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Spinningbottom

Spinning Bottom Reversal - NiftyAs discussed in the previous blog, the sell-off was expected to 17000 1. Spinning Bottom Candle, which depicts the reversal and is also supported by open interest data, A lot of puts are being shorted 2. Regression channel, Since Dec 2022, Nifty has been moving in the regression channel, It is reversed from the bottom of the channel. Assuming these structural formations, nifty will likely trade above the 16900 to 17000 range for the next 2 Weeks as long as support is intact. This week's candle formation will derive the sentiment for April Month.
NSE:NIFTY1!Long
by OK_Rane
You must pay attention to these points next week! 👀Ok, we have no buy signs triggered here, and WISH is just falling. But when will it stop falling? The good news is that it is doing a double bottom in the 30min, and the RSI is a little oversold. We do have a weak bullish divergence too. The 12.10 is the breakpoint for WISH, again. By breaking it, it’ll start to climb again. The 4h chart is interesting. We are already near the lower band, and we did a spinning bottom today. The RSI suggests we could drop to the 10.37, but WISH is pretty tired in the 30min. Now is the time to WISH break the 12.10 again! Let’s all keep our eyes on this point next week! I'll constantly update you guys! If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
W
by UnknownUnicorn21312077
9
A trading idea on Nike! 👀Hi everyone! Today’s trading idea is on Nike (NKE)! It is a long trade for 3 reasons. First, the pivot at 131.83 was broken today, and this might be the beginning of a good movement next. Second, the RSI shows an advanced breakout, and this is another confirmation we have here. Third, we are near support level in the 4h chart (130.48), and NKE is doing some interesting reversal patterns around, like a spinning bottom and recently, a bullish engulfing. If it loses the support, we should get out. The target is the 138. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NYSE:NKE
by UnknownUnicorn21312077
2
Biotech Double Bottom (+ Divergence & Bollinger Reversal)Technical Analysis 1. As you see in the chart, we have tested the 200ema 3 times in the past; and it has not trade below it since April 2020. We have made a spinning-bottom on a downtrend, coincidental with a 4th test of the 200ema. 2. RSI and OBV show a positive divergence as the bottom from 2 weeks ago (Test #3) was at a lower level. 3. Bollinger Bands give us another bullish signal, as the first low (Test #3) was outside the lower BB, and the second low (Test #4) was inside the lower BB. Trade Setup A break below Test #3 which is $142.47 could be a potentially good place to set a stop-loss exit. Short-term target to the upside --> $160.5 Mid-term target to the upside --> $170 Trade with care
NASDAQ:IBBLong
by dorfmanmaster