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AMC Analysis (30 Days) Daily CandlesThis is my analysis of AMC for the next few weeks. I am not experienced, and I have no financial background. But, I enjoy it and I would love any feedback you have for my charting/predictions. I think AMC is in a Bullish flag similar to the one we saw in February. Right before it spiked up to $30. The MACD just crossed over on the daily last Monday and she has been holding very strong all week. If AMC is in a Bull flag then we are looking at a very good week. If it bounces then I would expect AMC to test the 200 DMA and its next level of resistance at $20. My magic date for this is July 13th. I appreciate any thoughts!
NYSE:AMCLong
by Adventure_Joe
SPX Daily TA Neutral BullishSPX Daily neutral with a bullish bias. Recommended ratio: 52% SPX, 48% Cash. *Though we still need one more close above $3706 to confirm a short term bullish reversal, key support lines for other indicators are currently holding up and therefore lending a bullish bias to PA in the short term. JPow is scheduled to testify before Congress tomorrow at 9:30am (EST) and everyone will be listening for any hints of slowing down rate hikes or QT to further boost markets. PMI is scheduled to be released at 9:45am (EST) on 06/23 , if it comes in lower than last month's prepare for another drawdown.* Price is currently bouncing off of $3706.52 minor support as a technical relief rally is underway. Volume is Moderate and currently on track to favor buyers for a second consecutive session if it can close today in the green. Parabolic SAR flips bullish at $4017, this margin is mildly bullish. RSI is currently trending up at 39 and is currently testing 38.06 resistance after bouncing off of both uptrend lines from 01/27/22 and August 2015 (at 31) indicating that both uptrends are intact in the short term. Stochastic is currently crossing over bullish and is trending up at 10.82 as it prepares to test 18.32 resistance. MACD remains bearish and is currently forming a trough at -105 as it is still technically testing -76.22 minor support; it would need to break above -76.22 minor support to cross over bullish. ADX is currently trending sideways at 27 as Price is either in a correction or reversal, this is neutral at the moment; if ADX begins to trend down as Price continues up then it would be a bit bullish, but if ADX continues up as Price retreats it would be bearish. If Price is able to continue up here then the next likely target is a test of the lower trendline of the descending channel from August 2021 at ~$3900. However, if Price falls back down below $3706.52 minor support, it will likely retest $3508 minor support for the first time since November 2020. Mental Stop Loss: (two consecutive closes below) $3706.52.
SP:SPX
by dailytaguy
GameStop (GME) Falls At Heavy Resistance - Squeeze or Dump?Just posting this chart by request. I've been following GameStop for a while. Michael Burry bought a large position over the past year, yet price continued to head to new lows. Meanwhile, a trader I know made an observation of share price's reaction to major console releases. I was a bit skeptical of the bullish argument at first, but clearly it turned out to be correct in the medium term. I will explain why, a little further down. This chart shows some important trend lines. I'm using the monthly chart because GME has a relatively long price history, and the 50 Month MA (red) seems rather important. The trendlines in this chart I actually drew many months ago. One of them served as resistance on the recent move. If GME can head back up this week and sustain above that first teal trendline and the 50 month MA, there is the possibility of an enormous short squeeze. On the other hand, if price rolls back below the first red downtrend line, it can easily dump back to the lows. This isn't an attempt to predict where price will go next, but just to outline the structure of this stock. In the broader picture, video games have actually gone up in demand over the last year. With much of life being relegated to the home, entertainment has become even more vital. Retro games are also selling at much higher prices than before the pandemic. Especially if fiscal policy continues to favor a weakening dollar, we can see some fairly ridiculous price action on equities for a little while until an inevitable bubble pop. For GME, if price breaks and holds the $13-14 resistance again, we can see $29-30 fairly quickly. If it breaks above all my downtrends, it can even reach a new all-time-high, as ridiculous as that sounds. This is not financial advice! This is for education, entertainment, and speculation only. -Victor Cobra
NYSE:GME
by VictorCobra
13
AMZN Long (obviously)Price contracting nicely, respecting my levels so far. I bought in slightly early, but with a stop-loss tucked under the wedge nicely. I believe that with the national lockdowns more people will shop online, thus Amazon will pop to the upside. This ties in with Amazons continued growth, and respects the previous trend and chart pattern. All confluences to confirm my belief. The first target would be the top of the wedge $3500 - which is also a nice psychological level and a 5:1 risk reward ratio. I will be holding this position for a long time however, several years. Managing my SL accordingly
NASDAQ:AMZNLong
by MSI_JAL26
S&P 500 TP 1 + 2 + 3 ALL HIT !! SPX500 ALL 3 TP'S HIT ON S&P Trade made a great move, hit a couple of loser on the way before the sell took off. Let's see what happens ! OUR STRATEGY EXPLAINED: The entry price, SL and multiple TPs are shown on the chart. Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter. What is our strategy? Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term. The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc. This could be on your phone trading view app, or laptop of course. The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy... What does this mean? It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management. The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow. We just have to do what Percy does. Please see our related ideas below for more information to explain what we do and how it can help you.
OANDA:SPX500USDLong
by RossTyler
I Paper Traded these 8 Stocks since May 8th: $11.454K Profit SimFirst off, please don't take anything I say as financial advice or seriously. As always, this is on an opinion based basis. That being said, the stocks I paper traded off of a total of 10 trades with 11.45% profit off $100k simulated were: ETSY, TSLA, OSTK, DELL, NVDA, JD, NET, and FVRR. This was done to show I know how to also do a conservative trading strategy for holds rather than day trading or penny stock buy and sell, or other risky positions I am usually good at. That being said, I am not making a recommendation as of now on all of these stocks. Tesla I am pretty bullish on, as well as most of them, however the reason they did so decent is I was focusing on a Covid19 related time period. This is just a demonstration to show that you can still make good money while many markets are bearish. 100% of the simulated trades were profitable.
NASDAQ:ETSYShort
by gamer456148
Lesson in Internals - VIX and Advance Decline Signal Risk OFF The market has had a tremendous rally, but as traders we must realize that no rally can last forever, whilst i am bearish on the market over the longer-term (years), you simply cannot argue with the injection of liquidity from the Fed and the market lover Trump, doing everything he can to keep the market afloat. So in the next market pullback, i believe it will be time to buy the dip, that being said, the market internals are extremely overbought near-term, so much so, that if one were to buy at these levels, even a modest pullback could be quite uncomfortable to stomach. With the VIX at extremely low levels over the past few days and record short interest on the VIX, this is signaling a highly complacent market, coupled with a divergent advance decline line, this is telling us to be cautious. So yes, the market appears to be heading higher, but isn't it better to buy it on sale? Be patient.
SP:SPXShort
by Profit_Link