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Shopify Has a Bullish TriangleShopify has been one of the strongest tech stocks since early 2019, leaving Amazon.com and even Tesla in the dust. It’s been quiet recently, consolidating in a tight range, and now that pattern is morphing into an ascending triangle with breakout potential. SHOP began July by moving above $1,000 for the first time, having tripled from early April. It tried to gap higher following a strong quarterly report on July 29, but MACD was falling so the sellers knocked it lower. (This looks very similar to Nio about three weeks ago.) But now MACD is starting to turn positive. SHOP has also held above its August 20 high and 8-day exponential moving average (EMA) yesterday. Those three patterns suggest the short-term momentum may be turning more positive again and moving back in unison with the longer-term uptrend. This may be a sign of momentum buyers returning. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:SHOPLong
by TradeStation
1
Etsy Has Deepest Pullback Since its Rally BeganE-commerce has grown dramatically in the era of coronavirus, as most traders know. A lot of the attention has obviously focused on the big names like Amazon.com, but smaller player Etsy has risen even more. ETSY crushed forecasts the last time it reported on August 5, with revenue more than doubling from the previous year. The stock ran into the news and then drifted lower. It’s now approaching some interesting levels. First, ETSY’s low today of $116.63 is slightly above its early-July peak. Second, it’s barely $1 above the 50-day simple moving average. That’s the closest it’s gotten to the 50-day SMA since early April. The shares are also oversold based on stochastics. Given the short-term weakness, traders may wait a little longer before doing much with ETSY. There could also be opportunities nearer $110 if there’s one final push to the downside. Still, ETSY’s been a very strong name in an important corner of the market. It may be time to start watching it around these levels.
NASDAQ:ETSY
by TradeStation
$RUN can fall in the next daysContextual immersion trading strategy idea. Sunrun Inc. engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The demand for shares of the company still looks lower than the supply. This and other conditions can cause a fall in the share price in the next days. So I opened a short position from $36,55; stop-loss — $39,02. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
NASDAQ:RUNShort
by KozakHlib
$INTC Trending Upwards?Hi all, I am a bit new to TA and trading in general, so forgive me if I am making incorrect assumptions. I recently bought into INTC @ 48.75 as I am bullish on their short term and long term success, and I feel they are terribly undervalued at current. The share price recently dumped following the Q2 earnings report, despite their beating of estimates, reflecting their guidance for the Q3 report. Despite this and the ever-increasing market cap of $AMD and $NVDA, I still believe $INTC to be a solid company due to their well-established position in business computer chipsets and servers along with an increasing interest in cloud-based computing from companies such as $MSFT, which should hedge against encroachment by both $AMD and $NVDA. The sustained transition to online and remote learning, business, and medicine we have seen and will see in response to the COVID pandemic will likely only benefit the company due to the need for better hardware and cloud-based services to carry out these tasks from schools and businesses. Overall, they seem to be following the green trendline upwards and will likely see growth ahead of Q3 and further on, despite their guidance issued Q2, which I feel caused an overreaction in share price dip. I hope I am not too far off base with this prediction, and I would welcome any criticism or advice regarding TA or DD. Thanks so much!
NASDAQ:INTCLong
by AAInvestor_500
CSCO- Good Buy CurrentlyFA: Higher earnings than expected but still a 12% yearly fall. Service Sector of Business Has grown much larger than the Hardware side If COVID is to ease in the next 6-9 months, the forecast is positive for CSCO TA: Approaching Support Level after strong retracement Downside is far less than upside if an entry was made in this area. Fibonacci Retracements follow the S&R Lines. -Megalodon Please SHARE/LIKE & Comment and PS:Please follow responsible trade management, this is not financial advice
NASDAQ:CSCOLong
by BoSukas
8
Long term Nasdaq pattern (refined)Relooked into a previous patterned and added some Fibonacci into the equation, as it appeared to have some pattern in the background. Lo and behold, there appears to be some Fibonacci pattern and here is what it looks like: 1. Each long term rally has a base triangle pattern of similar magnitude. 2. The next stack pulls back to form the bottom of the next triangle. 3. The peak of the new triangle is in Fibonacci extended relation to the previous triangle, in decreasing target level of 1.62, then 1.5, and currently possibly 1.38. 4. All triangles give rise to a consolidation level at 1.38 Fibonacci extension for the next triangle. 5. So, the pattern looks like 1.38 & 1.62 extended target, 1.38 & 1.5 extended target, 1.38 & an expected 1.38 extended target. 6. The reducing target is due to age of the major bull cycle, as well as a compressed time frame for each succeeding triangle having about 38% of the time the previous triangle took to peak. Given the above parameters, it is calculated that the next peak for the Nasdaq futures NQ1! should be about 11225, and the time frame puts it into the month of August. Consequently, should see the bullish momentum of NQ1! struggle to increase momentum further, and perhaps roll over soon. Just an observation of a pattern model that appears to be maturing very soon.
CME_MINI:NQ1!
by Auguraltrader
1
Apple... A $2 Trillion Company?Apple is truly massive. Their market cap is nearing $2 trillion. I know no one who saw that coming. The interesting thing is that maybe Apple's growth is a sign of the global economy actually thriving. More iPhones, more wealth, more apps, and more connectivity. Is that really bearish? Sounds bullish. It is hard to be a glass half full person. Apple's tremendous 100%+ move higher since the Coronavirus crash is impressive. I've added it to this chart with the percent change tool. Now, before we get too bullish and optimistic we have to always consider the reality of the situation. How much higher will Apple go? Or more importantly, how much higher will Apple go before it is disconnected from reality? I've added the 50-day moving average and 200-day moving average to show how fast it's moving compared to a slower, rolling average price. Wow! Anyways, I am not going near Apple at these prices. So I will watch. It is a great boom for the technology sector and growth of the digital economy. But, I also see that maybe it's gone too far too fast. I would add around the 50-day moving average, but if it crashes, I will wait. The 200-day MA is generally a place I like to buy for the long-term. Let's see and thanks for reading!
NASDAQ:AAPL
by scheplick
15
This week tells all? - Nasdaq futures chapterThe Nasdaq technology index has been leading the markets since March, and has been pushing higher and higher. However, of late, the push is weakening visibly, as seen in the chart, and also through the MACD technicals. More recently, a short rising wedge Is appearing and with such wedges, I would be looking for the breakdown of the wedge support (red line). But for now, it appears that the. Nasdaq is over stretched, perhaps falling over itself, and has a potential to be rolling over. This is just an observable early warning pattern, one that should be heeded with caution, not to go short - yet. Keep an eye on this leading market (indicator)... it’s about time.
CME_MINI:NQ1!
by Auguraltrader
Nokia remains one of my favorite long-term technology playsI've been buying long-term (2022) calls on Nokia, and they're performing very well this past week. The good news for Nokia has kept rolling in throughout this coronavirus downturn, and Nokia announced today that it has declared a total of 3,000 patents related to 5g. Last year it looked like Nokia was falling behind in the 5g race, but ever since it suspended its dividend to free up cash flow for R&D, it has been fast making itself a 5g leader. Along with BIDU, NOK is one of my favorite long-term tech plays due to low valuation and a large number of hot new technology patents going into product development that should pay off long-term. I will buy more calls on the dips.
NYSE:NOKLong
by ChristopherCarrollSmith
5
Microsoft Hitting Major Channel Resistance. (MSFT)We all know if you go back in time till now on Microsoft it has an insane parabolic curve. I currently have a channel drawn out between the two lines. Arrows and red line is Resistance. Green line is support. We are seeing the overall trend from the last impulse hit the top level of Resistance in the channel, where we have seen previous good size selloffs occur at. The ema dots are all red and the custom rsi has already dropped off. I'm in favor of a short up here at this top level of range. I think it would be healthy to see a pullback here.
NASDAQ:MSFT
by UnknownUnicorn2319099
4
$SHSP can fall in the next daysContextual immersion trading strategy idea. SharpSpring, Inc. operates as a cloud-based marketing technology company worldwide. The demand for shares of the company still looks lower than the supply. This and other conditions can cause a fall in the share price in the next days. So I opened a short position from $7,91; stop-loss — $8,86. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
SShort
by KozakHlib
4
29.07.2020 - Bitcoin - CME futures Hi Traders! After many weeks of nothing happening, the ices finally broke last week and Bitcoin made a decision and went up. We are currently balancing at $ 11,000. Today, however, I wouldn't like to do a traditional analysis of Bitcoin, but I would like to point out one fundamental thing that isn't much discussed. CME futures is a US stock exchange where Bitcoin is traded. As this is a classic stock exchange, it is common for its gates to be closed over the weekend. However, as you know, cryptocurrencies are also traded over the weekend. If Bitcoin price on the crypto exchanges moves more significantly over the weekend, the CME futures exchange with a "gap" will open on Monday morning. The GAP gives us a price "gap". Why is this important? GAP on CME futures mostly acts like a magnet and in the end it can attract the price. This usually happens in two cases: 1. The GAP shall be completed on the given week of its opening. That would mean we're going under $ 10,000 again this week. 2. The GAP is filled in only after the completion of a certain cycle on Bitcoin. It can be a week, but even a month. CME futures GAPs act as a magnet for the price and in the vast majority they get used to pulling it back. Will it be the same now? May the crypto be with you!
CME:BTC1!
by DolleroTechnology
1