SHOP - Ready to trend soon?SHOP had been building a rounding base for the past 9 months with 2 (failed) attempts to break it's neckline @ 45.30. The stock finally had a Golden Cross a few days ago on 18 Jan, further solidifying that it is bottoming out.
Even after golden cross has occurred, some stocks can continue to remain volatile within a range for another 2 or even 3 months. Hence a better time to enter long is to wait for a break above a significant neckline (in this case 45.30).
The aggressive trader would enter as the stock starts to break above the neckline (entry 1) although there is a chance this could be yet another false break (but with diminishing odds as the moving averages are now aligning to the upside).
A more conservative trader could wait for further upside momentum by waiting for the 1st pullback above the neckline, and then enter only when the stock starts to break above the last pivot high (entry 2).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Roundingbottom
ICICIPRULI BO, Bulls win the fight, Lets see 😍NSE:ICICIPRULI
#ICICIPRULI shared yesterday as a rounding bottom, after a good fight @ resistance, bully won and price closed above the resistance level.
Sustaining price above the resistance level may give good momentum in stock.
Don't forget to keep in your watchlist 👍
Frontkn Simple Chart AnalysisFrontkn - Rst 3.3 & 3.47 Supp 2.95
Is just a matter of time to have this big rounding bottom to be complete. Let's see
How to view the guidance via chart ( Refer back to pin message guidance if to trade )
Red Line = Support
Blue Line = Resistance
Light Blue = bullish/bearish pattern
Arrow = Double/Trip top/bottom
Red Chip = $$
Green Chip = XX
Technology Simple Chart AnalysisTechnology - Rst 67.4 Supp 63 area
Same goes to our klse tech chart. If nas100 were to rise & shine, entire market technology sector will follow. Very soon we able to see 67.4 break to go next level.
My 2023 Pick For KLSE Tech Counter as below
Frontkn
Greatec
Penta
KGB
QES
NAS100 Simple Chart Analysis Nas100 - Rst 12180 Supp 10674
During a year period of downtrend, we notice that 10674 is the only area being strongly supported with trip bottom pattern. If this area does not broke, i do believe market wave will continue to move towards a big rounding bottom back to highest rst 16590 area.
The risk to fail this recovery pattern will be the rise of CPI data. That's the only concern.
My 2023 Pick For US Counter as below
META
TQQQ
NETFLIX
AMD
BA
Daily review of ETH interval 4HHello everyone, I invite you to update the latest ETH analysis on a four-hour interval.
As we can see, the price followed the designated Rounding Bottom formation, broke the Resistance Level, then positively tested it and moved upwards, in accordance with the presented movement.
Still the main resistance to which the price is heading is the $1477 level.
However, when it comes to the support that we should take into account now, we can set the support at $ 1408, which is currently being tested by ETH, then our previous resistances are new support for us.
As we can see on the CHOP index, the energy has been spent on the last upward move, while the RSI is moving in the upper range. These data may indicate a moment of respite and recovery of the indicators.
NVDA - Setting up (to Long)The semicons have been rising quite steadily since hitting the lows in mid October.
NVDA has risen 63% from it's low in October and is now flirting with the 200 day Moving Average and a neckline resistence. Last Friday's candle was an inverted hammer which suggests it could consolidate below the neckline for a while more.
With overall market momentum lacking, we are also seeing a fair number of false breakups. Hence always trade a breakup with only "test" positions with tight initial stops just slightly below the breakup levels.
A more conservative trader would probably wait for the first pullback from the break up, ensure that the pullback do not invalidate the breakup (eg any pullback that went back below neckline) and then wait to buy the break high of the initial break up (point 4 on daily chart). While this means we are buying at a high level, it also help us avoid many fake breakups which a weak market is often fraud with.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Kirloskar Ferrous rounding bottomCMP 333.90 | New 52 week high | Good volume | Bullish momentum
*Not recommendation
Kirloskar Ferrous Industries Limited (KFIL) manufacture pig iron and ferrous castings. Business areas of the company encompass Grey Iron castings S.G Iron castings Steel Investment castings and Pig Iron.
SHOP - formed a baseAfter falling more than 80% from it's peak of 176.29 on 19 Nov 2021, SHOP began to range sideways since May 2022, forming a rounded base. There was an attempt break up the neckline @ 45.43 on 11 Aug 2022 but it failed after filling a prior gap that happened on 4th May.
It is now close to making another attempt at breaking up and there is a chance it could stall at the neckline (again). However, now that it is crossing above its 200 day moving average, its odds of breaking up successfully in the near future has increased.
Long the breakup with an initial stop just slightly below it's 20 or 50 day moving average.
Its momentum is strong as long as it continues to trend up along or above it's 20 day moving average.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!