Walmart / WMT broke through the 1day MA50 and is testing the bottom of both the short and long term Channel Up patterns. This is the first technical buy entry of this sequence, with the second being on the 1day MA100 and as long as no 1day candle closes under it. Buy and target 168.00 (Fibonacci 1.236 extension). Note: The 1day RSI also has clear Support levels...
Technical Analysis and Outlook: Based on this week's trading action, the Inner Index Dip 4212 seems to be experiencing a bias to a continued downward side pattern. The Mean Sup 4246 is playing a crucial role in holding the price. But, there's a chance that the market could rebound to Mean Res 4340 and even extend to Mean Res 4400 on the upside potential.
We are at an interesting zone when it comes to AAPL. It's holding strong above the most relevant pivot low as you'll see in the chart. There is a chance that it can go up fro here so if you would like to long, I would place a stoploss elow the recent wick low. I would also manage my position size so the its a 1% risk on the trade it your stop was to hit. In the...
Over the past few weeks, AMD stock has again visited lower levels below the 61.80% retracement in the turquoise target zone between $106.39 and $91.87. However, as of this week, the stock has been moving decisively higher, and we now believe that the bottom of the turquoise wave B has been completed. As a result, the price should now be in the turquoise wave C,...
Nike isn't on its best long term technical outlook being neutral on 1D but bearish on the 1W timeframe (RSI = 36.926, MACD = -4.740, ADX = 46.648). The four month pattern is a Channel Down, which if broken upwards should target the 1W MA50 (TP = 111.50). That's on the medium term because on the long term, the market needs to cross over the 1W MA100 (which has been...
Confirmation:- - Rejection from Support Area - Rejection from Trendline Support
BTC has been trading relatively bullish over the last few days. However, it seems that BTC is encountering heavy resistance at the intersection of the blue and purple resistance lines. I've been bearish in my last few analyses, and I will stay like that in the short-term, unless we manage to close the day above the blue resistance. For now, bears are still...
Following yesterday's green stock market reaction, we compare on today's analysis VIX (Volatility Index) to the S&P500 (SPX) price action on the 1D time-frame. Our goal is to find clues to how the Volatility Index can affect the stocks. As you can see, VIX is trading within an Ascending Triangle which 2 days ago got rejected on its top (Higher Highs) trend-line....
It's quite interesting because there's a gap that hasn't been recharged yet!!! In theory, it should recharge, but I don't think it will happen now; we will go down first, and then the recharge might come later. So, be cautious with the entry. Those with less money should wait for the recharge and only then get in."
SP500 is at first major support based on several evidences from technical point of view and from Elliott wave perspective. SP500 is making nice and clean A-B-C correction as we have been warning about in past updates. Below are some of the important key points for a potential bounce on stocks in next few weeks. End of Q3 Normally end of the quarter are...
In my last couple of BTC analysis I've had a fairly bearish outlook on Bitcoin's price action. See below: Seeing that BTC is currently experiencing a strong surge in price, I'm willing to look at the market with a more bullish perspective if BTC manages to break through the top purple resistance. For now, I'm anticipating a rejection from said resistance...
JPMorgan Chase - 30d expiry - We look to Buy at 150.35 (stop at 146.75) The primary trend remains bullish. A Doji style candle has been posted from the base. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Daily signals are bullish. A break of the recent high at 150.25 should result in a further move...
Hello,Traders! APPLE broke the key Horizontal level of 173.5$ Which is now a resistance And is now retesting it From beneath so I think That we will see a Local move down Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Posting the SP:SPX chart again. Edits: Added the yellow circles. Added new blue dotted line. IMO there's a good chance we could see something like what happened late 2021 to early 2022. We'll likely get some volatility here. Weekly RSI looks in the same area. AMEX:SPY AMEX:SPXL AMEX:SPXS
Microsoft is pulling down on a Channel Down. Having failed to hold the 1.5 Fibonacci Channel level, it technically seeks the lower 1.0 level, which is where the MA200 (1d) currently is. Trading Plan: 1. Buy on the MA200 (1d). 2. If it closes a (1d) candle under the MA200 (1d), then buy only after the first sign of an RSI bullish divergence. Targets: 1. & 2....
Apple / AAPL is completing the 2nd Low of the Bull Flag pattern started on its All Time High. So far that represents a -15% fall. It has almost hit the 1day MA200 today and the more powerfull (on a Cycle perspective) 1week MA50 is just under it. Considering that the market recovery and bottom started on the Head of an Inverse Head and Shoulder's pattern which...
Spring Backtest of old support after FAKE breakdown. Along with three rising inverse valleys. This is a textbook play with a tight SL below the third valley and support.
Palantir is trading sideways the past 6 weeks keeping the 1D technical outlook neutral (RSI = 47.834, MACD = -0.450, ADX = 41.012). It held once again the S1 Zone and this is certainly bullish for the short term especially en route to the R1 Zone, but unless invalidated, this is the formation of the RS of the the Head and Shoulders pattern. Having crossed under...