There are several factors that are aligning in MELI's favour for sustainable recovery in the near future (minor pullbacks not withstanding): 1. Since hitting the low in June2022, it began to whip saw sideways within an ascending triangle pattern. This is a possible reversal pattern when formed after a downtrend. 2. A golden cross on 22 Dec2022: another signal...
UDR is extremely close to breaking its all-time-highs from February 2020. Not only that but it's been on an absolute tear for the past 7 months. That's 7 consecutive months it has been closing green. Taking a look at the volume coming in, it seems like it will break in the coming week. Not only is this setting up for a great trade, it's also a great long term...
Todays chart – RVNUSDT – Attempting to break the symmetrical triangle formation as it nears the apex Points to consider: - support and resistances converging (apex) - Bullish Price action (sellers bought up) - RSI above 50 - Strong volume RVN trading within a mature symmetrical triangle where buyers have consistently bought up the sellers throughout the...
The stock is now making its first bullish correction clearing a daily Resistance (Ascending Triangle Pattern). The breakout is accompanied by a higher volume. BHR has plunged in MArch dropping more 70%.
HOV is bouncing from a weekly Support. The stock has established a daily range and is attempting to break it. The last daily candle has closed at the Resistance level with strong volume. I will be observing the breakout in this session. For me, it is a neutral bias until the level is clearly broken. When the breakout happens and the price goes above the...
RHI found support in the weekly chart and is coming with bullish momentum. In the daily chart, we have a breakout of an ascending triangle. The stock opened with a gap above the breakout with a strong volume before pulling back and closing above the current S/R. The ideal way to go long is by waiting one or two bullish candles on the Daily time frame to confirm...
I do not have enough history for both weekly and monthly charts to see if there is previous S/R, the stock may want to bounce off. However, we have an ascending triangle forming in the daily chart and we can notice a relatively strong volume bar at a level below the anticipated breakout. The only way to go long is to wait for a clear breakout and to wait for a...
HGV was in a strong bearish trend in the weekly time frame. The stock is forming an ascending triangle in the daily time frame with the last bullish candlestick is accompanied by a strong volume bar. To go long, we need to wait for a clear daily breakout and preferably a retest. The first potential target could be the weekly/Daily S/R
MGY is in strong bearish trend in the weekly time frame. However, the stock has been establishing a good base in the daily time frame. The daily breakout was accompanied by strong volume.
LITE is forming a symmetric triangle in Daily charts and we need a strong breakout either way accompanied by strong volume. Earnings Report is due on April 29.
Previously I published this idea with a false broke of neck line. This time, it clearly broke with strong volume. I'll wait for retest of neck line, then i'll sell it. RSI divergence and is descending. Good trade!!!
INTU is completing a very short-term bottom formation, and moved up on strong volume. The all time high is well above the price for a Swing Trade run on momentum.