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TECH

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!
NASDAQ:DOCULong
by aristocks
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.
NASDAQ:MELI
by ThinkingAntsOk
2
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.
NYSE:BFLYLong
by Value-Invest
2
$SNAP Update - Looking for Support Snapchat cleared through its channel range the other day, topping nearly $61, a pullback today seems healthy with an almost 7% move the previous day. What I am looking for next is some support on top of this ascending triangle, if price can hold above approximately $58.50 for the week, I think it will give traders yet another opportunity to enter for a move towards $70. Watch tomorrow as the closing candle green will give this further strength in the near term.
NYSE:SNAPLong
by chartxzy
$GME Update, Breakout +18% Today - Position up 40%As I predicted 2 weeks ago, GME showing parabolic momentum breaking out of its consolidation channel. Currently sitting on the resistance point of $211, which is the 38% Fibonacci retracement level, a strong close above these levels can indicate a move to the next 50% retracement level near $260 price point. Seeing a lot of resistance on the Level 2 near $211, but with this stock being Gamestop, I expect nothing short of surprise to how far this can move.
NYSE:GMELong
by chartxzy
4