short term bullishness in semiconductors lower lowthis bounce in tech is kicking off the morning, but its not rocketing to new highs, and in this macro environment im not changing from bear bias totale. i will consider 4hr longs taking profit into pivot or upper smart money concepts profile area resistance. remember to reenter short on bear momo.
TECH
Let's see what happens next!At a current support zone right now. I can see a dump to the lower line first before a scalp-long plays out. Let us see.
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Every day the charts provide new information. You have to adjust or get REKT.
Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect!
This is not financial advice. This is for educational purposes only.
green appleif price can hold above last OB at 144.9 and break thru rejection block at 152.3 its very likely we could see a rally with a target of 155-160
Fundamental analysis:
- Apple moving production out of china to possibly india or vietnam is bullish to me, they've realized the situation in China could end up being detrimental to production. To me this shows quick & efficient leadership.
Let me know your thoughts!
AAPLs always fall from the treeDo any apples ever stay on the tree?
Alot if mass holding this bitten apple up. It’s only a matter of time before it falls from the tree.
Lots of imbalance below and smart money concepts on the weekly/monthly looking tasty for leap puts. Not investment advice but I am loading…
Musk vs Apple, CCP, 30% tax. All signs the Apple is connected by its last fiber. The slightest mention of US regulation against Apple sue to its monopoly will send the Apple tumbling towards equilibrium or discount zone.
Trade safe and have fun!
Apple Bullish Dragon at S/R Zone Bullish Above $145If AAPL can get and stay back above 145 we can very likely see it Break Above the Dragon Trendline and hit a Minimum of $163 but if it goes extremely well i could see it going to $193.32
I believ this will also help The Dow to completelky reach it's upside targetss as the Dow has been extremely strong and ahead of the SPX. Nasdaq 100, and Russel.
Nasdaq 100 will keep falling. Here are some key levels to trade!The chart shows my macro plan on the Nasdaq. I believe with fed rate hikes today we will start again another decent lower in the markets. The Nasdaq has great potential to see a nice relief bounce off of the Golden Pocket noted on the chart. This small rally will most likely be stopped in its tracks at the descending trendline (if it even gets that far). After a solid rejection at the trendline the Nasdaq will head lower into the .786 fib retracement and into a major uptrend support line. If this line holds and the fed has stopped hiking rates it is very possible that the Nasdaq could breakout of the descending parallel channel.
Tesla - Breaking out of a wedgeTesla - Short Term - We look to Buy at 177.90 (stop at 163.33)
The medium term bias remains bearish. Broken out of the wedge formation to the upside. Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Preferred trade is to buy on dips.
Our profit targets will be 237.00 and 262
Resistance: 200.82 / 237.40 / 265.25
Support: 169.91 / 166.19 / 150.83
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AMD ~ Heavy Demand Area AMD, the semiconductor leader, and monstrous Tech Company has taken a very big hit on its stock in the past 12 months. AMD Has issued guidance worries on demand woes and earlier, supply woes.
No matter these shorter-term issues that are going on within AMD, and in the Macro-Outlook of the Economy, AMD is attracting and will be attracting many buyers at these much more fair-valued prices.
As AMD has continued to fall it has hit a significant Trendline that has acted as strong support for the past year's downtrend. Along with this trendline tap, AMD continues to enter a major demand zone from pre-covid levels. The High $40s to $60 will remain a very demand-heavy spot for AMD as many buyers step in.
Long Term buyers and bounce Buyers are anticipating for a bounce off these trendlines, and possibly a bottom near this solid demand zone. AMD's p/e ratio has fallen dramatically to around 20, resigning a fair price to the company's stock rather than the high $100s.
Many Buyers will be seeing value at this price.
My thesis is that this can be a smart Long-Term Entry for scale-ins on the company's stock. Buying at these demand levels will carry lower risk/reward with AMD reaching fair value, and a huge demand zone.
I personally believe years out, this is a perfect acquiring zone to start!
Not your blue chip tech company, that's the good thing!NYSE:PSTG in the data storage industry breaking out from a fisrt base after it bottom.
NASDAQ:SPSC in the computer software industry, specifically in supply chain solutions, breaking out from a fisrt base after the bottom.
Both are 1st in their IBD Industry Rank.
PSTG made a cup that could fuel a good move, and SPSC has its next resistance +25% away.
Which one do you like better?
GOOG: Inverted Cup with Handle Google is playing out an inverted cup and handle with a conservative price target of $73-76. The price target should be lower, around $71.50, but I shaved a little off because there is some old support from the Jul-Oct 2020 period that should buoy the price, at least for a bit.
The daily EMA ribbon flipped bearish in April and since then a precipitous 38% downslide has ensued, the most recent retest of the daily EMA on Oct 24th yielded another crushing rejection. Price should be ready to run again to the downside as it recently slipped through a support/resistance line unrelated to the pattern around $89.40 and has since completed a pullback and been rejected.
Tech will continue to rise and build baselooking for $xlk index to continue bullish momentum into next week and at least hit B leg. Notice the rising bear flag into the previous highs. I would like to be out before the apex complex and give way to another direction or even if a continuation direction. Price action expected to move to $140 area. There is a base building, and likely will need a handle to support. At that time, possible bearish position will be created.
Not trading or investment advice. Just for my education, learning, and trading experience.
$MIRM september accumulation 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Mirum Pharmaceuticals announced a shelf offering of $10 million today. This created an excellent buying opportunity which we used as our first entry. My team will be using the rest of September to build our position. We are expecting a bullish run before the end of the year, but if one happens sooner, we will of course act in our favor and do what we think is best.
Entry: $22.80
Take Profit: Somewhere above $32
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Apple - All eyes on the Apple earnings tonightAfter some other companies have already reported their earnings for the 3rd quarter of 2022, today, eyes are on Apple Inc. as it is poised to announce its own results after the market close. We do not know what the reaction will be; however, we do not think it really matters as the broad market is failing to deliver expectations. We believe it is just a matter of time until something breaks in the stock market, and with the FED decision coming out next Tuesday, that event might be around the corner. For that reason, we stay on the sidelines, as we outlined about two weeks ago, waiting for the right opportunity to get back into a short position.
Illustration 1.01
Illustration 1.01 shows the daily chart of Apple stock. It bears a resemblance to the MSFT chart before the drop (after the earnings report). We would not be surprised to see Apple show a similar reaction to the earnings release. Therefore, we voice a word of caution to investors.
Technical analysis - daily time frame
RSI and Stochastic are bullish. MACD is also bullish but stays in the bearish area. DM+ and DM- are neutral. Overall, the daily time frame is slightly bullish.
Illustration 1.02
The image above shows the daily chart of Microsoft stock.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Meta - Meta Platform joins the party! Yesterday, the price of Meta platform stock crashed nearly 20% after the close when the company reported its earnings for the third quarter of 2022. With its abysmal report, Meta joined the party of underperforming companies in the current earning season. Revenue was down 4% from a year earlier, while costs and expenses rose 19%.
Revenue = 27.71 billion USD (-4% YoY)
Costs and expenses = 22.05 billion USD (+19% YoY)
Revenue from the family of apps, including Facebook, Instagram, Messenger, Whatsapp, etc., decreased approximately 3.6%, while revenue from the reality labs fell by about 49%. That is no surprise to us since we warned about the earning season for the third quarter being weak. Indeed, we stated that downgrades in outlooks and misses in estimates would reinforce our thesis about the market progressing into the second phase of the bear market. With that being said, we believe Meta platforms Inc. still has a long way to go before reversing its primary trend to the upside.
Illustration 1.01
Illustration 1.01 shows the daily chart of the Meta Platforms stock. The red arrow shows the price drop after the company published its earnings for the 3rd quarter of 2022.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are bearish. Overall, the daily time frame is bearish.
Illustration 1.02
The image above shows the resemblance between the current and previous earning seasons.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Alphabet - Earnings report sends shockwaves through the marketYesterday, Alphabet sent shockwaves through the stock market after the close when it published its earnings report for the third quarter. The revenue was up 6% from the year earlier, and earnings per share stood at 1.06 USD, missing analysts' estimates. This earnings report is yet another line to confirm our thesis about the market progressing into the second stage of the bear market, with companies warning about the slowdown and failing to deliver expectations.
We expect this trend to continue during the next earning season and slowly lead the market into the third phase of the bear market. The same view is supported by the fact that the FED is about to increase interest rates next week and further tighten economic conditions, making a primary trend reversal very unlikely.
Therefore, we believe the reality will soon creep back into the market, and those who were buying the dip in hopes of catching a bottom will fulfill our prophecy once they sell those shares back to the market. As a result, we expect Alphabet to continue lower with the rest of the stock market.
Illustration 1.01
Illustration 1.01 displays the daily chart of the Alphabet stock. The yellow arrow points to the price retracement toward the 50-day SMA, representing a strong correction; the same retracement can be observed on the daily chart of Apple, Microsoft, General Motors, etc.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are all bullish. DM+ and DM- are also bullish. Overall, the daily time frame is bullish; however, the data does not reflect the drop after earnings. Therefore, we expect the daily time frame to turn bearish today.
Illustration 1.02
Illustration 1.02 shows simple support and resistance levels for Alphabet stock on the daily graph.
Technical analysis - weekly time frame
RSI, MACD, and Stochastic are slightly bullish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Microsoft - Slammed after the earnings report Prior to the beginning of the current earnings season, we warned investors that this would be a volatile period preceding the ECB and FED meetings, characterized by companies narrowly beating market expectations or failing to fulfill them. We also stated that this would enforce our thesis about the second stage of the bear market and progression deeper into the recession.
It did not take long before earning season arrived, and companies started to prove our predictions true (Adidas, Alphabet, Mattel, etc.). Unfortunately, we expect this trend to continue in the next earning season; indeed, we believe it will be far worse than the current one.
Yesterday, Microsoft announced its earnings for the third quarter of 2022, in which it reported an 11% increase in revenue and a 6% increase in operating income. Additionally, the company reported a 14% decrease in net income and a 13% decrease in diluted earnings per share. That subsequently led to a drop in the price of MSFT stock by more than 6.5% after hours.
In our opinion, this merely highlights what we have been reiterating for a while. The market is in recession, and the recent bounce off the 2022 lows represents merely another bear market rally predestined to fall later. With that being said, we expect economic conditions to worsen next week with another FED rate hike.
Illustration 1.01
Illustration 1.01 shows the daily chart of Microsoft stock. It can be seen closing at 250.66 USD yesterday; however, after the close and earnings report, it plunged more than 6.5% to 234 USD. This dramatic price action occurred despite Microsoft announcing an increase in revenue and operating expenses compared to the same period a year ago.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are all bullish. DM+ and DM- are also bullish. Overall, the daily time frame is bullish; however, the data does not reflect the drop after earnings. Therefore, we expect the daily time frame to turn bearish today.
Illustration 1.02
Illustration 1.02 displays the daily chart of MSFT stock and simple support/resistance levels.
Technical analysis - weekly time frame
RSI, MACD, and Stochastic are flattening, trying to reverse. DM+ and DM- are bearish. Overall, the weekly time frame remains bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
QQQ bounce off support of channel from 2009Here are the major channels that I am watching for QQQ. You can see that last week we had a strong bounce off the blue channel's support. The blue channel was formed off the low in 2008-2009 and the subsequent massive bull rally for the past 12 years. You can also see that QQQ lost the even stronger bull channel that started in 2016.
The question now becomes if the lack of QE from the fed and continued interest rate hikes will cause QQQ to test or even fallen into the green channel formed after the dot com crash and the recovery up to the crash in 2008. You can see that in both 2018 and 2020 that QQQ did exactly that. We could also trend sideways for 2023 and test the blue channel then, which would be lower but not by much.
Personally, I have started to be a bit more bullish and put a little money back in the market. This would be a good place to find support for QQQ. Looking at the 1 Week time scale, it is not clear that there is a lot of upside in the near future. As noted, we could still fall a lot, but you can't live in fear for ever. I don't think the economy is as bad as the media is making it out to be, but this may be a case of don't fight the fed on the way down.
#ARKK reversing off anchored VWAP & 50dmaARKK still stuck in range of this bearish channel since bottoming in May. If you follow the anchored vwap from the recent high of the most recent rally, we are also starting to reject this Vwap. Additionally the 50dma is acting as resistance. Big resistance evident at $46
I think this will work itself lower and possibly retest the big horizontal support zone at $32-$33 in the coming weeks...
SELL NASDAQ - BACK TO NORMAL BELOW 11kMost of Q3 stocks earning so far are green, maybe last positive earnings report if FED didn't cut interest rate, but food and energy crisis will drive prices higher and there will be no chance to decrease inflation other than rising interest rates to lower demand and so prices.
At this point, DXY strength will continue and US equities will bleed especially in tech sector.
$TECS a 50% gain? 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
My team entered $TECS today before market close at $39 per share in order to secure gains from the possible upcoming market downturn.
Our portfolio as of 7/20/22: $TECS
OUR ENTRY: $39
TAKE PROFIT: $58
STOP LOSS: $37