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The S&P 500 is Near our Profit Target!!Stocks have continued their ascent, and the S&P is just below our target of 4144. We should see resistance here but there is no denying that overall stocks are in bull mode. We have not seen a reasonable pull back since March. We are due for one, or at least a sideways correction at highs. There is a vacuum zone down to 4073, which seems unlikely at this point, but stocks are very good at punishing the exuberant. The Kovach OBV is still very strong, but its starting to look overbought.
FX:SPX500Long
by quantguy
1
GoodYear Tire & Rubber (NASDAQ: GT) Could Lift Upwards 🎈🎈🎈The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands. The company also retreads truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; sells chemical and natural rubber products; and provides automotive and commercial truck maintenance and repair services, and miscellaneous other products and services. It operates approximately 1,000 retail outlets, which offer products for retail sale, and provides repair and other services. The company sells its products worldwide through a network of independent dealers, regional distributors, retail outlets, and retailers. The company has strategic collaboration with ConMet to develop combined digital solutions that connect commercial truck fleets to the health of their tires and wheel ends; and a strategic relationship with UFODRIVE to pursue opportunities to integrate their complementary mobility solutions, including Goodyear's intelligent tire monitoring system and proactive solutions suite and UFODRIVE's advanced eMobility software as a service platform. The Goodyear Tire & Rubber Company was founded in 1898 and is headquartered in Akron, Ohio.
NASDAQ:GTLong
by RedHotStocks
$Fubo good news and technical situationFubo tv acquires Acquires Exclusive Streaming Rights for South American Qatar World Cup 2022 Qualifying Matches in plus the chart highling some important information that will lead the price to rise. The price is bouncing on the border ( see main chart) the orange area (good for entering at lower prices ) started on MTF pressure indicator ( the center chart ) the positive daily buyers pressure are incresing (chart below) I'm buying at this price.
NYSE:FUBOLong
by MarketMiracleAdvisor
Bullish level we observe on NIOToday we will continue with a series of posts we started on NIO; Our objective is to define clear filters on the stock and then trade if the price full-field our filters. First, let's take a look at the big picture: Here we can see 2 key structures: The ascending trendline and the support zone. Currently, those levels are converging, and the price is exactly there. From a technical perspective, we can conclude that we are in the best zone in terms of probable scenarios to find a reversal movement. Now, let's take a look at the main image (post image) We can see that the price made a clear formation (yellow lines) after breaking the descending trendline. The formation has been between those yellow lines for 25 days. On April's one, we saw a first breakout attempt on the structure. We are observing this small white flag pattern on the edge of the yellow one, and we think that the breakout of that pattern may be the trigger for the bullish movement we are expecting. Final Conclusion: We have an activation level of 41.08, meaning that if the price reaches that level, we will consider that our bullish view is ACTIVE. Our invalidation level is set below the structure and below the massive support zone at 36.49 (that will work as a stop loss level or as a cancelation level for the setup). Our first target is the next resistance zone at 46.00 (there, we will move our stop loss to the entry-level "RISK-FREE"). Our final target is 53.90 (there we will close our full setup) / The risk rewards ratio that this situation offers is 2.75 (that means that if we risk 1USD on this setup, we are aiming to make 2.75USD, If you have a 50% win rate then congratulations, you are profitable) Thanks for reading!
NYSE:NIO
by ThinkingAntsOk
Stocks Continue to Rally!!Stocks have continued their ascent, and our analysis remains the same. The general trend is clearly bullish but we are due for a technical retracement, or at least a sideways correction. It would be unwise to short at this point, as you do not want to get in the way of this. We are about half way between the nearest level of support at 4073 and our target of 4144, where we will definitely see some resistance. Use caution because as the S&P has rallied, it has created vacuum zones below and a significant pullback could take us back to 4009.
FX:SPX500Long
by quantguy
Trading plan on ZOOMToday we will analyze zoom, and we will provide the setup we will be waiting for in case we observe a similar price action. Important items: a) The price has been on a Descending Wedge for 170 days (corrective pattern). b) Currently, the price is supported on an ascending trendline + Lower trendline of the Descending Wedge. c) If the price breaks the ascending trendline, we can expect more bearish pressure towards the next support zone at 235.00 d) If the price cannot break the ascending trendline, we want to wait for a breakout of the wedge pattern. After that, we will look for a throwback (retest of a broken zone) e) With all the previous conditions, we will trade above the throwback, and we will set our stop loss below it. The minimum risk-reward ratio we are looking at on this setup is 3.5 Thanks for reading!
NASDAQ:ZM
by ThinkingAntsOk
Stocks Inching HigherAfter ranging for a bit, stocks have inched higher to new highs. So far, 4073 is providing good support. Be careful of the broad vacuum zone that is forming below down to 4009. After such a large move, it is reasonable for stocks to continue to range or retrace a bit. However, in the current climate, it would be unwise to step in front of this freight train. We anticipate new highs sooner than later and 4144 is our next target. The Kovach OBV is strong, but appears to be leveling off.
FX:SPX500Long
by quantguy
1
Is Lowes Signaling An Overall Market Decline?Lowe's triggered my early-warning price reversal algorithm. The full accuracy when this occurs is detailed in the article at my website below. The RSI algorithm determines overbought and oversold levels. The algorithm signaled a SELL on April 6, 2021. Equities nearly always obey the signal and move down, but sometimes it may continue to move up first. This is interesting if the signal is accurate. We are heading into the summer months which would ultimately be profitable for the company. The stock could be in for another short-lived cool off which is most likely the case here. Most of my algorithms may point to a reversal but that reversal ends up reversing usually within 50 trading bars. While the current signal ultimately has the stock dropping, it could gain slightly first. Once the drop has occurred, there is no doubt Lowe's will be primed to retrace this drop. I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a percentage standpoint, that this stock has moved on the Daily chart after a SELL signal occurred. Therefore, this box represents 100% of previous movement upward before the stock finally moved downward. The smaller red box represents 50% of all historical movement upward, before the stock moved downward. The smaller box is more of a precise target for the potential top in this instance. The green boxes represent the same thing. In this instance, the smaller green box would be my projected target for the final bottom. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play). All statistics and the full analysis are available for free as always at the site below.
NYSE:LOWShort
by StockSignaler
Stocks Ranging at HighsThe S&P 500 is stubbornly clinging to highs. We saw a range day which was to be expected after blasting through highs. and establishing a point of control at about 4077. Our next target is 4144, and this comes from a Fibonacci extension. From here it could go either way. We could continue to range to solidify footing in this new price range, before breaking out higher. A retracement would also be healthy, which could take us to the 4040's, or worst case retrace the entire move back to 4009, since the move has formed a vaccum zone in this range. This seems unlikely, since there is strong momentum here as measured by the Kovach OBV. Dips should be considered buying opportunities and we may see our target reached by the end of the week.
FX:SPX500Long
by quantguy
6 Corrective Structures on ROKU. What can we learn?Today we bring a post about finding a similar situation to the current one in the past. Why is this useful? Because if we understand the resolution of a pattern that has already happened several times before, we can start using them to know what we want to wait for before trading. We are using a Logharitmic chart so we can see the same proportions of % bullish and bearish movements despite the nominal movement. What are the conclusions we have based on this? -We have 5 examples of situations where the price dropped between 25 - 40 days with durations between 28 - 60 days. - 3 of them provided bullish resolutions with great % gains after the breakout, 2 of them provided fake signals -If we create adequate filters, we can avoid at least one of the fake outs (like waiting for the breakout of the more external trendline of the correction and then looking for a small throwback on a lower timeframe) -The rawest scenario is one in which you trade all of these structures without waiting for confirmations. Using that idea, even if you had 2 stops, you could manage to take profits on the 3 scenarios with at least a 1:2 Risk Reward Ratio. Imagine developing setups with much more accuracy. We hope this type of information can help you develop your own study cases on this type of asset to project resolutions to what is happening right now. Thanks!
NASDAQ:ROKU
by ThinkingAntsOk
2
Is Take Two Overbought Too?In the case of TTWO, 6 of my algorithms signaled a SELL on April 6, 2021. Equities nearly always obey the signal and move down, but sometimes it may continue to move up first. I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a percentage standpoint, that this stock has moved on the 2 Hour chart after a SELL signal occurred. Therefore, this box represents 100% of previous movement upward before the stock finally moved downward. The smaller red box represents 50% of all historical movement upward, before the stock moved downward. The smaller box is more of a precise target for the potential top in this instance. The green boxes represent the same thing. In this instance, the smaller green box would be my projected target for the final bottom. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play). All statistics and the full analysis are available for free as always at the site below.
NASDAQ:TTWOShort
by StockSignaler
Aspen Technology Looks OverboughtIn the case of AZPN, 6 of my algorithms signaled a SELL on April 6, 2021. Equities nearly always obey the signal and move down, but sometimes it may continue to move up first. All algorithms in the current instance are signaling overbought. I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a percentage standpoint, that this stock has moved on the 2 Hour chart after a SELL signal occurred. Therefore, this box represents 100% of previous movement upward before the stock finally moved downward. The smaller red box represents 50% of all historical movement upward, before the stock moved downward. The smaller box is more of a precise target for the potential top in this instance. The green boxes represent the same thing. In this instance, the smaller green box would be my projected target for the final bottom. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play). All statistics and the full analysis are available for free as always at the site below.
NASDAQ:AZPNShort
by StockSignaler
MDT price target raised to 133; pent-up demand provides tailwindMDT price target was just upgraded to $133 by Citi. I see it overshooting that in the long run. Elective surgeries have been put off and doctor visits have been down throughout the pandemic so the amount of pent-up demand for surgical/medical care is going to be through the roof. With an aging population, healthcare is a MUST as a sector to allocate to. MDT is an excellent way to play this sector. After periods of consolidation, MDT looks ready to head towards it's price target. My guess is it hits $150 before it reaches any significant resistance. In terms of fundamentals, their current ratio is 2.1020, meaning they could pay their current liabilities 2 times over if sh*t hit the fan and business came to a complete halt. Highly unlikely, but if it did happen, you would be sheltered for a period of time.
NYSE:MDTLong
by EBITDAtiger
2
Massive Structure on ADBEToday we will take a look at the current situation on ADBE. Key concepts: a) Flag Pattern: This type of formation is considered a continuation pattern, meaning that after the breakout, we tend to observe a movement in the same direction as the previous impulse b)Ascending Structure: using two trendlines, we can understand the upper and lower bands of any trend; when we have a breakout on any of the directions, we can use that to forecast possible movements on the breakout direction c)Fibo Extensions: We use them to forecast possible targets on a new impulse Final Conclusion: We have an activation level on the green line and an invalidation level on the red line; the final target is the 2nd fibo extension, and we will use the first one as a risk-free level. Thanks for reading!
NASDAQ:ADBE
by ThinkingAntsOk
4
Stocks All Time Highs!!Stocks broke out to all time highs! We sensed they were poised for this, and there were two options to trade: anticipate the breakout or wait for a dip to lower levels first. Those who were patient were rewarded with a slight dip to buy, and those who yolo'd had to hold underwater a bit. We are currently seeing resistance at this new high, and a red triangle on the Kovach Reversals Indicator marks some trouble at 4032. The Kovach OBV is strong, but rounding off suggesting we may range at these new levels.
FX:SPX500Long
by quantguy
Bitcoin has very bullish TA and even more bullish FAClean break of the old ATH and reclaimed that old support. Resistance turning into support providing a very clean setup. The total crypto market cap has been making new highs for days now, especially the Altcoin market cap leading the way. Banks are getting in, an ETF is coming and stocks are also back to going up and the USD might have topped for a bit. Even the current drop in bonds and rally in USD weren't able to kill the Risk on rally which is great. Clearly that's a simple target and my stop loss based on some pivots and indicators. Currently my lowest target is around 100-120k, then 150k and then I expect the top around 200-300k. So definitely too early to tell about anything right now. On the other side for now I think 54-55k would be the bottom if we get there.
BITSTAMP:BTCUSDLong
by BitcoinMacro
1
Breakout near for stocks??Stocks have regained highs. The S&P has just barely inched above highs at 3987, but is still having trouble with 4009. We are seeing some weakness at highs and there are two possibilities. First, we could see a retracement and continuation of that consolidation of volatility preceding the breakout. We could see a wedge or flag form. If so 3928 will be a good level of support. However, we could be gearing up for a breakout from current levels. So if you are a breakout trader pay attention to the momentum at open. We will need clear, definitive buying momentum in order to sustain a breakout. If we see ambivalence then a retracement is highly likely so watch lower levels for support.
FX:SPX500Long
by quantguy
What will it take for Stocks to Break Out??Stocks have retraced a bit from relative highs. The Kovach OBV is strong but has leveled off suggesting that we could range a bit at current levels. It is highly likely that the S&P will form some sort of consolidation pattern, either a wedge, flag or sideways continuation before the breakout. The retracement was paltry with respect to our expectations. The level 3909 seems reasonable if we dip further. If not, there is 3937. Look to the open for signs of momentum, and watch 3987 for resistance. if we see a lot of buying at this level then we can expect a breakout.
FX:SPX500Long
by quantguy