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Support and Resistance

Stock Of The Day / 12.13.24 / CLF12.13.2024 / NYSE:CLF Fundamentals. The news background is neutral. Technical analysis. Daily chart: Downtrend. The previous day closed below 11.00 - the level of the last trend break. We also draw the previous day's low 10.77. The level 10.21 formed by the trend break in September is ahead. Premarket: no activity. Trading session: The price is in accumulation above the 10.77 level after an unsuccessful attempt to return beyond the 11.00 level at the beginning of the trading session. Then price continued to tighten to 10.77 after an unsuccessful attempt to reverse to long at 10:30 a.m. We consider a short trade in continuation of the movement. Trading scenario: breakdown (tightening) of the 10.77 level Entry: 10.75 aggressive entry upon breakdown of the level. Stop: 10.81 we hide it behind the previous accumulation high. Exit: We observe a smooth movement without significant pullbacks after the breakdown. With due patience, you can reach 10.21 or close the trade in parts in accordance with your trading system. Risk Rewards: 1/8
NYSE:CLFShort
by AlexX31
3
Stock Of The Day / 12.12.24 / PLAY12.12.2024 / NASDAQ:PLAY Fundamentals. CEO resignation amid yesterday's negative report. The so-called second-day trade. Technical analysis. Weekly chart: Exit down from multi-year accumulation. Daily chart: The previous day closed near the strong level 29.34 formed by the trend break in September. We expect a continuation of the downward movement. Premarket: no activity. Trading session: Pure downward movement after the opening of the session. After the reaction to the level 27.00, the price entered a two-hour accumulation with a gradual tightening to the level. After the breakout, the price clearly holds the level, forming a mini tightening on the opposite side. A failed attempt to return beyond the level in the form of a candle with a tail against the trend strengthens the signal to short. Trading scenario: breakdown with retest (tightening with retest) of the level 27.00 Entry: 26.89 when the structure of the mini tightening is broken. It is acceptable an aggressive entry into the breakdown without waiting for a retest. Stop: 27.14 we hide it behind the tail of the failed return attempt. Exit: After the breakdown we observe a smooth movement without a trend structure. It is optimal to take profit in parts for such movements upon reaching certain target RR profit (1/3, 1/4, etc.) with subsequent tightening of the stop. Risk Rewards: 1/6
NASDAQ:PLAYShort
by AlexX31
Stock Of The Day / 12.11.24 / RBLX12.11.2024 / NYSE:RBLX Fundamentals. There was no significant news. The stock was listed due to the gap and a smooth, non-volatile movement at the beginning of trading session. Technical analysis. Daily chart: Uptrend. There is an attempt to update 59.80 2-years high after a small pullback. The level is not marked on the chart, since the price did not show a significant reaction to it during the trading session. Premarket : Gap Up on moderate volume. Trading session: The stock continued its upward trend movement after an unsuccessful attempt to go below the opening price. The price met significant resistance at the level 60.00 after passing the level 59.19. After a sharp pullback, the price quickly returned to the level and entered a half-hour accumulation with a smooth tighten. We are considering a long trade. Trading scenario: breakout (tightening) of level 60.00 Entry: 60.04 aggressive entry into the breakout with a small reserve for slippage. We do not expect a retest since accumulation with tightening is usually accompanied by a strong impulse movement. Stop: 59.85 we hide it behind the last tail of the tightening. Exit: After the breakout, we observe an impulse movement without a trend structure. It is optimal to take profit in parts for such movements upon reaching certain target RR profit (1/3, 1/4, etc.) with subsequent tightening of the stop. For example, we close part of the position upon reaching RR 1/3, with the continuation of the movement we pulled the stop to the profit level of 1/3, etc. Risk Rewards: 1/4
NYSE:RBLXLong
by AlexX31
Stock Of The Day / 12.09.24 / FUTU12.09.2024 / FUTU Fundamentals . Positive catalyst in Chinese stocks amid positive news from the Chinese government. Technical analysis. Daily chart: pullback on an uptrend. The nearest daily level 109.37 is ahead. Premarket: Gap Up on increased volume. Trading session : The price forms a tightening to the level 101.00 after a strong non-pullback growth from the opening of the session. Around 12:00 a.m., there is an attempt to break the tightening structure in continuation of the initial uptrend with the aim of updating the high of the day 105.00. The attempt was unsuccessful, the high of the day could not be updated and the price continued to tighten to the level of 101.00. We can consider a counter-trend trade in the second half of the trading session, considering that the general direction of the market on this day is short. There were two unsuccessful breakdown attempts at 2:12 p.m. and 2:26 p.m. which is not result in updating lower highs, confirming the strength of sellers. Trading scenario: breakdown (break of base) of level 101.00 Entry: 100.82 aggressive entry below the lower low after an unsuccessful attempt to update lower high. We do not expect a retest because breaking the base is usually accompanied by a strong impulse movement. Stop: 101.25 we hide it behind the last lower high. Exit: Close the position around 98.56 when several long candles appear in a row on increasing volumes at the end of the session. Risk Reward: 1/5
NASDAQ:FUTUShort
by AlexX31
Stock Of The Day / 12.06.24 / DOCU12.06.2024 / NASDAQ:DOCU Fundamentals. Positive catalyst after the release of a positive earnings report. Technical analysis. Daily chart: not informative.  Weekly chart: We observe the exit up from two-year accumulation, free zone ahead. Premarket: Gap Up on increased volume. We mark the premarket high, which coincides with the round level 100.00. Trading session: The price forms a pullback to the level of 100.00 after a non-pullback growth from the opening of the session. We consider a long trade in continuation of the movement, in case the level holds. Trading scenario: pullback along the trend to the level 100.00 Entry: 100.66 aggressive entry on the exit up from the range above the level. Stop: 99.49 we hide it behind the pullback low. Exit: We observe a pronounced trend movement. Close part of the position on 104.27 after an unsuccessful attempt to update higher high. Close the rest on 106.64 after an unsuccessful attempt to update higher low. Risk Reward: 1/5
NASDAQ:DOCULong
by AlexX31
Stock Of The Day / 05.12.2024 / SNPS12.05.2024 / NASDAQ:SNPS Fundamentals. Negative catalyst after earnings report and weak 2025 forecast. Technical analysis. Daily chart: nearest potential support level is 515.00 formed by the nearest break in the trend. Premarket: Gap Down on moderate volume. Trading session: The price forms a pronounced tightening to the level 532.00 against the initial downward movement, after a non-pullback decline from the opening of the session. We are considering a short deal in continuation of the initial movement. Trading scenario: pullback along the trend (false tighten) to the level 532.00 Entry: 529.30 breakdown of the trend line of the tightening structure. Stop: 532.27 above the held level 532.00 Exit: Close part of the position on 520.56 after an unsuccessful attempt to update lower low. Close the rest when exiting upward from the consolidation. Risk Reward: 1/3
NASDAQ:SNPSShort
by AlexX31
EURUSD Potential for up trend continuationEUR/USD rebounded from a support level, influenced by impactful news surrounding the Euro. The market remains in a consolidation phase as the year-end approaches, likely staying within last week’s trading range. A rejection signal at the support level and the downward trendline could indicate potential upward movement, suggesting oscillation within the consolidation zone’s highs and lows. The recent breakout from a falling wedge pattern points to a possible rise. The target resistance zone for this movement is around 1.05620
Long
by RTED_Investing
Stock Of The Day / 12.04.24 / FL12.04.2024 / NYSE:FL Fundamentals. Premarket down 19% after earnings report that failed to meet investor expectations. Technical analysis.   Daily chart: nearest potential support level is 19.55 formed by trend break from 10.27.23 and confirmed by false breakout on 11.10.23. Premarket: Gap Down on high volume. Note that the price reached the previously indicated daily level 19.55 and bounced. We mark intraday levels in the premarket: 20.00, 20.50, 21.00, 22.50. Trading session: the price holds the level 19.55 at the opening and goes up. We are considering a long trade. Trading scenario #1 (aggressive): breakout of the upper border of the trading range above 20.25 Entry: 20.26 exit from the trading range Stop: 19.69 below the nearest higher low We observe a reaction to the level 21.00. A false breakout happened, then a small pullback on decreasing volumes and a quick return behind the level and its clear holding for 5 minutes. We are considering a long trade. Trading scenario #2 : breakout with retest of the level 21.00 Entry: 21.25 exit from the trading range on increased volume Stop: 20.97 we hide it for the held level 21.00 Exit: A directed trend movement is observed in the direction of the trade. Close part of the position before the level 22.50, close the remaining part on 22.45 after an unsuccessful attempt to update higher high. The trade can also be closed in parts (for example, part of the position RR 1/3, another part RR 1/5, etc.) in accordance with your trading system. Risk Reward: 1/5
NYSE:FLLong
by AlexX31
Bitcoin hits a new ATH! Potential for a higher swingBTC/USDT has reached a new all-time high, breaking out of a trend continuation pattern commonly observed in this market. The long-tailed bar on the weekly timeframe indicates potential momentum toward the 115,000 level in the near future. Currently, the market has made an impulsive upward move and is now consolidating sideways. A pullback toward the support zone and upward trendline may precede further upward continuation if rejection candles form, signalling buying pressure. The target resistance zone for this movement is around 108,000
Long
by RTED_Investing
Stock Of The Day / 12.03.24 / INDI12.03.2024 / NASDAQ:INDI Fundamentals. Premarket down 20% after news of $175 million private offering of convertible senior notes. Technical analysis. Daily Chart. Daily level 4.00 formed by a break in the trend on the daily chart on 11.18.24 is ahead. Premarket. High premarket volume. Gap Down. Trading session. Intraday level 4.40 was formed in the first hour of the session and the price was tightened to the level. After breakout of 4.40 at 11:44 a.m. there was no significant impulse in the direction of the breakout and the price quickly returned and consolidated below 4.40. We are considering a short deal. Trading scenario: false breakout with retest (false tighten with retest) of level 4.40 Entry: 4.37 after second touch and pure level holding Stop: 4.42 above the high of consolidation Exit: There is a pure trend movement in the direction of the trade. You can close part of the position before the low of the day 4.10, and hold the rest until the close of the session or close this trade in parts (for example, part of the position RR 1/3, another part RR 1/5, etc.) in accordance with your trading system. Risk Reward: 1/7
NASDAQ:INDIShort
by AlexX31