$SNAP Trend Rejected @ $65 Snapchat met heavy resistance yesterday at the 65$ level, will not take any positions.
TECH
$MU vs $AMD*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 has been analyzing $MU for the past few months. After consolidating in the $74-84 range for the past few weeks we finally believe that $MU is ready to take its leap to go past $100.
$MU is a semiconductor company much like $AMD. With this being said investors should expect these two to uptrend similarly short-term along with other semiconductor companies.
For long-term investors $AMD is the chip tyrant that will most likely dominate its competition, but that doesn't mean that we're not going to show $MU some love in the meantime.
We entered $MU this morning at $79.36 and plan to take profit 1-2 months from now at $104.
Entry: $79.36
Take profit: $104
Stop loss: $75
If you want to see more, please like and follow us @SimplyShowMeTheMoney
Will Fans...Unite?FANS back at historic resistance from a few weeks ago. With the murmurs of excitement in esports, looks like things are picking back up from related names. The biggest question is will the momo keep going or does it fail at resistance again? Still really light on the newsflow so could just be sympathy sentiment driving momentum.
"FansUnite has also achieved several fundamental milestones in the last few months. Namely, the company entered a brand partnership with Cash Live Inc. The goal of this deal is to launch FansUnite branded live games on the Cash Live mobile app. The company already has a minority interest in Cash Live, which offers a free-to-play gaming app designed for mobile devices. The tech start-up has a poker and social casino game show platform with daily live-streamed shows paying out real cash to winners."
Quote Source: 4 Hot Penny Stocks To Watch Today Ahead Of Esports Industry Growth
Back at the Gap for LLNWLLNW back at historic support/resistance and right below a historic gap level from 2019. Right now this level is acting as resistance and has done so for weeks. No news isn't always good news but hopefully, the company starts getting more vocal:
"Not much has been announced since its last round of earnings. However, the company mentioned “formalizing broader plans to evolve” its offerings beyond video to “take advantage” of its network during low peak times. “We plan to hold a strategy update session in early summer. An announcement of the date and participation details will be shared approximately one month in advance of the event,” said CEO Bob Lyons earlier this year. So as summer begins, LLNW stock could be in focus."
Quote Source: 4 Hot Penny Stocks To Watch Today Ahead Of Esports Industry Growth
Is this just a Fib or is SLGG gonna finally make a move?Obvious play on words but clearly SLGG is testing that same resistance that lines up with the fib line itself. Esports conversations are beginning again. I'm wondering if this will be another cycle for these stocks.
"Shares of SLGG stock have steadily climbed over the last month. In fact, between May 14th and June 14th, Super League’s share price has jumped from around $4 to just under $6 this week. One of the things that helped supercharge Super League was a bullish analyst rating from HC Wainwright last month. The firm started coverage on SLGG stock with a Buy rating and a $6 price target. As the penny stock approaches that target price, it looks like traders remain bullish on the company. A few weeks ago, Super League announced the acquisition of Mobcrush. According to the company, this helped establish one of the largest “verifiable and addressable audiences of passionate gamers in the US.” Mobcrush operates a live streaming tech platform, which boasts a roster of gaming influencers and more than 4.5 billion accumulated fans * subscribers across social media sites."
Quote Source: 4 Hot Penny Stocks To Watch Today Ahead Of Esports Industry Growth
$PLUG Important Price Level PLUG looking to make its next move that will be determined by the price action in the coming week, we have a very decent bullish setup with a nice trading range that gives solid risk rewards profile. As you can see we have multiple areas of support and resistance and are currently sitting on the $31 support level, a very important price to hold. More bullish sentiment is a bounce off its 200DMA that can carry this higher short and long term.
In the next few trading days we can expect one of 2 things to happen. Holding 31$ and a push towards $35 again would indicate a long term downward channel breakout attempt. ADX supports the movement and breakout as well. Second thing that could happen is market isnt ready to take this higher yet, and we see another retest of $25 range to form a double or triple bottom for a breakout in the future. Watch closely.
$RBLX Retest $100 Short Term RBLX with a decent swing setup here back towards $100 short term, support on top of the previous resistance level showing a solid reversal on a 4HR chart.
$SNAP Looking to Retest ATH As I updated a short while ago, snapchat did in fact break out of its trading range pushing near the $64 price level, and since then, had a healthy and expected pullback that found support on the top of the channel which is a bullish signal IMO. The price action in the next 2-3 trading days will determine if the market wants to take this higher back towards the $70 range which I believe will show strong momentum at the open tomorrow. I previously had a position in shares, but will instead be doing a multi-legged call position to maximize return. According to the price action in the morning tomorrow, positions I will most likely take are below. GLTA
6/25 $65 Calls
7/16 $65 Calls
7/16 $70 Calls
Not financial advice.
HYPER GROWTH IS BACK IN TOWN, CATHIE WOOD IS IN THE ROCKET SHIPHyper growth has crashed by over 35%, inflation data is not as bad as everyone thinks, 10 year treasuries have pulled back, commodity prices have dropped massively, lumber has dropped from 1700 to 1100, fed likes to print money BRRRRRRRRR. This is not financial advice and I'm not advertising the buy or sale of ARKK etf or its holdings.
Stocks - MSFT Correction ImminentIdea for MSFT:
- Bearish Bat Harmonic.
- Price rejected from sliding parallel of Top Channel.
- Price must return to median line.
- Re-test the top of the risk range, rejected means double top/Distribution and a high conviction short.
GLHF
- DPT
Long Position USD/CAD 3H N0 KAP$ SIGNALLong Position USD/CAD 3H N0 KAP$ SIGNAL
TP-1 : 20900
TP-2 : 21000
I like how $DOCU looks like going fowardI had my $DOCU on my watchlist for a while and I believe this is the time to be bullish on the stock!
Looking at the technical on the daily chart, I can point out the following:
1. The stock has bounce yet again off major support level between 180$-190$,
2. MACD is turning bullish,
3. RSI is in mid range, which I believe its a good indicator when a stock is trending up but does not get overbought,
4. During last week Friday sell off and looking at today's support, the volume of those red candles are lower if you compare the volume on the green candles. This could indicate that there are more buyer the sellers at this prices?
5. More broadly, it seems that some hedge found are investing again in Growth stocks a.k.a. Tech stock. This could be further cathalyst going foward that could push this higher.
6. I see possible level at 198.97, 202.34 and 205.66 in the short term and longer term going back to 230$.
Of course there is always big MACRO risk! To mention a few:
- Rising inflation and increase in 10 years treasury yield,
- Increase in market volatility,
- another rotation out of growth stock into value stock,
- Tax increase
- The bull market will finally be over :(
Do your own DD!
Happy investing!
NAS100Here I have provided a detailed view on as current chart set up.
Some opposing fundamentals but following by what's going on this is my view
Bearish Count confirmedDiamond forming now on the 5 min chart in wave iii-iv
Now that we know that yellow zone has been held as resistance, we should expect a continuation down. Not sure if crypto is leading or the nasdaq, but if you look at them they're very correlated now.
I was sweating a bit yesterday but that sharp selloff this morning confirmed that we have topped in the nasdaq.
Give me BLOOD!!Bearish count is intact and favored.
Bullish count is only possible IMO if we can rise above 13,800 again.
Otherwise, looks like we might get a steep drop soon.
$SNAP Closed Trade - Rejected Resistance Level Closed position at $62 from $53 Entry. Price was rejected at the $64 resistance level, solid trade GLTA still holding.
The breakout has not happened yet on MELI. This is our plan.Let's take a look at MELI. We can see two relevant aspects on the chart.
a) The price has broken an ascending trendline that has been working since MAY 2020
b) The price has been correcting for the last 4 months almost, and the main structure we can observe is a descending Wedge.
Based on those two items on the daily chart, this is our trading plan.
-We can see a clear resistance zone at 1600 - 1650 that has been tested 3 times. Therefore we don't want to take any setup below that level. So, we will wait for the price to reach it first. IF that happens and we see a move above that level, we want to observe a clear corrective pattern. Here we have defined an ABC structure (what we are looking for is something with similar proportions as the previous corrective structure that happened at the same level we are waiting for this one.
-If all the scenarios are aligned, we plan to take a setup, as you can see on the chart. The two levels above the resistance are the broken ascending trendline (working as a dynamic resistance) and the previous ATH. We think that a setup like this one can provide us with a 1.7 risk-reward ratio and a resolution between 10 to 20 days.
Quick Questions
And what if this never happens? - We don't trade, darling
Ok, smart guy, and what if you wait for all this and suddenly you have a stop loss? - We just take it with 1% of our account with a smile on our faces. Stop losses are a fixed cost of trading; start dealing with that instead of avoiding it.
Why don't you buy it right now? - Because Momentum trading / Swing trading is about waiting for confirmations and creating scenarios with a good risk-reward ratio (which means defining stop levels) so after 40 setups, you can have an edge (or a statistical advantage)
Thanks for reading, guys! all your questions and ideas are more than welcome in the comment box! Have a great week.
APPEN LTD.*** This is just for educational purpose, not an investment advice. I am not any financial advisor, just sharing my own analysis.
BFLY On The Way To $20BFLY Current Price $11.75 Price Target $20
Innovative tech has been killed since February but the core difference between most innovative tech and BFLY is BFLY is a profitable company only trading at 5xPE. This is very cheap when you consider the S&P is trading at 20 PE (which means BFLY is trading four times cheaper than the market). BFLY has created a handheld ultrasound that is significantly cheaper than a normal ultrasound machine. This product is going to be used by developing countries in the future.
Bulls MIALooks at how many times we've flipped at that yellow zone.
Past price action tells us a reaction is likely there.
Looks like we're hitting a wall.
If we can break through this zone, we'll push to new highs.
BUT,
The upward price action looks corrective to me.
C wave extended 1.382 of the A wave.
Bearish Bias remains.
Buying the SQQQ. Stop loss if the NDX breaks above 13,850 or so.
$INTC Update - Reversing NicelyINTC showing a strong bullish reversal back to fill the gap near $62, which is my first target. Letting this one ride out
NASDAQ possible long continuation. A broad idea of what to expect for the next few days for tech stocks and NDX instruments. Would advise against rushing into a short here but anything can happen, GL.
Hit ResistanceWe're right in my 2nd target zone for this rally.
Looks like the price action has gotten stopped in that zone.
I see this as a opportunity to short.
I would set my stop at 13,800.
Watch Crypto. See if it follows tech downward.
Or maybe they'll just PAMP it up again. Who knows with all this free money.
