AT&T strong bullish expectations here
AT&T zone breaked, in last periods bearish market, now what we can expect is change in this market,- strong indications for bullish continuation.
TP1: 25
TP2: 28
Stocks
The Rally May Run Out of SteamFundamental Background
According to CNBC, analysts at Morgan Stanley have conducted a study on how the tariff plans announced by Donald Trump during his campaign might affect the U.S. economy and the stock market.
Among the initiatives of the president-elect:
Implementing a general tariff of 10% to 20% on all imported goods;
Introducing additional tariffs of 60% to 100% on goods imported from China.
According to Seth Carpenter, the chief global economist at Morgan Stanley, such plans:
May eliminate the possibility of interest rate cuts in 2025 and also limit economic growth;
Threaten to reduce U.S. economic growth by 2026;
Will lead to increased inflation;
Will put pressure on the automotive industry, consumer electronics, machinery, construction, and retail sectors. It is expected that the costs to manufacturers will be passed on to consumers.
Consequently, this implies a negative outlook for the U.S. stock market as there is a high likelihood that the tariffs will reduce investment attractiveness and increase the cost of borrowing for companies, negatively impacting the stock market.
Technical Analysis
In 2024, the price formed a broad ascending channel (shown in blue);
Throughout October, the price was "magnetized" to the median line and formed a narrower channel between the Resistance and Support lines;
Against the backdrop of the presidential elections, the price surged to a peak on November 11th, but then returned to the median line.
The line around 20,941 level briefly acted as support, but the price failed to sustain above it. Could the bears' attempt to break away from the median line's pull be more successful?
Cyclical Analysis
Cyclical Chart Predicts a Decline in the Nasdaq Index
Conclusions
While the chart currently shows no clear signs of bearish activity, the facts presented above suggest that the vigorous bull market observed throughout 2024 may run out of steam.
SOFI expect short term rally to continue as 9 swingsSOFI favoring upside within the sequence started from August-2024 low and expect small upside to finish the (3) started from 10-September-2024 low before it should pullback in (4). The next pullback in (4) can provide buying opportunity for final push higher before it should correct big against August-2024 low.
Nightly $SPX / $SPY Predictions for 11.20.2024🔮
⏰10:30am
Crude Oil Inventories
#trading #stock #stockmarket #today #daytrading #swingtrading #charting #investing
$VRT Head and Shoulders Failure Signal Note: I am LONG NYSE:VRT
A Head and Shoulders failure pattern occurs when prices break below the neckline, suggesting a potential reversal to an up-trend; however, the move lower does not gain traction. Instead, prices drift higher until trading above the previously defined Right Shoulder high.
My long entry triggers when price > right shoulder high, which invalidates the bearish setup, and signals a continuation of the up-trend as trapped short sellers are forced to cover. Often times, this amplifies the momentum in the move higher.
Past performance is not indicative of future results. Opinions are not positions, and vice versa.
$CDLXFound a potential "abc" wave pattern we could be in currently. I know the recent 5 wave impulse broke a rule between 2-3 probably, however, if pattern holds true and volume confirms, we may get the "abc" pattern fulfilled taking a retracement towards the 26.59 target on the "c" leg.
$RKTLooks like we are near the end of an impulse wave to the downside. Looking for an "abc" correction to the upside. Maybe price can reach the $14.32 target at some point.
QUALCOMM (QCOM): Diversified Growth Amid DowntrendQualcomm ( NASDAQ:QCOM ) presents an intriguing setup as we believe the wave I and a larger cycle might have concluded. Following its peak, NASDAQ:QCOM has dropped nearly 30%, retracing back to the range high. To finalize wave (A), we expect an additional leg down to complete the intra 5-wave structure. The likely target lies between $143 and $133, a range that aligns well with the Point of Control (POC) from March 2020 to now. This adds confluence to its significance as a potential support zone.
Despite the technical setup, we caution that the risk for a long position remains high. A more favorable entry could arise once NASDAQ:QCOM reclaims the range, validating the start of a potential bullish wave.
For the current quarter, Qualcomm projects revenues between $10.5 billion and $11.3 billion, with automotive sales anticipated to rise 50% year over year. CEO Cristiano Amon’s strategy to diversify Qualcomm beyond smartphones into chips for PCs, cars, and industrial machines underscores the company’s adaptability.
The next financial results release is scheduled for January 29, 2025, offering further insights into Qualcomm’s trajectory.
The $143-$133 range is a key zone for potential support, bolstered by its alignment with the POC. A decisive break below this zone could invalidate the bullish outlook, while a breakout above the range high may provide an opportunity to long this stock with lower risk. The completion of wave (A) would ideally coincide with a structural turnaround.
We are closely monitoring NASDAQ:QCOM for any signs of a reversal. Should the stock confirm a reclaim of the range, we may consider initiating a long position with a more precise stop-loss strategy. Until then, patience and vigilance are essential.
$CLFPotential "abc" pattern spotted. Price seems to be losing gas on the down side as of late. Looking for a bounce in this support zone. Looking for a retracement up to 11.96 minimum.
$COGTLocated a potential "abc" wave after a 5 wave impulse. Price also near a support level. Looking for bullish volume to help price retrace to 9.74.
ayPal (PYPL): New Features and Market ImpactPayPal ( NASDAQ:PYPL ) is currently up 44% from our initial entry, demonstrating strong performance within a developing trend channel. While not entirely symmetrical, the addition of a smaller trend channel on the upper side showcases nearly perfect alignment, highlighting this stock’s potential for growth.
Last Thursday, PayPal announced a new feature allowing customers to collect money from friends and family for shared expenses, available in the US, Germany, Italy, and Spain. While innovative, this announcement led to a 4% dip in PayPal’s stock, likely due to profit-taking by investors.
From a technical standpoint, we expect a three-wave correction to finalize wave (iv). Currently, the key support zone lies at the 38.2% Fibonacci retracement level near $76, which aligns with the last level before a low-volume node. If this support fails, the 50% Fibonacci level becomes the next likely target. However, NASDAQ:PYPL should avoid prolonged trading below wave (i)’s range of $70 to maintain its bullish structure.
SMCI AnalysisAt this stage, fundamentals take precedence when analyzing SMCI. While the chart reveals a clear Fibonacci retracement at the current price level (~$28), this also aligns with a strong resistance zone. Historically, such levels represent pivotal decision points for the market, and breaking through this level will require substantial momentum backed by positive fundamental developments about the company.
Recently, we saw a price spike after SMCI announced the appointment of a new auditor (BDO USA) and confirmed that it had filed the necessary compliance reports to meet Nasdaq requirements. This was a major step for the company, signaling its commitment to rebuilding trust and stability. From this point onward, good news is the only way forward if SMCI aims to achieve a strong stock price recovery.
The current price action reflects the significance of this area, with the stock potentially finding a base here. If upcoming news or developments favor the company, this resistance could be breached with strong bullish momentum. A breakthrough could trigger a rapid upward move, presenting a substantial opportunity to reach the $45 level—a key target that aligns with the next Fibonacci zone and historical price action.
In conclusion, while technicals suggest this is a critical point, the fundamentals will ultimately dictate the direction. Investors should stay alert for further updates, as the upside potential towards $45 is significant if the company continues to deliver positive news.
NIVIDIA, Bullish ExpectationsNVDA tested the O.T.E and the next price target is the daily pivot point.
AMD: Final shot to rise in this Channel. $290 if successful.Advanced Micro Devices are bearish on the 1D timeframe (RSI = 38.717, MACD = -4.560, ADX = 33.691) but just under neutrality on the 1W technical outlook (RSI = 43.494, MACD = -3.840, ADX = 18.724). This indicates that this is the final support long term to reverse the medium term bearish sentiment and this is quite evident on this chart where the price is at the bottom of the 2 year Channel Up.
Roughly every November inside this Channel (2022, 2023 and 2024), it is on a corrective wave (or has been the month before), so the symmetric structure on this pattern is very strong. Another reason to see a massive bullish wave next. The previous two peaked approximately 160 days after that low, completing a +141.24% rally from the HL. Consequently, we are aiming for a similar rally (TP = 290.00) by late April 2025.
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Microstrategy #MSTR might have a double left versus BitcoinCup handle
with linear and log targets provided
simple and clear chart
MSTR topped before btc last cycle interesting to note right!
Tesla - New All Time Highs With Trump!Tesla ( NASDAQ:TSLA ) just broke above the last resistance level:
Click chart above to see the detailed analysis👆🏻
With Trump winning the election and Elon Musk being a supporter of Trump, Tesla is rallying significantly. But looking at market structure, this rally was also expected, considering that Tesla just broke out of a triangle pattern. Now Tesla will soon create new all time highs.
Levels to watch: $275, $410
Keep your long term vision,
Philip (BasicTrading)
