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Triple Bottom Setup on AAPL, Target at 205Chart Pattern/Trend Analysis The main view of this trade idea is on the Daily Chart. The Company stock Apple (AAPL) appears to have exhibited a triple bottom around the 150-155 support zone over the last 3 months. The stock had 3 declines, the first around the end of January, the second in late February and the last in mid-March. At the time of publishing the stock is testing resistance around the 180 price level. Expectations are for a rally towards the 205 price level. A negation of this view will be observed if AAPL falls back towards the support zone. There is some positive trending relative strength on AAPL on SPX as well as TLT. These occurred around March 21st. Technical Indicators The technical indicators corroborate a bullish view on the stock. There was a switch in the Supertrend indicator around the 160 resistance level with a close above. Also, AAPL had a positive crossover on its 50-day SMA. The Awesome Oscillator (AO) is above 0 and green. Finally the RSI is above 50. The intra-day trend following indicators of AAPL also display uptrends in the 15-Min, 2-Hour and 4-Hour time frames. The near-term support for the stock is observed around the 167.00 to 167.25 price range. Recommendation The recommendation will be to go long at market, with a stop loss at 160 and a target of 205. This produces a risk/reward ratio of 1.42. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
NASDAQ:AAPLLong
by Ceddy86
2
X (United States Steel) - Bearish Double Top & Momentum - DailyX (United States Steel Corporation) stock price has double-topped below $38.57. Bearish momentum (MACD) has down-crossed on a daily time frame. Entry (short): $37.25 Profit Target +12% (exit): $32.76 Stop Loss -6% (exit): $39.49 Utilize stop loss, profit targets, position sizing, and risk management. Note: Many stocks and ETFs have already rallied up for the past two weeks, signs of price potentially topping out have formed. XLB (Materials sector ETF) price has also reached a Resistance Zone and could possibly pull back to the downside. All content is Not financial advice. Trade at your own risk.
NYSE:XShort
by NoFomoCharts
Brent Crude May Form a Big Bullish TriangleA few days ago, America announced the uncapping of strategic oil reserves, which are now at the lowest level in the last 20 years - about 570 million barrels. Regular sales of 1 million barrels per day of oil will lead to their reduction by another third. But today oil quotes are getting more expensive again, as the sale of oil from the US strategic reserve will not compensate for the Russian oil that has fallen out if the calls of French President Emmanuel Macron are heard and EU countries impose an embargo on imports from Russia. These new sanctions should target coal and oil, Macron said. Some European governments insist on imposing additional sanctions against Russia. I will not claim that Europe is hearing Ukraine to provocations and has already chosen Russia in advance as the culprit. The problem is that governments do not want to admit to themselves that the rejection of Russia's hydrocarbons is a big damage to the EU. Russian gas accounts for about 40% of natural gas imports to the EU, and oil accounts for about 25%, Sky News writes. The Germans have revised their views on "green energy" (abandoning nuclear power plants, switching to wind power). According to many economists, the ban on Russian energy supplies will lead to a reduction in German GDP by more than 5%. This decline will be the second largest since the Second World War. The German Economic Institute stated that the imposition of an embargo on oil and gas would lead to incalculable risks. In my opinion, the chances of introducing new sanctions are quite high, which means that oil prices will not only not fall, but may also continue to grow in the medium term. I assume the formation of a large bullish triangle on the daily chart with the stability of the growing trend, which started from the beginning of December 2021. A breakthrough for the maximum on March 24 will be an unambiguous signal for further price growth. Although the first signal to increase will be received if the triangle resistance line is overcome, which falls in the area of $ 117-118 per barrel. PS Does America really want to suppress the rise in gasoline prices? or is she confused about her plans?
OLong
by scavoanastasiia
ProShares Ultra VIX ETF (USA: $UVXY): Good Area To Accumulate 👌UVXY offers daily leveraged exposure to short-term VIX futures, designed to capture the volatility of the S&P 500, in a commodity pool wrapper. As a geared product with daily resets, UVXY is designed as a short-term trading tool and not a long-term investment vehicle. Returns over holding periods greater than one day can be, and often are, significantly different from 1.5x. Like its peer products, UVXY does not deliver leveraged returns on the VIX index itself, but on front- and second-month futures contracts. As a commodity pool, investors will get K-1 at tax time but avoid the counterparty risk of an exchange-traded note. Prior to February 28, 2018, the fund provided 2x leveraged exposure.
CBOE:UVXYLong
by DEXWireNews