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S&P Failed Breakout??The S&P broke out from our inverse head and shoulders pattern, but faced resistance at the trend line which forms the upper bound of our pseudo-megaphone pattern. If we can't muster the momentum to continue the breakout, then this is a bearish sign and the S&P could retrace all the way back to 3737. If momentum picks up we can easily hit 3909, a technical level and a Fibonacci Extension level from Fibs anchored on the inverse H&S. The Kovach OBV has dropped off suggesting weakening momentum
FX:SPX500
by quantguy
Flag Pattern on ABT, the way we will trade itToday we will show our analysis and setup we are planning to take on ABT Technical Overview: -The price is inside an ascending channel -Currently is in contact with a key support resistance zone + the ascending trendline -In Technical analysis confluence situations provide interesting places to think in terms of buying or selling pressure Setup development: -We can see an ABC pattern on the confluence zone (support resistance zone + ascending trendline) -IF the price reaches the green line we will consider that as a trigger for our view. We will set stop loss below the structure, break-even on the first fibo extension and take profit on the final fibo extension -IF the price doesn't reach the green line, and keeps falling below the Flag pattern, we will cancel our bullish view. -Risk we are taking on this setup: 1% of our capital Thanks for reading!
NYSE:ABT
by ThinkingAntsOk
2
Inverse Head and Shoulders in Stocks!!The S&P has found support off of the lower bound of our pseudo-megaphone pattern. We appear to be forming an inverse head and shoulders pattern with a neckline at 3848. We are currently forming the second shoulder, and it would be wise to wait until we fully form it before preemptively trading it. Our next target would be 3886, which is the intersection of the upper bound of that pseudo-megaphone pattern and a technical level. If we are wrong, 3792 should provide support
FX:SPX500Long
by quantguy
GAMESTOP -- Keep this simple. Late to the party on this one? No worries, it's still game-ON for profits. Now that there are key ranges in play for ALL to see, this becomes easier to read. Do not complicate it any more than it needs to. Zero moving averages, zero indicators. Read the charts and follow the potential moves from these highlighted areas. Use your own methods for entry, but these are higher probable turning areas I expect to watch...double tops, double bottoms, false breaks, value reversion trading at its best. Shorts are in the RED and longs are in the GREEN. The current value range WHITE has been created for us to use as targets. Very similar to my BMBL IPO trade last month. *Ideas are my own and not as recommendations
NYSE:GME
by ProSTrades
7
Elon Space Time Continuum PatternI recently opened a short position on Tesla based on the ABCD elon space time continuum I noticed recently while performing some divergence analyses. Basically, the idea is simple. Tesla will eventually become a hardcore meme stock. Reddit users will blast Tesla into space towards the moon, but while doing so Elon will force Tesla to exceed the maximum velocity of stock prices through space time, at which point time will reverse and hedge funds, such as melvin capital, will experience reversed gains through negative time. Melvin capital will strike back using light sabers, lawyers, and a dedicated army bloggers eroding the basis for Tesla. Time having been reversed, Melvin will begin disseminating fake news that dirty crude oil's combustion can now also be reversed creating a source of infinite energy. They will fuel their lies by melting Antarctica and Greenland's ice sheets and pumping out giant reserves if hidden crude oil of the dirtiest caliber. Once this occurs, Trump will gain international support and win the 2024 American election. The neo-trump administration policies will then annihilate Tesla's earnings, but Elon will use his savvy people skills to convince wall street that Tesla's still worth it even though its losing money at an exponential rate because green energy. Also, they like the stonk anyway.
NASDAQ:TSLAShort
by gsrichar
Bearish and Bullish movements of ARKKWhat is ARKK? ARKK is an actively managed ETF that seeks long-term growth of capital by investing under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are relevant to the Fund's investment theme of disruptive innovation. Who Runs it? Catherine D. Wood (born c. 1955) is the founder, CEO, and CIO of ARK Investment Management LLC (Ark Invest), an investment management firm that managed the largest actively-managed exchange-traded fund in 2020. Wood was named the best stock picker of 2020 by Bloomberg News editor-in-chief emeritus Matthew A. Winkler. What about the performances? On this chart, you can see that the overall return of ARKK is outstanding since inception reached a peak of almost 700% in 5 years. The idea of this post is to understand how impulses and corrections happen and the % we can see on each of them. Since its inception, ARKK has had 3 impulses and 3 corrections. We will consider a correction as a 30% drawdown or higher. Why is this relevant? Because if we are interested in a good situation for buying ARKK, we should ask the question about selling periods and subsequent impulses. Currently, ARKK is dropping 27%, and the next support zone is at 89.77. If the price reaches that level (that would mean that the market corrects (all of it)), we would be on a 44% Drawdown. From there, we would start thinking about how we can create bullish setups if the conditions are appropriate, and we would never buy a falling knife directly. We want to observe reversal signs before that. Thanks for reading!
AMEX:ARKK
by ThinkingAntsOk
2
Bond Yields Still Hammering StocksStocks retreated from relative highs and the upper bound of our pseudo-megaphone pattern, which has been holding for over a week now. We found support at the lower trend line which formed the lower bound of the pattern. The Kovach OBV is still extremely bearish and the recent jump in bond yields will further entice investors to diversify and sell some of their stock positions. Watch for stocks to hug the lower bound of the megaphone pattern and potentiallly break down further. If so, watch 3694, 3676, and 3658 for support. If stocks get a sudden burst of momentum, we have a bit to go before highs or the upper bound of the pattern, and there are three levels in the way which have proved significant in the past: 3792, 3810 and 3825
FX:SPX500Short
by quantguy
The weekly target for ALCOA CORPORATIONThis is a simple post, mainly for people holding this stock and want to have an idea of exit levels or what to expect in the coming weekly candlesticks. -Our approach to any chart is straightforward. It is based on analyzing things that happened in the past in specific areas and then replicating those conditions to the present to understand how the price can evolve. -In this case, since 2009, we can see a clear support zone at 16.00; every time the price reached that level, we saw huge bullish pressure. When the price went below that level, it didn't take too much time to see it above again. If the 16.00 level is an accumulation zone, where is the distribution zone? -To answer this, we can use the same approach. 40.00 is a distribution zone since 2009 for Alcoa. Every time the price reached that level, we observed selling pressure. Even when the price went above that level, the price retreat first. As a final target for the movement we observe, we think 40USD is a great area to close setups and see if we have corrective patterns that can provide us information about more bullish pressure coming or see huge sell-offs like the ones that happened in the past.
NYSE:AALong
by ThinkingAntsOk
1
Stocks Gearing Up for a Breakout??Stocks appear to be coiling up for a breakout. We had some wild fluctuations the past few trading days, but we are currently seeing a consolidation just under the upper bound of our pseudo-megaphone pattern. Recall that this is not technically a megaphone pattern which requires higher highs and lower lows. However it does obey the spirit of the pattern which is an increase in volatility. We are currently hugging the trend line at the moment, and may form a bull pennant before another breakout. It is also possible to see one more test of lows, so watch what the momentum is doing at open. This will give you a hint. If we reject those highs, 3867 will provide support and then 3848. If we break this level it is likely to test the lower trend line of the pattern again. The levels 3927, 3938, and 3962 are targets to the upside.
FX:SPX500Long
by quantguy
3
The current situation on NIOThe price has declined 37% from ATH. Currently, we can observe movements typical from the accumulation / Distribution process. This type of movement is characterized by having clear limits. In this situation, we can observe the Support zone, and the descending trendline of the bearish movement (there are 2 of them) Our view: We think that the most relevant level to observe bullish pressure on this Stock is the zone between 39 and 36. There we have an ascending trendline and a clear support zone where we observe bullish presence in the past. If we want to develop long setups, we have two scenarios. The first one is: Wait for the price to reach the mentioned zone (39 - 36) and then wait for the inner descending trendline breakout. Only there look for long setups by waiting for a clear corrective structure. This would be a high-quality scenario because the bounce comes from a specific level that we consider strong for buyers. After that, wait for a corrective structure and finally trade towards the First Target. The second one is: From the current levels, we have a breakout of the bearish trendline, and we observe a clear corrective pattern that allows us to trade in the same way as the previous scenario. This situation is less premium than the other one because the price is not bouncing from a strong zone. Please, take into consideration that this analysis is meant to understand situations inside the current sideways movement. Once this accumulation / Distribution process is finished, we will work on the middle and long-term targets for the whole structure's breakout. Thanks for reading!
NYSE:NIO
by ThinkingAntsOk
2
Another Stock Breakout??Stocks have recovered nicely from that huge dip. Trusting our senses paid off yesterday as the S&P hit our target exactly. We are seeing an extension of the megaphone type pattern we discussed a few days ago. For the pedantic, technically, this is not a megaphone pattern, since we'd need higher highs in addition to lower lows. However it does obey the spirit of the megaphone pattern in the sense that we are seeing an increase in volatility. There appears to be a bias forming to the upside which suggest we could see a breakout soon. The Kovach OBV has picked up, suggesting it may be loading up for that breakout. Relative highs at 3937 would be a great target. Expect resistance there as this is a significant level
FX:SPX500Long
by quantguy
2
Stocks to Recover??The S&P had an extremely choppy day on Friday. Prices oscillated wildly between 3791, and just below our level at 3867. Currently we are testing the upper bound of that range. The volatility and failure to break through to lower levels coupled with the testing of the upper bound suggests we may see a breakout to the upside today. Watch for 3867, 3887, and 3910 to provide resistance and these should be thought of as profit targets. Eventually we will close the breakout rejection from our inverse head and shoulders pattern from last week but that likely wont happen today unless we get an extreme amount of buying volume.
FX:SPX500Long
by quantguy
5
Our trading plan on JNJ Today we will share our view and trade idea on JNJ. First, let's start with the Weekly chart, so we can make an idea of the big picture: Here, we can see the price inside a huge ascending channel. The price reached the upper trendline, and we saw a clear rejection there. Now the main conclusion of this is: -If the price is not able to break above the ascending channel, we can expect more bearish pressure -If the price breaks above the ascending channel, we can expect more bullish pressure As we are not interested in taking short positions on stocks. Let's see how we plan to trade the bullish scenario in case it happens. -On the 1H chart, we can see a clear corrective pattern on the edge of the Weekly ascending channel (ABC structure). Corrective patterns are continuation structures that tend to continue in the direction of the previous trend once we have a final structure breakout. -The Current corrective structure is supported on a key zone. which is an important level to pay attention to. -IF the price breaks the green line, we will consider that a confirmation of the current view, we plan to open positions towards the Final target, and we will protect our setup if the price reaches the first Fibo Extension. Our stop loss will be set below the structure. The risk-reward ratio we are looking at here is 2.4. and the expected duration of this movement could be from 3 to 5 months.
NYSE:JNJ
by ThinkingAntsOk
5
Dollar General/ DG GREAT BUY Surprisingly enough this company is stellar when you look at the financials. Its Cash Cycle is under 30 days with absolutely NO ACCOUNTS RECIEVABLE!!! its been growing its revenue around 10% each year, management has been buying back shares to increase shareholder equity, its dividends are squat :( , but they are gunning for Five and Below/ FIVE s market by opening POP Shelfs in the 'Burbs. If the POP Shelfs are able to take hold then I could see this company keeping par with its 10% revenue growth rate for the next 10 years. For the past decade the GPM has not dipped below 30%. the Return on Equity (for the value investors like myself) has been steadily growing with the last years being 25.5% with a 10 year average of 20%. And with COVID-19 still keeping people out of work and unemployment moderate to high I can see more households stretching the dollar which will grow this company's Revenue. As the families effected will be looking for the bargain stores to save their capital. The Company has ZERO short term debt, but they have no treasury shares. :( so, they have no equity out of the market and i think this particular reason is why i think its more of a "B+" investment rather than a A+ investment. If you're a conservative investor the D/E Ratio for the past year was .43, so that's not bad! with only 4% of their operating income going toward paying off interest on long term debt as compared to the moderate 15%. :) so when they buy their shares back its possible they might be retiring them. the Current Ratio has been a strong 1.5-1.7 for the past decade with a few exceptions, and their retained earnings pool has been steadily growing. Currently its trading under value with a fair market value of 196.xx with Ben Grahams formula putting it around 294.xx. I would love to see the price drop below 185.xx before buying so that way one can maximize their return on investment. If you're a growth investor or value investor this is a great company a solid B+ or A- to build a portfolio on. I would love to see this ABCD pattern complete as a great entry.
NYSE:DGLong
by ARegularGuy
Carnage in Stocks!! 😱Our inverse head and shoulders breakout was very short lived for stocks. The S&P has retraced this entire move and then some. It even broke past the head of our inverse H&S. Currently it is finding support at 3809, but it looks to be getting really comfortable with these lower levels. The Kovach OBV is very bearish, and the oscillatory behavior registers major momentum in both directions over the past few days. For our next level of support we need to appeal to the 3700 handle. We have 3792, and then 3757. If we manage to catch some momentum, we have 3867 which would be nearly a 50% retracement.
FX:SPX500Short
by quantguy
1
MJ about to get highGeneral Explanation of MJ MJ is the first cannabis-focused ETF to trade in the US. The fund tracks an index of stocks across the globe that are engaged in the legal cultivation, production, marketing, or distribution of cannabis products for either medical or nonmedical purposes. The index identifies companies that legally derive more than half their revenue from cannabis-related activities. MJ also holds stocks of companies that trade or produce tobacco products, fertilizers, plant foods, pesticides, equipment for cannabis or tobacco. The fund initially did not include US companies due to its prohibition at the federal level but changed after new legislation. The index is reconstituted and rebalanced quarterly. Prior to Dec. 26, 2017, the fund was called the Tierra XP Latin America Real Estate ETF and tracked an index focused on Latin America real estate companies with the ticker LARE. Before Feb. 9, 2018, the fund traded under the ticker MJX. Technical Perspective: -We can see that the bearish trend From September 2018 - March 2020 has been broken. The price found its bottom on 8.67 -After breaking the descending trendline, we had a strong bullish movement towards 34.50 and, after that, a 36% correction to current levels -We can see that we have a huge support zone between 23 and 25. If the price stays above that level, we can take it as a good signal of buyers in the zone which eventually can push the price higher. -We consider that if the price reaches 27.5, that will be a confirmation of the bullish trend, and we expect to see a movement towards the next resistance zone at 39 - 40 -We should pay attention to 32.5 as an inner resistance zone that the price has to break before reaching our Target; that would be a smart place to protect positions. As a final curiosity, we will leave here the current 10 top holdings of this ETF / % of each stock / ticker / shares held / Market Value USD APHRIA INC 10.32% APHA 9,686,494 $194,407,934.58 GW PHARM-ADR 9.64% GWPH 844,511 $181,569,865.00 TILRAY INC-CL 2 7.48% TLRY 5,033,560 $140,839,008.80 CANOPY GROWTH CO 5.86% CGC 3,099,126 $110,328,885.60 GROWGENERATION CORP 5.50% GRWG 2,044,958 $103,515,773.96 CRONOS GROUP INC 5.42% CRON 8,944,741 $102,059,494.81 HEXO CORP 3.98% HEXO 9,655,518 $75,023,374.86 VILLAGE FARMS IN 3.90% VFF 4,469,612 $73,525,117.40 SCHWEITZER-MAUDU 3.66% SWM 1,446,363 $68,991,515.10 VECTOR GROUP LTD 3.54% VGR 4,639,762 $66,719,777.56
AMEX:MJ
by ThinkingAntsOk
2
Best Stock Trading Ideas!!Stocks have broken out from the inverse head and shoulders pattern we called out yesterday. They first met resistance at 3937, then retraced to 3909. Both of these levels were explicitly called out in our reports. If 3909 fails to provide support, we will see support again from 3887, which is the neckline from which we broke out yesterday. If the current price action is just a retracement, we can expect to make a run back to 3937, and then break out further to cross the vacuum zone to 3963.
FX:SPX500Long
by quantguy
2