital Bancopr $CBNK waiting for earning reportThe commercial bank is making an ascending traingle, or a volatility contraction pattern. Volume is been declining throughout the formation and the price is above the 21 and 50 day MA. Also, has a IBD relative strength rating of 93. These are good technicals.
Next week reports earnings and the estimates are a $0.60 EPS, anything could happen after that report. I can't find the options activity so I don't know what the market expects. The thing is that NASDAQ:CBNK is been beating estimates for the last 4 quarters, has an inter annual revenue growth of +50% and a ROIC of 43%, those are good fundamentals. Is confirmed by IBD placing NASDAQ:CBNK number 4 in its Industry Group.
I normally use a 1.50% percentage filter above the breakout zone so, I'll be placing a BUY STOP at $25.30 with a STOP LOSS at $23.22. This first buy will be with half of my position sizing. I f it works I'll buy with the other half.
AMBA - Ambarella, Inc.Semiconductor solutions and design company with accelerating EPS and the sales to support growth.
Breakout of very long term base going back to 2015 after earnings report in August. Showing very good volume characteristics. Relative strength breaking out to new highs with stock taking out its pivot point.
100bps initial risk, willing to add if it begins to move higher.
Head and shoulder forming in NasdaqAdded to yesterday's S&P500 fun, we'll now take a quick look at the US Nasdaq.
First of all, and as the title rightly proclaims, we have a likely head and shoulders forming. Yes, it's ugly as , but according to author Thomas Bulkowski, the ugly ones are the ones that tend to vastly outperform the crystal clear ones. The reason is simple: the ugly ones are harder to identify and thus there are fewer traders who exploit them. With the clear ones, on the other hand, they tend to become reverse self-fulfilling prophecies as they are ideal candidates for squeezes in the opposite direction.
If this H&S were to play out we'd be looking at a technical target of $13 300, which itself nicely aligns with a horizontal support.
There are two things in particular that speak in favor of this to occur.
1) We have already seen lower highs and lower lows - as in the ABC's of technical analysis to determine when a trend has changed.
2) On September 16 the RSI made an upper bearish blue closing from below after having sailed down from continuously high levels. This is THE biggest sign of downside to follow. And the remarkable thing is how this reversal sign was given a mere -1,17% from the absolute all-time high. For more on these immensely powerful RSI strategies, please watch the RSI trilogy.
With that said, I would not be too surprised if the price were to temporarily break the diagonal resistance line. This would trick the market and perma bulls that a recovery is in store. This would then likely be rejected at the $15 170 area.
USDJPY 4H reaching the important yearly resistancesUSDJPY 4H reaching the important yearly resistances. A short opportunity is likely to emerge on weak candles at resistance or a recent bull candle break which will lead to test the recently broken trendline. Some of the oscillators and relative strength against DXY have initial indications of bearish divergence.
F5 Networks $FFIV, island reversal patternF5, Inc. is an American company that specializes in application delivery networking, multi-cloud management, application security, and online fraud prevention. This stock has a really good relative strength against its sector, the quotient with AMEX:IGN confirms that.
Recent price action shows an island reversal pattern, downward and upward gaps around $200 and $194. This pattern often has throwbacks and it already happened tested the 50-day MA and rebounded. Now, its trying to make an early breakout with low volume. The thing is that is giving bullish signs that it could make the real breakout above the $215 zone. Today could be good to add a small percentage of the position and then add the rest when the breakout above $215 happens.
EURUSD - 1 hour callShort EURUSD as it breaks pivot. Fundamental news expected data - US Inflation data. Market is expected to be volatile , good for trading with cautious SL. All Bulls and Bears point mentioned.
Stocks To Watch (Relative Strength Edition)The Market's longer term uptrend still intact. Breadth is deteriorating again. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 22 total stocks on this list Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
How I Use the RSI Indicator for DivergenceThis indicator always works best on higher time frame charts because on the lower time frames it becomes too noisy and not consistent. Suggest not using below the 1H chart. 4H chart or higher is always best. Sometimes it's always easier to see a real life example rather than a drawn out one or simulated one.
GBPUSD longs on 4HR as it strengthens against DXYBuy GBPUSD with strict SL. Trend lines and FIB support and strength against DXY and high RSI are all supportive of bullish Heiken Ashi to continue.
TUTORIAL - STUPID WILLY VS. RSIAlright, y'all... by multiple requests... My favorite indicator that I use every day... STUPID WILLY 🙌🏼 VS. RSI
I made this video kind of quickly so if you have questions let me know and I'll either respond directly, or make another video to explain...
I hope this helps...
Indicators in this Video - Cycling Willy, RSI, EMA or RSI, and NSDT autosupport
Breakout confirmation for $TSLA?Yesterday the price of NASDAQ:TSLA made a breakout from a downtrend line with good buying volume. It has pretty good relative strength against the market and the ADX is the 20s, stating that its not on trend yet. So, this could be the start of another bull run.
NASDAQ:TSLA has a IBD relative strength rating of 80 and is Rank #1 in its industry. Still, it needs to break above $720 with good volume to actually confirm the upward move and have a perfect buy point.
The Oil/Gold ratio, a path guiderFollowing our earlier post from last week on the 29th featuring a chart of the Oil/Gold ratio, we can see that we are back inside that trading range. Watch this 19-min video for more clues on how to trade the changes that could affect markets in the coming weeks in terms of volatility and trend direction.
Bullish- Inverse H&SSolar sector has shown some nice relative strength compared to the broader markets over the past few weeks- NOVA, Inverse Head and Shoulders formed (Orange Dotted line- Neckline), EMA's all starting to curl upwards, buyer volume picking back up again, MACD cross to close on Friday. Definitely bullish and will be looking for a breakout from here.
Symmetrical Triangle - (Update)See Previous Charts-
- Buyer volume picking back up, has had nice relative strength compared to others in the sector
- MACD cross
Looks like SEDG has finally bottomed after quite a long, and in my opinion a much-needed pullback. SEDG recently was upgraded by Goldman Sachs, will be looking for long entries as there appears to be a Cup and Handle forming as well, bullish
PT1- 260.77$
PT2- $270+
(Boxes are RSI based Supply/Demand zones)
After consolidating in a long regression trend for quite some time, SEDG is holding within a triangle while forming an inverse head and shoulders, (orange- neckline). SEDG has earnings on 8/3' along with ENPH. Looking for a run-up to ER. Both previous price targets hit, undoubtedly a long-term play should provide multiple good entries. Bullish
Stocks To Watch (Relative Strength Edition)The Market may have some more room to the downside with the longer term uptrend still intact, I look at some intermarket analysis to evaluate the situation. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 8 total stocks on this list. Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
Bullish- Triangle breakoutWatching HD closely here- Strong relative strength yesterday, looking for a breakout at the end of this triangle
- MACD cross
- EMA's starting to curl (not pictured)
- Symmetrical Triangle forming with buyer volume stepping in
- Bollinger Bands are Squeezing
PT1- 321.50$
PT2- 323.48$
PT3- 325.00$
$ANET is a clear leader, does still has room to go?Arista Networks NYSE:ANET is a company that delivers software-defined networking solutions for large datacenter, cloud computing and high-frequency trading environments.
According to IBD is the leader in its industry (Computer-Networking Group). I compared Arista Net to AMEX:IYZ , an ETF concentrated in telecommunications and NYSE:ANET is leading the sector. IBD gives a Relative Strength Rating of 86 against the market.
So, the stock broke out of a large base in November of 2020 and at that moment its Price/Earnings Ratio was at 30 something. Then on the 2nd quarter broke out of a "cup and handle" and now is breaking out of a flag pattern; this is a very good continuation pattern. The thing is that its PE Ratio is nearing 50, so it has increased a lot since it broke out from its frist base. This could mean that it may not have a lot of room to go.
As for today, the buying volume is not above average so I would wait for more confrimation signals. Still is a stock to watch very closelly.
The return of tech leadership? $CRWD is doing the VCP NASDAQ:CRWD looking good. Formming a volatility contraction pattern (VCP), price above 20d, 50d and 200d MA , better than expected earnings for the last 3 quarters and the sector is having a good relative strength against the market. So, now I'll be waiting for the breakout above $227 to entry.
Another thing worth mentioning is that its price earnings ratio (PER) is negative, this means that its earnings are far greater in relation of its stock price and need catching up, which is starting, that is a good sign.
Is rotation to growth in the horizon? $FFTYThe Innovators ETF AMEX:FFTY is being underperforming the TVC:SPX since February. This ETF is concentrated in growth stocks; so is a good barometer for that sector of the market. I see a volatility contraction pattern (VCP) with lowering volume, classic pattern before a crazy breakout. This breakout could be upward or downward, the thing is to be reactive.
At the moment its relative strength against the TVC:SPX haven't indicated anything bullish, and the price is below the 20 day and 50 day MA. I'll be waiting for confirmation. The bullish sign for me is that some tech names have been making good breakouts, like NASDAQ:CRWD , NASDAQ:UPWK and NYSE:U . For me these stocks could be the next leaders.
Reatil leaders, looks like $TLYS is going for itThe chart is really looking good. Confirmed uptrend with a VCP formation while above its moving averages accompanied with decreasing volume. Also, it has a very good IBD Relative Strenght rating, 92 points. For me is a good stock to buy but I'm being very carefull, there has been a bunch of failed breakouts lately so wait for confirmation. I'll wait for the breakout AND how it closes on the day it makes that breakout. If the volume is high and it close above with strength then I'm buying but, with half of my position size.
After that I'll keep a close eye on the next week of trading counting the up days vs the down days. If everything looks good I'll let it run if not, I can sell half the position or the entire position. Only if the stock follows through on increased volume I would add to the position.
