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Cup and Handle pattern forming on TSLA, could rally higher.TSLA is forming what appears to be a Cup and Handle formation, and looks primed to continue upward. Once the 248 or so level breaks, we should see a nice move up to the range around the 200 day moving average in Red, which also coincides with a gap in the price action around 257.50. -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress. Also, for any crypto traders out there, Binance just launched their US exchange (Binance US.) If you need a link to go sign up, click here--> www.binance.us
NASDAQ:TSLALong
by Deftsuo
2
Weekly double top with bearish div and declining volume on AMD.AMD looks to be double topping on the weekly chart with some clear weekly bearish divergence on both the volume and on the RSI. We can see price has been rising on declining volume, and the relative strength of this latest push up is failing to break 70 on the RSI on a weekly basis. Potentially might see this one pull back to the 50 week MA around $26, or perhaps even lower toward the 200 MA around $14. This is a very bearish looking chart in my opinion. MA Guide (All weekly for this post): 50 MA in Green. 200 MA in Red. -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress. Also, for any crypto traders out there, Binance just launched their US exchange (Binance US.) If you need a link to go sign up, click here--> www.binance.us
NASDAQ:AMDShort
by Deftsuo
Ascending triangle on Microsoft, could make new highs soon.MSFT has been forming this ascending triangle pattern since early August, with a series of higher-low's and a relative flat line of resistance around 139.50 or so. Measured move of the break-out would put the price at around 147.50. -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress. Also, for any crypto traders out there, Binance just launched their US exchange (Binance US.) If you need a link to go sign up, click here--> www.binance.us
NASDAQ:MSFTLong
by Deftsuo
Silver approaching an important S/R pivot point. Gold and Silver have been on a strong rally following some concerns in the market and with a potential recession on the horizon. Silver is up about 30-35% off of the 2018 lows, and is currently approaching a historically important zone of control between 18.8-21. We can see this level acted as a major resistance level after the market crash in 2008, and twice more in 2009/2010. Later in 2010, price crushed through this zone and ran to new ATH's, before eventually pulling back to test this 18.8-21 level as new support, and sure enough, it held 3 times before eventually breaking in late 2014. In July of 2016, we made another run at this level and were rejected. The gist of all this is to say this 18.8-21 level holds a lot of historical significance, and has been a critical pivot point of support and resistance for the last 10-11 years. MA Guide (All Weekly for this chart): 20 MA in Purple. 50 MA in Green. 100 MA in Yellow. 200 MA in Red. What to watch for: Bull-case: Break above with conviction above this zone into a bullish S/R flip. Bear-case: Rejection at this level with conviction before a pull back to the daily MA's and or the weekly MA's. I also just opened my own free telegram channel for those interested (I post my thoughts on the market in there frequently): t.me -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress. -As a side note, if you would like to support a college kid and the TA I do, I accept BTC/ETH/LTC/USDC donations. Any and all donations are greatly appreciated and really do help me out! Thank you to all you who donate. :) BTC: 3F13946JWfNskLDu2oi3FTRV65FV9yK7U8 ETH: 0xe032430f158966F4118af917b5F1e024949697bB LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj USDC: 0x1F6d47a9330897d6043886d64738A2E255dd0b92
TVC:SILVER
by Deftsuo
2
If a recession really is looming, what are the levels to watch?Taking a look at the SPY on a monthly chart can really put things into perspective. Some warning signs about a possible recession looming got me thinking about what levels to the downside would interest me should the market enter into a recession and begin to head down. Here is what I came up with: 207-215: This level was a prior resistance level back in 2015 that we eventually broke through and briefly flipped to support in late 2016 before rally higher. In the event of a pull back, we'd like to see this level hold again should it be tested. 173-183: Throughout 2014-2016, there was a lot of wicks into these region, indicating that buyers were willing to step in and defend these levels. Circumstances may be different on the way back down, but this another level I am watching. 147-157: This level has a lot of confluence, and is VERY interesting. It was the peak before the dot com bubble pop and before the market crashed in 2008. The percentage drop from the current peak (302.23) to this level (150) is about a 50% drop, which is in line with both of the prior two market crashes (which were between 50-58% from peak to bottom.) Circumstances are very different today then they were back then, so I don't see this level as a likely target during a recession, but it is on my radar as a possibility. MA Guide (All Monthly for this chart): 50 MA in Green. 100 MA in Yellow. 200 MA in Red. I do not have a crystal ball that will tell me where the price will land during a recession and or a market crash, but based on prior price action and what the TA tells me, these 3 levels are worth watching in the event of a downturn. -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress. -As a side note, if you would like to support a college kid and the TA I do, I accept BTC/ETH/LTC/USDC donations. Any and all donations are greatly appreciated and really do help me out! Thank you to all you who donate. :) BTC: 3F13946JWfNskLDu2oi3FTRV65FV9yK7U8 ETH: 0xe032430f158966F4118af917b5F1e024949697bB LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj USDC: 0x1F6d47a9330897d6043886d64738A2E255dd0b92
AMEX:SPY
by Deftsuo
NFLX approaching the 100 week moving average, potential reversalNFLX fell off a cliff following some bad FA news. The sentiment around the stock is pretty bearish given this, and there has been tons of bearish articles that have come out, but I think this could be a fantastic buying opportunity as it is close to its 100 weekly moving average, which held the price on the previous drop back in October-November of 2018. High risk per usual given the bad news recently among other factors (such as increasing competition.) If price has a weekly close below the 100 week MA, we will most likely be eyeing the 200 weekly MA as the next potential reversal point. Entry: 303-320 Target 1: 50 week moving average (currently around 338.) SL: Weekly close under the 100 week MA. Only focusing on 1 target for now as need to see price develop over the next few days and weeks to get a better idea of whether or not this will rebound back toward that 360-370 level. -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress. -As a side note, if you would like to support a college kid and the TA I do, I accept BTC/ETH/LTC/USDC donations. Any and all donations are greatly appreciated and really do help me out! Thank you to all you who donate. :) BTC: 3F13946JWfNskLDu2oi3FTRV65FV9yK7U8 ETH: 0xe032430f158966F4118af917b5F1e024949697bB LTC: MVDbAhm2yoyCzeRnayMN61oZp75MZ5SZVj USDC: 0x1F6d47a9330897d6043886d64738A2E255dd0b92
NASDAQ:NFLXLong
by Deftsuo
TSLA is back within a strong support zone, could see a bounce.TSLA is back within the territory of a previously strong support zone around $180, as shown by the white box. We saw this zone hold several times back in 2014-2016, and it has proven (at least historically) to be a zone in which buyers will step in. Following all of the bearish price action and overly bearish sentiment in my opinion, we could see a potential short-squeeze and or rally back up to the $240-250 level; as shown by my yellow box. Moving average guide (All Weekly for this post): 50 weekly moving average in Green. 200 weekly moving average in Red. Area's to watch: $178-190; as this was a strong support zone back in 2014-2016. $240-250; as this previous support zone should now act as resistance. 50 and 200 week moving averages; as they could also be potential sell targets if TSLA does bounce from this support zone. -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
NASDAQ:TSLALong
by Deftsuo
Bullish S/R flip and DMA Golden Cross on UPS.UPS is currently building support on top of old resistance around $112 (which confirms the bullish support and resistance flip), and is consolidating in what looks to be a bull flag-like pattern. We also have a daily golden cross (50 day moving average crossing the 200 day moving average) and we could see the momentum continue to carry this stock higher. R/R is pretty good here, but I've had what I thought were good setups turn south pretty quickly (EA and SQ for example), so be cautious and use proper risk management if you decide to take this trade. Moving average guide (All daily for this post): 50 day moving average in Green. 100 day moving average in Yellow. 200 day moving average in Red. Entry: 112.30-114.50 Target 1: 118.00 Target 2: 120.60 Target 3: 125.00 SL: 110.50 (below the 50 and 200 day moving averages, and below our support zone at 112.) -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
NYSE:UPSLong
by Deftsuo