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Johnson & Johnson head and shouldersLooks like a right shoulder could be forming, weekly chart offers a nice view and divergence for the H&S pattern. A break to the low through 200SMA on a daily chart could signal a nice short. J&J tasked a Federal Judge to take over the 2400 lawsuits because of the baby powder fiasco so company is still dealing with the fallout. Could be a good trade for next week. Although earnings on Tuesday were positive there was no bullish spike. Have a great Easter weekend!
NYSE:JNJ
by Antonio_trader
Apple - The Bearish DivergenceLook at the market when the price reached the top at 230.00 level. The price formed a bearish divergence with RSI and MACD. After a breakout below the uptrend line, the market continued the downward movement. The same pattern we have now. The market gives us a new bearish divergence. The local uptrend line was broken and it allows us to think about shorting. The price will be able to start a new downward movement with targets at SMA50, SMA100 or the support levels. For confirmation the upward movement the price will have to break 200.00 resistance level. Will buyers have the power for such breakout? We will see. Indicators tell us about the possible downward movement more than about the breakout and the continuation of the uptrend.
NASDAQ:AAPLShort
by DLavrov
2
PEPSICO - Sell OpportunityThe price reached a resistance zone between 122.00 and 123.00 level, and we got a reversal. RSI confirms the price reversal and gives a bearish signal from the overbought zone. MACD supports a possible downward movement. DMI is bullish and confirms the uptrend, but ADX line starts falling. It tells us that bulls are not so strong now and the market can begin a correction movement. If the price breaks the local uptrend line, we should be ready to see the falling to one of the possible support levels or Moving Averages with 100 and 200 periods.
NASDAQ:PEPShort
by DLavrov
Twitter - Sell OpportunityThe price bounced from the resistance zone between 35.00 and 35.50 levels. RSI confirmed the price reversal. The market looks overbought and the downward movement will be logical. MACD histogram gives a bearish signal. MACD lines are going to support a possible downward movement. DMI is bullish but ADX line, after reaching 50.00 level, starts a sideways movement. It tells us that buyers can take a rest and the market will be able to start a correction movement. If the price breaks the local uptrend line, we will get an additional signal confirming the further downward movement to the nearest support zones at Moving Averages and support levels.
NYSE:TWTRShort
by DLavrov
WALT DISNEY - Sell OpportunityThe price is at the resistance zone between 115.00 and 116.00 levels. We get a reversal candlestick pattern which can be used for opening sell positions. If the price drops below the low price of this signal candle, it will be a confirmation of the further downward movement. The targets for the sellers should be 112.00 and 109.00 levels. RSI is going to confirm the price reversal from the resistance zone. MACD and DMI still support the upward movement, but for getting additional signal confirming the strength of buyers, the price will have to move above the high of the signal candle and stay above the resistance zone.
NYSE:DISShort
by DLavrov
4
TESLA - When to BuyIt was a good trading opportunity for buying Tesla shares when the price bounced from the support zone. RSI confirmed the price reversal. MACD supported the further upward movement. The market moved upward, and now it's not far from possible resistance zone formed by lines and level. They are SMA50, the downtrend line and 300.00 resistance level. This zone will be able to stop the market and push it down to the previous lows. If so, new reversals from 250.00 support will be good for buying, as it is the local bottom for the market. But what if the price can pass through the resistance zone? If so, it will confirm that buyers have power for pushing the market higher. The long positions can be opened based on the breakout signals above the downtrend line and 300.00 resistance. Stop orders for such long positions should be placed below the local swing lows and profit targets should be at the higher resistance levels.
NASDAQ:TSLA
by DLavrov
1