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AMGN: A High Probability Buy Setup Amgen Inc. has been trending up since December last year. We can observe that price has recently reached a higher high at the resistance level of 258.00. Therefore, we are only looking for buy entries for this stock. 258.00 is a very strong resistance level; we can see from the past that prices have rejected more than 9 times from this level. After rejections, prices retraced but eventually rose again to retest this level multiple times. Last week, price gapped down from this resistance level, dropping back to the trend line. Therefore, this gives us a great opportunity to buy the pullback. Entry Criteria: We can observe from the past price movement that when the price touched the current ascending trend line, a gap up immediately was formed, followed by a strong bullish momentum sending the price back to the previous high. Therefore, during the next few days, we will be looking for a gap up from the trend line. Then we will place our buy stop orders to capture the bullish momentum. This is a high probability buy setup because many factors support another bullish impulsive movement which could potentially send the price back to retest the recent high.
NASDAQ:AMGNLong
by NicoBeau_Capital
S&P 500 Downfall?The S&P 500 is very close to signalling the start of a potential bear trend in the market, something we have not seen since the 2007-2009 market crash. Yes, we have seen some bearish moves since, but not a long-term bear trend that has lasted for months/years. If this does come to fruition, it will be bad news for bullish investors who have held positions for years. But it will be good news for long-term trend followers who can adapt to market conditions and invest in the direction of current trends. Trend-followers are waiting for the opportune time to place short positions, but that time is not yet, and patience will need to be applied. The reason for us needing to apply patience is because the market can go either way. Price, at the moment, is still inside an area of consolidation and has been since January 4th 2022. When price consolidates, it tends to bounce between the consolidation low support level and the consolidation high resistance level, at $4114 and $4818, respectively. Currently, price is approaching the support level and could just bounce from this level and continue moving sideways between the support and resistance levels mentioned above. But, if price breaks down below support, this will trigger us trend-followers to pay close attention and be ready for a potential long-term bearish opportunity. The first breakout of support is not what we are looking for, as this may turn out to be a fake breakout and catches out the majority of investors. A pattern of lower lows and lower highs below consolidation will give us the signal to look for shorting opportunities. Unless this happens, we will continue to stand aside as we are in an overall bull trend which could resume if the support level holds. We will have to just stay on the sidelines and watch and wait for the right moment. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPX
by Sublime_Trading
2
#SP500 IS IN DOWNTREND CYCLE?#SP500 is in a down phase since March 2022 - On the daily time frame, the bearish structure is forming sustainably with the continuous creation of HL-LL (Higher low, lower low); The price line has lost its balance and is completely below the averages; The important support zone at 4170 has broken down, supporting the mid- and long-term correcting trend; - On weekly time frame, the index is moving sideways with a amplitude of ~10%; we can easily see that a double top pattern is forming, and when combined with a downtrend structure => It is in favor of continuing the strong correcting trend in the next period;
SP:SPXShort
by Truong_Ca
1
NVIDIA WAVE AND PATTERN ANALYSIS The correctional structure, especially the three waves, whether in descending or ascending and pulse correction, indicates the formation of a diametric pattern. For the formation of wave b, which is another sign of diametric wave formation in wave a and g, in 1999 and 2019, respectively, we see diametric waves in their microwaves. In the case of the formation of this structure, we will see a deep decline in many companies listed on the US stock exchange, which will last for several years and we are at the beginning of a possible major recession. This post is just a personal idea and analysis should not be the criterion for buying or selling
NASDAQ:NVDAShort
by Sina-TFX
22
NASDAQ - Is the stock market alive now?NASDAQ. US100. Under technical terms, and by using the principles of the Elliott Wave Theory, the market is likely to remain bearish for a longer duration after making a correction bullish wave. The previous move can be termed as wave 1 consisting of 5 sub-waves, and we can expect a corrective pattern up to 50% - 61.8% fib. level. We can also assume that there is a lot of fear in the stock market in this current situation. Because of this, investors may start selling off at the technical levels. Furthermore, we have been expecting an interest rate hike this year (actually multiple times?), and we might get to see that happen soon. While the market may go up in the next few weeks (corrective move?), there are far more reasons for a decline in the coming months. Manage risk while trading / Investing. This analysis is based on the Elliott Wave Theory and the current fundamentals with some expectations/assumptions.
U
by sKeshav
S&P 500 by CryptoTradersWWYesterday was a day of extreme volatility, as expected. The US stock market has lost a key support level and is again retesting this zone, which is currently acting as resistance. If we have a rejection on a retest like this, we will see more downward movement. As we all know, once the New York session begins, the US Market has a strong link with BTC, anticipating market changes. <----------------------------> ☑️ Follow, Comment & Like ☑️ Create a civil and healty discuss in the comments and share with me your thoughts Thanks and Happy Trading!
CME_MINI:ES1!
by CryptoTradersWW
FACEBOOK : 44% Down! Should you invest?Facebook is almost 45% down from its top. There was some news of its daily user which plunges the stock to drag down. But, fundamentally speaking it has strong financials. Currently it is testing the FY Low of 2021 and a strong Financial Quarter (FQ) high of 2020 7 also hedging towards a strong Monthly level near 210 $ making 215 $-210 $ a strong support level. Leta watch and study the price action at those levels. Please do write in comment section about your views. Thank You! Happy Investing! NB: The chart analysis is for educational purpose only. Its full my personnel view. Place your trade/investment before consulting your financial advisor only.
NASDAQ:METALong
by souravpal_123
12
SP500 4 possible scenariosSP500 has shown some weakness in the beginning of 2022... All of us know that one of the most important reason behind such a 12% drawdown is Fed hawkishness... At the time of writing smart money traders are pricing at least 5 interest rate hikes by the end of 2022, which is obviously putting pressure on the US stock market. ''Money today worth more than money tomorrow'' In addition to that we'll have QT most probably from the second quarter of this year. On the chart I am showing 4 possible scenarios (maybe someone will see even more) of price movement from technical POV. Fundamentally speaking I think and believe that we are going to see ATH this year around 4950-5000 zone at least. Also it is quite possible that we will see another lower low this year. This week we had great results from such tech giants as MSFT and AAPL, which in my opinion is and will remain one of the most important bullish supporter. We can see a very weak momentum and RSI or MACD indicators in the oversold territory. Also, huge volumes entered the market on the ''panic'' last week. I hope to see a strong rebound in the short-mid term. All the best, GIgor_021 #tothemoon
ULong
by GIgor_021