PALANTIR Correction starting. Short or wait to buy on that levelPalantir Technologies (PLTR) have been trading within a Channel Up since the May 04 2023 Low. Last week the price reached the pattern's top (Higher Highs trend-line) and technically we expect that to be the end of the recent Bullish Leg, as also indicated by the Sine Waves.
Naturally we anticipate a medium-term pull-back in the form of a Bearish Leg. The previous 3 Bearish Legs have been under the form of Lower Highs that broke below the 1D MA50 (blue trend-line) and hit at least the 1D MA100 (green trend-line) before rebounding again into a new Bullish Leg.
As a result, we expect to see at least a test of the 1D MA100, which short sellers can target $26.00. This is also above the minimum %correction we've seen inside this pattern (-25.90%).
The strongest buy signal inside this long-term Channel Up is historically give when the 1D RSI hits the 35.85 - 30.20 Support Zone.
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Stocks
Teva Pharmaceuticals (TEVA) Analysis Company Overview: Teva Pharmaceuticals, a global leader in generics and specialty medicines, is poised for growth as it expands its biosimilar portfolio and resolves major legal challenges.
Key Catalysts:
Biosimilar Launch: NYSE:TEVA plans to launch AVT04, a biosimilar to Johnson & Johnson's blockbuster drug Stelara, by February 2025. Stelara, which generates $10 billion in annual sales, presents a significant market opportunity for Teva as a lower-cost alternative. This biosimilar could drive substantial revenue growth for the company.
Opioid Settlement: The resolution of the $4.3 billion opioid settlement reduces legal uncertainty and allows Teva to focus on business expansion. This development provides a clearer path forward for the company’s financial health.
Operational Improvements: With improved supply chains and enhanced gross margins, Teva is positioned to strengthen profitability. This operational efficiency will be crucial in boosting the company's bottom line as it rolls out new products.
Investment Outlook: Bullish Outlook: We are bullish on TEVA if it holds above the $15.50-$16.00 range. Upside Potential: The upside target for Teva Pharmaceuticals is set at $23.00-$24.00, driven by the upcoming biosimilar launch, legal clarity, and improved operational performance.
💊 Teva Pharmaceuticals—biosimilar potential and legal resolution set to unlock growth! #TEVA #Pharma 🚀📈
Revolve Group (RVLV) AnalysisCompany Overview: Revolve Group, a leading online fashion retailer catering to younger customers, continues to stand out by leveraging AI for personalized shopping experiences and maintaining premium pricing strategies. The company’s ability to integrate technology into its operations provides a competitive advantage in the e-commerce fashion space.
Key Highlights:
Q2 Performance: Co-CEO Mike Karanikolas emphasized Revolve’s strong Q2 performance, driven by improved marketing and logistics. Notably, the company also achieved a reduction in return rates, marking the first decrease in over three years—a significant accomplishment for an online retailer.
Customer Growth: Revolve's active customers increased by 9% year-over-year, with total orders rising by 3%. This demonstrates strong customer engagement and brand loyalty, vital metrics for sustained growth.
Competitive Edge: Revolve’s ability to balance personalized offerings with premium pricing, supported by AI, enhances its appeal to fashion-conscious consumers and bolsters its market positioning.
Investment Outlook: Bullish Outlook: We are bullish on NYSE:RVLV if it holds above the $20.00-$21.00 range. Upside Potential: The upside target for Revolve Group is set at $33.00-$34.00, driven by strong customer engagement, effective cost management, and the company's innovative use of AI.
👗 Revolve Group—leading fashion e-commerce with AI innovation and strong customer growth! #RVLV #FashionTech 🚀📈
TRGP - Expecting short term extension since August lowTRGP favors short term upside within sequence started from 5-August-2024 low to finish the daily sequence started from July-2022 low before it should see larger corrective pullback, which can be used as buying opportunity.
Barrick Gold Corporation, may become strongerAfter the possibility of the FED cutting interest rates, there is a opportunity to gold achieve new records, and this will be beneficial for Barrick.
Barrick Gold, reported EPS and Revenue above the expectations.
The target will be $26
VISA Best buy opportunity since 2022.Visa Inc (V) is trading again above its 1W MA50 (blue trend-line) for the 3rd straight week following the rebound on early August's Low. That low apart from a Double Bottom is also a technical Higher Low formed at the bottom of the 2-year Channel Up.
The previous Double Bottom in October 2023 was exactly on the 1W MA50 and even though not at the bottom of the Channel Up, it did manage to kickstart a +27.36% rally. The Bullish Leg before it rose by +34.04% before also correcting back to the 1W MA50.
With the 1W MACD about to form the first Bullish Cross in 9 months, we have at hand the best buy opportunity on Visa, whose last 1W MACD this low was back on the September 2022 bottom! Our Target for the end of the year is $320.00 (+27.36%).
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Knock Knock. Who's There? Vibecession Ft. US Interest RatesHello Everyone,
IMPORTANT: ALL FED POLICIES LEAD TO NEGATIVE OUTCOMES
TLDR AT THE END
In February 2022 the Federal Reserve gave us the fastest rate raising campaign in history to try and combat very high inflation, but they were very late in raising rates causing one of the worst inflation in 40 years. During his speech at Jackson Hole he confirms rate cuts in September due to inflation being under control and the labor market "cooling." Good news is inflation is under control, however this is only the start of our labor market "cooling."
Jerome Powell is extremely late in cutting rates and will be cutting rates because we are getting BAD economic data and the cracks are showing in our labor market, commercial real estate, and banking sectors.
The Federal Reserve 100% KNOWS a recession is coming that is why they are cutting rates. We have Jerome Powell come up on stage sweet talk to us about a soft landing, inflation under control, and how he will cut rates to help the labor market. He's not going to be instilling fear in Americans as a chairman.
Just Remember, ALL FED POLICIES LEAD TO NEGATIVE OUTCOMES. Recession is coming, Sahm rule and inverted yield curve hasn't been wrong and it won't be wrong this time. This time it's not different.
TLDR: Jerome Powell is too late in cutting rates causing a recession
Nas100 - End Of August - Switch up or continue??Hello Traders of the world..
bless up to the new Support 👌
Notes
- Big figure 19,120 hit yesterday.
- We respecting previous daily highs, breaking lows.
- Red folder news today @08:30am - GDP.
Bias for now i am neutral, we had a great bearish week. Heres some interesting facts, the US GDP growth rate is mostly higher in Q2 vs Q1 of the new financial year. GO CHECK, dont be lazy.
With the current forecast set @ 2,8% we should see a rally happen if results are positive. Vice versa for lower results.
Current PA
- We made a GAP pre asia session (POI)
- Price moving higher throughout asia & Uk session (generating liq)
- We have untouched equal highs that need some love. (Buyside)
- Respecting bullish FVG's currently.
maybe a pullback to PDL and expand higher or keep pushing to the moon.. we will have to wait and see
Trade Safe.. ✌🏽
Nasdaq - Nasdaq is waiting for the release of the GDP indexThe index is located between EMA200 and EMA50 in the 4H time frame and is trading below the level of 20,000
If the index continues to rise towards the specified supply zones, which also intersects with the weekly pivot of the index, we can look for sell positions in the Nasdaq index
How Will AeroVironment's $990M U.S. Army Contract Impact Its StoAeroVironment's stock surged after securing a $990 million U.S. Army contract for its Switchblade drones, boosting investor confidence. The deal, aimed at enhancing infantry capabilities, will run through 2029. Following the announcement, analysts from Baird and Alembic Global upgraded AeroVironment's rating, setting new price targets of $220 and $216 respectively. The Switchblade contract is expected to add significant revenue, providing strong visibility for the company's future growth.
SWING IDEA - IEXIndian Energy Exchange (IEX) is exhibiting promising technical signals that suggest a potential swing trade opportunity.
Reasons are listed below :
170 Zone as New Support : The 170 level was previously a resistance zone and has now turned into a support level, indicating strong buying interest.
Hammer Candle on Weekly Timeframe : The formation of a hammer candle on the weekly chart suggests a potential reversal, signaling a shift from a bearish to a bullish trend.
0.5 Fibonacci Support : The stock has found support at the 0.5 Fibonacci retracement level, indicating a potential bounce and continuation of the uptrend.
Trading Above 50 and 200 EMA on Weekly Timeframe : IEX is trading above the 50 and 200-week exponential moving averages, confirming the bullish sentiment and providing strong support levels.
Breaking Consolidation Phase of 2+ Years : The stock is breaking out of a long consolidation phase that lasted over two years, signaling the start of a new bullish trend.
Target - 205 // 245 // 300
Stoploss - weekly close below 155
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
SWING IDEA - WELSPUN LIVING Welspun Living , a leading company in the home textiles sector, is presenting a compelling swing trading opportunity based on several key technical indicators.
Reasons are listed below :
Head and Shoulder Pattern Breakout : The price has broken out of a head and shoulder pattern, indicating a bullish reversal and potential for further upward movement.
170 Resistance Zone Breakout : The 170 level was a significant resistance zone. The price has broken out above this level and is sustaining, indicating strong bullish momentum.
Bullish Marubozu Candle with a Strong Close : The recent formation of a bullish marubozu candle with a strong close signifies strong buying pressure and suggests potential for continued upward movement.
Breaking 3+ Years of Consolidation : The stock is breaking out of a long consolidation phase that lasted over three years, signaling the start of a new bullish trend.
Gradual Increase in Volumes : A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
Trading Above 50 and 200 EMA on Weekly Timeframe : The stock is finding support at both the 50-week and 200-week exponential moving averages (EMA), reinforcing the overall bullish sentiment and providing strong support levels.
Trading at All-Time High : The stock is trading at its all-time high, suggesting strong market confidence and potential for further gains.
Target - 200 // 250
Stoploss - weekly close below 145
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
PDD is a strong buy after misunderstood earningsPDD (Temu) shares have fallen over 30% after recent earnings implied they have missed their targets by a massive margin, and a cautious comment indicating there might be macro issues going ahead.
However, only revenue has missed targets - by only 3% - effectively meeting the markets sky-high expectations.
Looking at the actual releases, EPS is 2.97 in Q2 2024, which actually beat the expectation. The company is still experiencing massive growth - even while, as outlined in the meeting notes around supply chain streamlining, they have simply had some short term costs in this regard.
A 30% drop in share price is an extreme overreaction and I expect a quick and violent retrace once the market has cleared its head.
"Buy when there is blood on the streets" - especially without reason.
Disclaimer: This idea is not intended as investment advice and should not be interpreted as an offer to sell or a recommendation to purchase any asset. Any decisions made based on the information presented in this idea are the sole responsibility of the individual. All investment decisions should be made independently, taking into account your financial situation and objectives.
SNP500 / SPX🔍 SPX/USDT Analysis: Daily Timeframe 📉
SELL IT!
The SPX chart on a daily timeframe highlights significant upcoming dates where price movements may present trading opportunities. These should be analyzed in conjunction with higher timeframes for a comprehensive market view.
• September 3, 2024 - Red Line: This date marks a potential local peak. Traders might consider this as a moment to take profits or reduce exposure, as the price could encounter resistance or a downturn.
• December 6, 2024 - Red Line: This date is another potential local peak, signaling a possible moment to exit positions before a downturn.
When working with this daily timeframe, remember to evaluate these movements within the context of the broader market trend, considering higher timeframes for a more global perspective.
Note: The exact timing of these phases can vary by +/- a few days. All times are based on UTC-7 (Los Angeles).
Stock Surge Leaving Bitcoin Behind? Stock Surge Leaving Bitcoin Behind?
The longstanding correlation between the Nasdaq and Bitcoin took a hit today as the two markets diverged, signaling potential shifts in investor sentiment.
This breakdown could be a precursor to broader market volatility, particularly as Nvidia prepares to release its much-anticipated earnings report tomorrow.
Nvidia initially opened lower today but reversed course, closing up 1.6%. The stock has rallied nearly 10% in August, fueled by bullish commentary from customers who are continuing to invest heavily in data centers and Nvidia-based infrastructure. This optimism has set a high bar for tomorrow’s earnings.
Bitcoin, meanwhile, is trading at $62,000, about 25% above its lowest point this month. However, the cryptocurrency is potentially facing stiff resistance at $65,000. This struggle at a key technical level could be a signal of waning risk appetite.
The Federal Reserve’s potential rate cuts are also a double-edged sword for Bitcoin. While lower rates typically boost risk assets, there’s a growing concern that such a move could indicate deeper economic troubles ahead.
On the bullish side, Paul Christopher, head of global investment strategy at Wells Fargo, recently likened the current market environment to 1995, when the S&P 500 soared to 77 all-time highs. If history repeats itself, stocks could be on the cusp of a rally not seen in nearly three decades.
SMCI Short-term buy opportunity within its corrective Channel. Super Micro Computer Inc. (SMCI) has been trading within a Channel Down pattern since the March 08 2024 High. Even though the trend on a multi-year basis is bullish, short-term investors should have this pattern in mind.
Even on the shorter term though, the stock has managed to price a new Lower Low (August 08) at the bottom of the Channel Down and started its new Bullish Leg. Today's low opening has served as the first technical Higher Low on the Bullish Leg, potentially similar to the May 01 2024 Higher Low of that Channel Up.
The 1D MACD has already completed a Bullish Cross, as on May 06 and naturally the next Target is a Higher High above the 1D MA50 (blue trend-line) again. We are aiming for $750.00 short-term.
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PayPal Recovering 42% From Recent LowsStrategic partnerships between major companies like PayPal and Adyen are enhancing consumer convenience with their new project, Fastlane by PayPal. Aimed at revolutionizing the checkout process for U.S. enterprise and marketplace users, Fastlane combines PayPal and Adyen's technologies to streamline guest checkout, significantly reducing purchase completion time.
A key feature of Fastlane is its ability to remember users' payment and shipping details, facilitating quicker future transactions. According to PayPal's data from April to June 2024, Fastlane increased checkout conversion rates by over 80% and decreased checkout time by 32% compared to traditional methods, indicating a boost in customer satisfaction and retention.
Adyen, recognized for its extensive fintech solutions, is the first payment processor partnering in the Fastlane initiative, which supports PayPal’s goal of global expansion. The service now includes more payment options like Venmo and various Buy Now, Pay Later schemes, accessible worldwide through Adyen’s platform, enhancing payment flexibility.
The introduction of Fastlane might influence the financial sector and stock market, especially considering PayPal's stock recovery signs after a significant drop. Strategic developments such as Fastlane could be crucial for further growth as the stock challenges major resistance levels.
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See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
USB Stock Short All timeframes are massively overbought
There is a pattern on H4 and H1
This is a weekly high where there is a lot of resistance
Since it is against the trend I would normally not go for such a trade but stocks look like they need to come down so this could be a trade
tight stop loss and take profit when it hits the H4 trend as this is still very uptrend
Made 40% Profit on $SPY 1-Day Swing TradeFrom my thesis yesterday, AMEX:SPY was able to break out of it's bearish order block on the 1 Hour time frame and give us 40% profit overnight. AMEX:SPY
Enhancing Trading Proficiency: Top Educational ResourcesEnhancing Trading Proficiency: Top Educational Resources
Staying abreast of the ever-evolving market trends and honing trading techniques are critical aspects of becoming a successful trader. Luckily, a plethora of educational resources are readily available to aid traders in enhancing their skills and decision-making abilities. In this FXOpen article, we will discuss the best websites, books, online trading classes, and other information sources that can help traders succeed.
The Best Educational Resources for Traders
We recognise the importance of having a readily accessible knowledge base to find prompt answers to your trading queries. Below, we have curated a list of the most sought-after educational resources for traders, covering a diverse range of topics, from technical analysis to risk management.
1. Investopedia: A highly popular website that offers comprehensive learning materials suitable for traders at any experience level. Alongside trading, Investopedia delves into investing and personal finance, presenting a vast array of articles, tutorials, and videos.
2. TradingView: This social platform is a haven for traders, providing access to various trading tools, including charts of a wide range of financial instruments from different trading platforms, as well as technical analysis tools. Additionally, it hosts a vibrant community where traders can engage in discussions and share educational ideas.
3. ChartSchool: Specialising in technical analysis and charting, ChartSchool presents articles covering essential topics such as chart patterns, indicators, and other technical tools. If you harbour an interest in technical analysis, this resource furnishes all the necessary information to deepen your understanding of various instruments.
At FXOpen, we regularly update our blog with market analysis and educational articles for traders with any level of experience.
Top Trading Courses to Be Aware Of
Corporate Finance Institute: an online education platform that offers courses on finance, accounting, and investment banking. It provides in-depth knowledge and practical skills for traders. CFI’s courses cover topics like financial modelling, valuation, risk management, and portfolio management.
Babypips: a platform that provides one of the best stock trading courses for traders. Any online trading course from this platform for forex trading education will be of great help. Babypips offers a structured curriculum and interactive quizzes.
Coursera: an education platform that offers great trading courses. The courses taught by industry experts focus on financial markets, trading strategies, and risk management. Coursera trading courses are flexible, and there’s the possibility of self-study.
Udemy: an e-learning platform that allows instructors to create and publish online courses. With Udemy’s course development tools, instructors can upload various materials — videos, audio files, source code, and PDF files — to enhance their students’ learning experience.
Websites That Publish Economic News
In this section, we’ll explore the top websites that publish economic news and highlight their key features. Here is a list of them:
- Financial Times: a renowned news outlet. With a team of journalists, the Financial Times provides analysis and commentary on the latest economic events and trends. In addition to informative articles, the site offers market data.
- Fortune Magazine: a platform that publishes articles on business news and technology. The website features interviews with top executives and entrepreneurs and lists of top companies such as the Fortune 500. It’s a must-read for anyone looking to stay ahead in the world of business.
- Forbes Economy Market News: a well-known business and finance publication. The website has a special economic news section with articles about global financial markets. The site also provides tools like market data, stock quotes, and investment information.
- SEC Website: a website of the U.S. Securities and Exchange Commission. The SEC is dedicated to protecting investors, ensuring fair and efficient markets, and promoting capital formation. The SEC seeks to create a marketplace environment that is credible to the public.
- Yahoo Finance: a resource that helps traders effectively manage their investments and stay abreast of the latest market trends and news. The site provides current news, portfolio management tools, international market data, and social interaction — all designed to help readers manage their financial lives with ease.
Books by Famous Traders
In addition to articles and courses, we decided to gather a list of books that will be interesting to traders:
- The Market Wizards – Conversations with America’s Top Traders by Jack D. Schwager
- The Intelligent Investor by Benjamin Graham
- Technical Analysis of the Financial Markets by John J. Murphy
- The Psychology of Trading by Brett N. Steenbarger
- How to Trade In Stocks by Jesse Livermore
If you are ready to try your hand at the real market, you can open an FXOpen account and check out our TickTrader trading platform. Our blog will also help you make rational decisions when trading.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
SPX TOP History Repeats Itself AgainHello everyone,
We may be entering a very powerful recession. We get a good crash about every 100 years and history is repeating itself again. We went into the great depression during the 1929s and the stock market did not reach it's highs again for the next 37 years. We find ourselves in the same situations eerily similar to 1929.
Thoughts on $SPY for 8.26.24We filled the bearish order block. AMEX:SPY looks like it wants to go down from here from filling the bearish order block on the hourly time frame.
SentinelOne (S) AnalysisCompany Overview: SentinelOne is preparing to release its second-quarter fiscal 2025 results on August 27. The company, known for its cybersecurity solutions, is poised to deliver solid financial performance, driven by consistent growth and strong earnings surprises.
Key Highlights:
Revenue Expectations: SentinelOne NYSE:S anticipates total revenues of $197 million for Q2, aligning with the Zacks Consensus Estimate. This figure represents a significant 31.84% growth compared to the same quarter last year.
Earnings Performance: The consensus estimate for the company’s loss per share has remained steady at 1 cent, an improvement from the 8 cents per share loss reported in the year-ago period. This steady estimate reflects the company's efforts to improve profitability.
Historical Earnings Surprises: SentinelOne has a strong track record of exceeding earnings expectations, with an average earnings surprise of 64.79% over the past four quarters. This track record highlights the company's ability to outperform market forecasts consistently.
Technical Outlook: Given the company's strong performance history and the current technical setup, the stock is positioned well for potential growth.
Investment Outlook: Bullish Outlook: We are bullish on S if it holds above the $22.00-$22.75 range. Upside Potential: The upside target for SentinelOne is set at $27.00-$28.00, supported by the company’s robust growth prospects and positive earnings track record.
🏅 SentinelOne—poised for growth with strong earnings performance and bullish technicals! #S #Cybersecurity 🚀📈
