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Netflix Is Just Chilling...For Now!Netflix is chilling at the moment and has been moving sideways now for a year now. We saw some fast growth in their share value following the peak of the pandemic, but the buyers have not been able to keep up the momentum. Consolidation periods usually follow strong trends but if the overall strength of the stock is still there, then price should be able to continue the trend sooner or later The last consolidation period lasted for two years but we may not have to wait that long this time but either way, we will only take action if price breaks above the all-time high at $593. Price is also hovering around the $500 round number, which is a psychological level of support & resistance. As the overall trend is bullish, we are anticipating a breakout to the upside before considering opening up any positions. This is quite an expensive stock, so it may not be suitable for all investors, but we cover other good-looking opportunities in our posts. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NASDAQ:NFLXLong
by Sublime_Trading
Microsoft Up 1739 Points!Microsoft has progressed nicely since the last post a week ago, moving up 1739 points at the time of posting and still moving strong. Price has not made contact with the weekly 50 simple moving average since March 2020, but it has been using the daily 20 & 50 simple moving averages as support. We have been seeing deep pullbacks since 2020, but from June 2021 the behaviour of price has changed and we are seeing more of a linear clean move. Earnings came out on July 27th, which didn’t disrupt the flow of price. A mini consolidation has followed earnings and we now await a breakout above the current all-time high at $290. A break and close above the recent high will confirm a trend continuation and a move towards the $300 round number. How will price react to the $300 round number? This is anyone’s guess, but the momentum should take price higher over the long term. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NASDAQ:MSFTLong
by Sublime_Trading
S&P - The Calm Before The Perfect Storm?The July 14th high continues to act as support following the breakout that occurred on July 23rd. This was a strong breakout but it was not followed by a strong continuation to the upside. On August 3rd, the low of the wick came close to tagging the 20 simple moving average by 2 points. Despite the 20 simple moving average also holding price up, it appears there is a lack of momentum in this market at the moment. The overall trend remains bullish so the bias is for a breakout above the all-time high at $4429. This is where patience comes in, often investors become complacent and do not remain ready for opportunities when the markets are going sideways. Every market will experience some sideways movements while in a trend, so this behaviour is quite normal. We are in earnings season, and some stocks are seeing huge jumps to the upside while others are dropping like flies. The positive moves should outweigh the negative ones overall as long as you keep your losses small and your winners big. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPXLong
by Sublime_Trading
1
Could Bitcoin Be On The Move?Bitcoin formed a high at $42,000 on January 8th 2021, which was then followed by a pullback. Price then broke above that high to create a new all-time high at $64,894 on April 14th 2021. The buyers soon gave control back to the sellers, and in May 2021, price came down to $42,000 and used this level as support for a couple of days. It did appear that this level was going to hold, but on May 19th 2021, price broke down through this level with a large bearish candle that came just points away from hitting $30,000. Panic ensued, and ever since then, price has been in consolidation, bouncing around between $28,600 and $42,000. Price now appears to be approaching $42,000 once again, and if the momentum pushes price hard enough to break out above this level, then we also want to see price move above the daily 200 simple moving average. At the moment, Bitcoin continues to move sideways, but a breakout to the upside or the downside of the consolidation zone will give us an early indication of where price may be heading to next. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSDLong
by Sublime_Trading
S&P 500 Still Gearing Ahead!The S&P 500 continues to use the 20 and 50 simple moving averages as support along the trend that is currently in play. On July 19th 2021, price pulled back to the 50 simple moving average yet again which coincided with a previous resistance turned support level at $4257. A nice clean bounce from this level took price above the previous all-time high at $4393 where price is now hovering. When price broke above this level, we wanted to see a nice continuation of solid bullish bars, but instead, we are seeing this level acting as support after only a couple of days from breaking out. This does not mean much based on the bigger picture as the bull trend still looks strong. But we could see another pullback to either the 20 and 50 simple moving averages. As long as the trend remains bullish, we will continue to look for long opportunities in both the UK and US stock markets. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPXLong
by Sublime_Trading
Amazon Taking Off Like Jeff Bezos!While Jeff Bezos is flying rockets to space his company appears to be setting itself up for its own take-off. If we look back at this stock, we can see that price was in consolidation from September 2020 following a 116% bullish run from March 2020. Such a strong move was likely to cause long-term sideways movement as the market would have become exhausted from strong buying. The consolidation period went from September 2nd 2020 until the breakout on July 6th 2021. Price then broke out with a large bullish candle. Despite such a large breakout candle, this could have still turned out to be a fake breakout, and price could have returned back into the consolidation zone. This is why we wait for confirmation. Price appears to be in the process of confirming a continuation of the bull trend. The move up following the breakout has now seen price pull back to the resistance turned support at $3552. This level of support has held up so far, and the 20 simple moving average reinforces it. So both indicators have worked together to hold price up from declining further. Price has since bounced from support and looks set to make its way towards the all-time high at $3773 from the high of July 13th 2021. If price successfully breaks and closes above this level then this will be our confirmation of the bull trend continuation and we may even see a move above the $4000 round number. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NASDAQ:AMZNLong
by Sublime_Trading
S&P Bounces Yet Again!Price at the start of the week didn’t get off to the best start as Monday opened up with a gap-down candle. Not only did price gap down, but it also closed with a large bearish candle. On a lower timeframe such as the 5-minute chart, the drop would have looked a lot more frightening than it actually was. If you have been following our posts for a while, you will know by now that we look at the bigger picture. Because the S&P is in a long-term bull trend, we understand that the decline was likely to be just a pullback. Of course, we were prepared in case it was the start of a bear trend, but there were clear indications that this was just a pullback. The first clue was that price came down and found support at a previous resistance turned support level at $4257. Not only that, but the 50 simple moving average acted as support. When you have two indicators around the same zone, it gives us a strong indication that price may find difficulty breaking through. And this seems to be the case here. The 20 simple moving average is also helping to keep price up, but price mainly finds support at the 50 simple moving average. The following day after hitting support, price made a complete reversal and is now heading back to the upside. A break and close above $4393 will confirm a continuation of the bull trend. We want to see price continue to trend strong and move towards the $5000 round number which is the next level of resistance. Should the S&P accomplish this, then the rest of the UK and US stock market will likely continue trending to the upside. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPXLong
by Sublime_Trading
S&P Keeps Soaring To Record Highs!Since our last post on June 22nd, price has progressed really well. Back then, the all-time high at $4275 was yet to be broken. It did go on to break this level and right now price is up 2.57%. Price was also rangebound back then, hovering between a high of $4257 and a low of $4056. Since breaking out, price has formed a nice neat linear move up, creating new all-time highs. As with most clean moves, we can expect to see a pullback and period of consolidation at some point. If this occurs, we have the 20 simple moving average below price followed by the 50 simple moving average. The 50 simple moving average does, however, fall inside the consolidation zone. The S&P continues to look strong and as long as it remains this way, we will continue to look for long opportunities in both UK and US stocks. Our role as investors is not to predict the markets, which is near impossible but to ride the waves, which is why we are able to ride the bull wave with such ease and success. We now want to see price continue to trend and move up towards the $500 round number. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Palladium Hits Strong Resistance! What Next?Since our last post, palladium has made good progress, moving up $90 to meet the resistance from February 2020. Price is at an interesting point, because a clean break above and we should see price move towards the all-time high at $3017. The weekly 50 simple moving average has aided this gradual upwards move. The first break of $2875 was short-lived as price came tumbling down and reentered consolidation in April/May. Price is still in consolidation, and the longer it does so, the bigger the move we can expect in the direction of the breakout. So should we see a breakout to the upside, which is the bias as the prior trend was bullish, we can expect a solid long-term uptrend to unfold. This is why we want to position ourselves to take advantage of any breakouts that may occur. It will require some patience while price sets itself up, but the reward will more than make up for the time sitting on the sidelines. We will continue to follow the journey of this commodity. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
Microsoft Trending Towards $300!Microsoft’s movement has been relatively predictable over the last few years, as you can see on the monthly timeframe. We have seen trends followed by consolidation/pullback, then trends again and so on. Currently, price is in the trend phase and there are also smaller areas of consolidation on the daily timeframe (not shown). The most recent consolidation period was from April this year and lasted up to last month, where price broke above the previous all-time high at $263. If price encounters another pullback, then the 50 simple moving average is below to catch price and act as support. The last time price made contact with this indicator was in March 2020. As price has remained a reasonable distance away from the 50 simple moving average, it highlights how good the trend currently is performing. Going forward, we want to see a more linear-looking trend develop, one with shallow pullbacks and smaller areas of consolidation. We now want to see price continue to trend towards the $300 round number as the bullish momentum builds up. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NASDAQ:MSFTLong
by Sublime_Trading
Palladium Ready For A Breakout?Palladium looks set to make another attempt at breaking out of the 16 month period of consolidation, which began in February 2020. A break above the consolidation high at $2875 was made in April this year, but that was short-lived as price returned back into the consolidation zone after being forced down by the $300 round number psychological resistance level. During the sideways market movement, price has still respected the 50 simple moving average, which has acted as support, helping price create higher lows. Last week we had a reversal just around the 50 simple moving average, which was shown in a recent post, and this week price is gaining momentum and heading towards resistance at $2875. If this level is broken then we still have the $3000 round number and the all-time high at $3017 in the way. The long-term movement has been bullish prior to the consolidation period, so the bias is for a break out to the upside. Should we finally have a breakout, then we should see a linear trend unfold as this commodity has trended really well in the past. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
S&P Bounces After PullbackThe S&P 500 ended last week with a big bearish candle. The Dow Jones 30 also closed bearish with a gap-down candle. Price action today was important to give us an idea where price may be heading next. If we continued to see bearish moves today, then that would have indicated the potential end of the trend. But Monday and Tuesday so far have seen a nice reversal with bullish moves. We now need to see bullish momentum through the rest of the week. The bounce came at the 50 simple moving average and price even closed above the 20 simple moving average. Price is not too far away from the all-time high, which lies at $4257, and we could see a breakout this week if the momentum continues. Following a breakout of the high, we want to see the trend go on to the end of the year. This will allow our portfolio to increase in profit and give us many opportunities to compound and maximise our profits further. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Palladium Bounces After Free FallFollowing the free fall we witnessed in Palladium last week, price has appeared to have found some form of support just above the 50 simple moving average. Price does tend to hit the 50 simple moving average, so if we see further declines, we may see price tag this indicator before seeing a continuation to the upside. In April this year, price had finally broken out of the 14 month-long period of consolidation but then struggled to remain above the consolidation resistance level at $2875. With price back inside the consolidation zone, we need to see another breakout but this time above the new all-time high at $3017. This would also mean a breakout above the $3000 round number. Overall, price is creating higher lows, but as price is still in the consolidation zone, its behaviour may be unpredictable, which is why we wait for breakouts to confirm trend continuations. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
1
Palladium Down 9%Palladium is currently taking a dive, and something similar is happening with Gold and Silver right now. The news is likely fueling this and the decline could be short-lived. In April of this year, price had broken out and created a new record high at $3017, hitting the $3000 round number. This psychological level of resistance created an obstacle for price and forced price down. This week, we see a strong bearish move with the next level of support based on this timeframe being the 50 simple moving average. Price has used this indicator as support several times in this stock’s history, so this is the obvious level that price may gravitate towards. Palladium has been making good progress since the 47% decline during the 2020 global pandemic, and this is just another bump in the road that price will need to navigate around. Patience for now as we wait to see how far price will drop and what price will decide to do once it finds support. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
3
Nasdaq Making A Break!The Nasdaq 100 was leading the way and trending stronger than the other main two US indices, the S&P 500 and the Dow Jones 30, during the pandemic last year and looks to be leading the way once again. This week we saw price break above the previous all-time high at $14073 but price has since retreated back below this level. If the week closes above $14073 then we should see further moves to the upside. There is a battle going on right now between the buyers and the sellers this week, as we can see an indecision candle, but one will eventually come out on top. The weekly 50 simple moving average has been used as support in the past, the last contact was made in April 2020, so if we are due another pullback, then price may come down to this indicator to find support again. Nasdaq has been in a bull trend since 2009, but has been moving sideways since February this year. Once the momentum picks up again, we should see price clear resistance and continue the bull trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:NDQLong
by Sublime_Trading
S&P 500 - 9 Points Till Breakout!In the previous post on the S&P 500, price appeared to be moving fast towards the all-time high at $4238, but it has taken longer than expected to get there. The pullback has turned into consolidation but used the 20 simple moving average as support, which did help price move higher towards the end of last week. The monthly candle for May closed with an indecision candle, suggesting a potential reversal/pullback, but price is looking strong so far this month. The fact that rice pulled back last week and bounced off the 20sma gives us the confidence that the uptrend is likely to continue, but a break and close above the all-time high will confirm this. Friday’s candle closed with a solid bullish candle and price is now just 9 points away from breaking out. If the bullish momentum flows into next week, then we should get that breakout we are waiting for. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Microsoft Forming A Textbook TrendMicrosoft is following a pattern of trend then pullback/consolidation followed by trend and so on. Although the pullbacks and consolidation zones do last a few weeks, this stock is a consistent mover, and just requires patience if a position is held. At the moment, we are seeing a trend in play, forming higher highs and higher lows with price now making its way towards the all-time high at $263. The 50 simple moving average is below and should act as support if we experience a deep pullback. The last time price made contact with this indicator was back in March of this year. The fact that price has not hit it since demonstrates how smooth the current bullish move is. Microsoft has formed strong linear trends in the past and although the current move is not linear, we could see momentum pick up and form another nice move. The $300 round number is above and is the next level of resistance as this is a psychological level. We are now in a waiting game as price approaches resistance. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NASDAQ:MSFTLong
by Sublime_Trading
Will the S&P Break Out This Week?The S&P 500 is progressing well and after bouncing off the 50 simple moving average last week. The 20 simple moving average appeared to be acting as temporary support, but today we can see price is above this indicator. As mentioned in previous posts, we have support levels in the form of the 20 and the 50 simple moving averages and the $4000 round number, which is a psychological support zone. This recent pullback does appear to be a mini period of consolidation, but this should not matter as long as the trend continues. We are now waiting for a break and close above the current all-time high at $4238, which was created on May 7th, a few days ago. A close above this level will confirm the buyers are in command and should be set to push price higher. As long as the moving averages continue to act as a ladder, helping price climb to the upside, we should see record highs continuing to be made through the rest of the year. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
S&P Experiences Another PullbackThe recent declines in the market were just another profit-taking session for short-term investors. It may have sparked a lot of fear amongst investors new to investing, but savvy investors would be fully prepared for such events. The $4000 round number is also below, should price decide to move further down. This level may act as support, and further down we have the 200 simple moving average. The S&P remains bullish and will frequently experience pullbacks to the 20 & 50 simple moving averages, which is normal based on the history of this index. At the moment, the 20 simple moving average is acting as resistance but shouldn’t hold price for too long if the bull trend is strong enough. Patience is required for now as price gathers up enough momentum to push higher. A break and close of the current all-time high at $4238 will confirm a continuation to the upside. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Bitcoin Taking A Breather!Bitcoin has been making headlines throughout this year, mainly due to the 123% growth we witnessed from the start of the year to its peak in April, almost reaching $65,000. As is the case during strong moves, we will experience a correction, and Bitcoin appears to be doing just that. We now need to establish levels of support that price may bounce off. Support and resistance levels are leading indicators because we will be aware of these levels in advance. Price at the moment has hit support at $42,000, which was previously a resistance level. An indecision candle is currently forming here, but it may be subject to change as this is an intraday candle. If this level fails to hold price up, we have the $40,000 round number below, followed by the daily 200 simple moving average. As there are several strong support levels below price, the expectation is that they will hold, for now at least. If these support levels are broken, then this will be an early indication that the trend may have come to an end. We will then be in a position to manage our positions. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSDLong
by Sublime_Trading
Palladium Setting Up To Go LongPalladium had a nice run between 2018 and 2020 with a rise of 245% during this period before the Covid-19 pandemic hit price. From that point, price created an all-time high at the time of £2875, then there was a sharp decline to near the $1500 round number. The round number and the 50 simple moving average cushioned the fall and gave price enough support to find its footing. Price has slowly been climbing back up, using the 50 simple moving average as support along the way, and went on to create new all-time highs last month at $3017. The previous all-time high is below price and has acted as support already and may be the base price needs to help it to continue creating record highs. If price can break and close above the recent high, this would also take price above the $3000 round number and allow us to look for a position in this commodity. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
S&P Trending Higher and Higher!Friday’s candle confirmed a continuation of the uptrend with a break and close above the previous high. Record highs are consistently being made in the S&P 500, and we could go on to see a trend lasting the rest of the year. The current trend is using the 20 and 50 simple moving averages as support. The most recent pullback came down and bounced off the 20 simple moving average. Both UK and US stocks are continuing to perform well, and many are offering us compounding opportunities. Stocks that are breaking out from long-term consolidation are forming neat linear bullish trends. As we advance, both the 20 and 50 simple moving averages should continue to act as support. With the 50 simple moving average near the $4000 round number, this cluster makes this zone a strong level of support should price decline this deep. As for now, the trend is strong and should remain so as long as we keep seeing higher highs and higher lows being formed on the daily timeframe. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
2
S&P 500 Due A Breather?The S&P 500 continues to trend well and has been making use of the 20 and 50 simple moving averages as support. On April 1st 2021, price finally broke above $4000 which was anticipated to be a potential strong level of resistance. Price broke through with ease, forming a linear move to the upside. A pullback is due as price has seen a nice move upwards, so some selling off is natural. We just need to identify levels of support price may come down to. We have the 20 simple moving average, the $4000 round number, followed by the 50 simple moving average. Whichever level acts as support is irrelevant, we just need to continue to see a pattern of higher highs and higher lows to confirm the uptrend is still in play. Overall, the stock market is bullish and we may well continue to see bull trends throughout the rest of the year. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading