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S&P 500 Daily Chart Analysis For Week of Nov 1, 2024Technical Analysis and Outlook: During the current trading session, the S&P 500 index exhibited considerable weakness by completing the Inner Index Dip at 5733, in conjunction with the Mean Support level of 5798, while leaving the gap by not reaching the secondary Mean Support level of 5700. This development of fulfilling the gap will likely stimulate a significant rebound toward the Mean Resistance level of 5775, with the possibility of further extension. The 5700 support level is critical for facilitating a primary recovery and advancing into the subsequent phase of the bullish trend. However, it is imperative to acknowledge that achieving and penetrating the 5700 level could instigate a downward spiral in price action to Mean Sup 5620.
SP:SPX
by TradeSelecter
SWING IDEA - CAR TRADE TECHCarTrade Tech is showing a promising swing trade setup based on the following key technical signals. Reasons are listed below : Break of Cup and Handle Pattern : The price is attempting to break out of a classic cup and handle pattern, which is a strong bullish continuation signal. 950 Zone Tested Multiple Times : The 950 zone has been tested repeatedly, indicating it is a strong resistance level. A breakout above this level could result in further upward momentum. VCP Pattern in Uptrend : A Volatility Contraction Pattern (VCP) is forming, which suggests tightening price action and may lead to a breakout if volatility decreases and buying pressure increases. Bullish Engulfing Candle on Weekly Timeframe : A bullish engulfing candle on the weekly chart reinforces the potential for an upward move, showing strong buying interest. Increase in Volumes : A noticeable spike in volumes supports the bullish sentiment and confirms that market participants are actively involved in this move. Higher Lows : The lows are consistently shifting higher, indicating sustained buying pressure and upward momentum. Target - 1110 // 1210 // 1400 Stoploss - weekly close below 750 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:CARTRADELong
by Visionary_Growth_Insights
2
Apple(AAPL): Down 7% – Is This the Opportunity We’ve Waited For?Apple’s stock has experienced a 7% decline over the past 10 days. What’s behind this drop? The fall came despite Apple slightly beating analysts’ expectations for the September quarter, driven mainly by a rebound in iPhone sales. During the fourth-quarter earnings call, CEO Tim Cook discussed positive developments in China but declined to speculate on economic stimulus impacts, noting stable year-over-year performance, partially aided by favorable foreign exchange rates. From a technical analysis perspective, everything is lining up perfectly. Our limit order remains unchanged. The formation of an exact double top points to the possibility of a flat pattern, which typically leads to a double bottom. This anticipated double bottom would align with the volume profile’s range high, offering additional support to key Fibonacci levels. Our stop-loss placement is secure, positioned below the support zone and the Point of Control (POC). We’ve set a time horizon for the wave ((ii)) to complete, and we believe this setup could result in a promising swing long position heading into Q1 or Q2 of 2025. If the chart develops as we hope, there may even be an opportunity to open a short position to hedge our long exposure. Until then, we’re prepared for another potential 12% drop, waiting patiently to execute our plan.
NASDAQ:AAPLLong
by freeguy_by_wmc
3
Intel (INTC): Patience is key while the market is rangingNothing significant has changed on NASDAQ:INTC since our last analysis. It appears that Intel may have found a bottom at the 88.2% Fibonacci level, but the stock has remained in a range since then. Unless the resistance level above is reclaimed, we wouldn’t be surprised to see continued ranging behavior. Even Intel’s latest earnings report didn’t create much movement. Despite posting a considerable net loss due to impairment and restructuring charges, Intel projected fourth-quarter revenue above estimates. As one of the largest producers of PC chips, Intel has recently benefited from renewed demand for PCs, driven by on-device AI features and a fresh Windows update cycle. These factors allowed Intel to exceed Wall Street’s low expectations, but not enough to break the current range. We’ll continue to monitor NASDAQ:INTC , but as it stands, trying to long it into the overhead resistance doesn’t make sense from our perspective. Patience is often the best strategy in such uncertain market conditions.
NASDAQ:INTC
by freeguy_by_wmc
1
Super Micro Computer (SMCI): Strong Entry After Stock SplitSo far, we’re seeing a strong entry on NASDAQ:SMCI following the 1:10 stock split at the beginning of October. The stock has experienced a relief pump of about 20%, which is a solid move in the right direction. 🔥 Super Micro Computer announced on Monday that it’s currently shipping over 100,000 graphics processors per quarter. Additionally, the company introduced a new suite of liquid cooling products, which further fueled its shares, pushing them up 14% after weeks of slumping. If these gains hold, Super Micro is on track to add more than $3 billion to its market value. At this point, the first resistance level has been met, and we are closely monitoring how the stock reacts. If NASDAQ:SMCI can reclaim and stay above this level, it will likely move toward the next resistance area, offering more potential for upside. As always, we’re keeping a close eye on developments and will update you with any new moves.
NASDAQ:SMCILong
by freeguy_by_wmc
3
Amazon - The +150% All Time High Breakout!Amazon ( NASDAQ:AMZN ) is hugging the previous all time high: Click chart above to see the detailed analysis👆🏻 Amazon has been moving sideways for almost four years, consolidating between support and the previous all time high. After retesting the resistance over and over again, it is just a matter of time until Amazon will break the previous all time high and start its next major bullish cycle. Levels to watch: $190, $500 Keep your long term vision, Philip (BasicTrading)
NASDAQ:AMZNLong
by basictradingtv
9
Sensex Support and Resistance Levels for Better Trading DecisiI’ve created a chart highlighting the key support and resistance levels for Sensex, designed to help traders make informed decisions. These levels provide critical insights for understanding potential price movements, enabling traders to identify ideal entry and exit points. Use these levels to gain a clearer perspective on Sensex trends and optimize your trades with greater confidence. Remember, these levels serve as guidance, so always combine them with your own analysis and risk management.
BSE:SENSEXLong
by Prabhu2020
AMD Can it survive this horrific week?On August 13 (see chart below) we called the start of the new long-term Bullish Leg on Advanced Micro Devices (AMD), as a week before it entered the 2-year Higher Lows Zone and rebounded: Still, the road (green Channel Up) isn't without its hurdles, and one of them is this week where the price is again being brutally sold towards the Higher Lows Zone. Notice that during the previous 2-week correction (August 26 - September 03 1W candles), the Zone's top was tested and held. As a result, the multi-year trend remains bullish and will be this way for as long as the Higher Lows Zone holds. It is interesting to observe at this point that the Bearish Phase of this pattern (March 04 - August 05) was in the shape of a Bearish Megaphone and can be compared to the one that bottomed on October 10 2022 and practically started the new Bull Cycle. Notice also that so far each Bullish Leg (green Channel Up) rose by +141.87%. Within this comparison, and if we plot the Fibonacci levels from the Leg's bottom to top, we can see that the first Bullish Leg also had a rejection on the 0.618 Fib level and pull-back below the 0.786 into the Higher Lows Zone. Obviously the current correction isn't ideal but it is not something we haven't seen and is within the tolerance levels of this 2-year pattern. We expect another +141.87% rally to be concluded on this Bullish Leg, so our Target is straight up $295.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:AMDLong
by TradingShot
META on a new expansion wave to $800.Meta Platforms / META is pulling back again to test the 1day MA50, which has been holding since September 11th. The pattern is quite similar to the January 2nd 2024 pull back, a bullish break out that also took place after a prolonged consolidation pattern. The 1week RSI patterns between the two are also fairly similar. As long as the 1day MA50 holds, we expect META to stay on this expansion wave. Target $800 which is a +93.92% rise from the bottom, the rise that formed the previosu peak (April 8th 2024). Previous chart: Follow us, like the idea and leave a comment below!!
NASDAQ:METALong
by TheCryptagon
Marathon Digital Holdings (MARA) AnalysisCompany Overview: Marathon Digital Holdings NASDAQ:MARA is a key player in the cryptocurrency mining sector, particularly focused on Bitcoin production. The company has shown resilience and operational strength in its mining activities, making it well-positioned for future growth. Key Developments: Positive Analyst Ratings: Analysts from Macquarie and Cantor Fitzgerald have set price targets above $20, indicating strong growth potential for Marathon Digital. This reflects growing confidence in the company's operational and market strategies. Increased Bitcoin Production: In September 2024, Marathon reported a 5% increase in Bitcoin production, reinforcing its operational strength. Additionally, the company achieved a 28% increase in Q1 2024 production, yielding 2,811 BTC compared to the same quarter in 2023. This efficiency in production underlines Marathon’s capacity to scale effectively in a competitive market. Favorable Cryptocurrency Market: With Bitcoin recently surpassing $67,000, the broader cryptocurrency market is showing favorable conditions. This surge allows MARA to capitalize on increased investor interest in crypto stocks, positioning the company for substantial market gains. Investment Outlook: Bullish Outlook: We are bullish on MARA above the $16.00-$17.00 range, driven by the company’s production efficiency and favorable market conditions. Upside Potential: Our target for Marathon Digital is set at $32.00-$33.00, supported by positive analyst sentiment and operational achievements. 🚀 MARA—Mining for Tomorrow's Success! #Cryptocurrency #BitcoinMining #GrowthPotential
NASDAQ:MARALong
by Richtv_official
NVDIA Don't miss this opportunity. Can even reach $240.NVDIA (NVDA) gave us the most solid buy entry back on our August 08 signal (see chart below), following a -35% decline: Such declines are standard technical buy opportunities especially when taken place at the bottom (Higher Lows trend-line) of the 2-year Channel Up (since October 2022). As you can see, the stock made new All Time Highs (ATH) and as it remains below the middle of the Channel, the upwards potential is significant. As long as the 1D MA200 (orange trend-line) supports, we remain bullish on our original long-term Target ($190.00) but now we feel confident to target by the start of 2025 the upper layer of the pattern, setting Target 2 at $240.00 (Fibonacci extension 3.0). Note also that, as mentioned on our previous analysis, the current Bullish Leg continues to look very similar to the one that bottomed on October 2022. This is also evident on their 1D RSI fractals. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:NVDALong
by TradingShot
2
Amd - Break, Retest And New All Time Highs!Amd ( NASDAQ:AMD ) is about to start another +100% rally: Click chart above to see the detailed analysis👆🏻 Amd just retested and rejected a major previous horizontal structure and is starting the next major bullish wave towards the upside. Looking at previous cycles and the rising channel pattern, it is quite likely that Amd will follow Nvidia and create new all time highs soon. Levels to watch: $130, $270 Keep your long term vision, Philip (BasicTrading)
NASDAQ:AMDLong
by basictradingtv
4
COINBASE Can it recover from yet another earnings miss?Coinbase / COIN reported today earnings that missed their estimates (EPS at 0.28 against 0.45 and Revenue at 1.2B against 1.25B) and dropped more than -5% in after hours trading. This is the second seccessive earnings miss for the company. Despite yet another misfire, we believe the exchange can recovery from it, purely from a technical standpoint. Since the January 2023 bottom, it has maintained a Channel Up. During that pattern, every 1week MACD Bullish Cross formation was a strong buy opportunity, signaling the start of a bullish leg. By the end of this week, the 1week MACD should complete a Bullish Cross. As the price held the Rising Support and is climbing, we see no reason that can alter the new bullish leg. The shortest bullish leg on this Channel Up was +146.79% and another such 'bad case scenario' will almost test Resistance A. Our target is just under it at 360.00. Follow us, like the idea and leave a comment below!!
NASDAQ:COINLong
by TheCryptagon
SMCI Is it a buy after -35% dip and the leave of their auditors?Super Micro Computer is oversold on all timeframes and is approaching that level even on 1W (RSI = 35.160, MACD = -7.190, ADX = 44.214). The reason for the -35% daily collapse is of course the resignation of their auditors, Ernst & Young, which have raised concerns over SMCI's governance since late July. News have even hit the market that there are fears of delisting. Now fundamentally, even though the street has seen its fair share of accounting frauds in the past, those make up only a tiny minority. Normally when such pessimistic news hit the market, long term investors should be viewing the dynamics objectively. Is it worth buying despite all the negatives? A quick answer can be given by just looking at the technicals. Any high cap stock that falls roughly -75% from its All Time High (ATH) is objectively a great long term investment opportunity. For SMCI in particularly it has almost lost -75% of its value in 8 months, with the company absorbing almost any negative news there could be out there. The price is right now at $33.00 with its 1W MA200 currently sitting at $22.95 (and rising), which is the long term support since April 20th 2020. Before that trendline, there is the HL 2 to consider that started on July 5th 2022. In the meantime, the 1W RSI is testing sideways the S1 Zone, a buy level that is holding since July 2015. It has to be said that the -75% decline is SMCI strongest within such period of time, with the most recent before it being during the U.S.-China trade wars (October 1st 2018 at -68.30%). That collapse recovered in 6 months as it reached its 0.786 Fibonacci level. If SMCI announces soon their new auditing firm and calm the market about their practices, there is a strong probability to see the price testing the current 0.786 Fib (TP = 90.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:SMCI
by InvestingScope
1