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Weeklychart

Significant Moving Averages positions in the S&P500 weekly chartThe 200-SMA of a weekly chart is probably the main indicator of a secular bull market. It's almost never breakdown, except if a crash happens, and then prices usually come back quickly to the uptrend. Or, the other situation, when an extended bear market begins, and in that case, prices will remain under this MA for a while and the battle around it lasts longer. A common pattern that happens in the first several months of a bear is that the prices meet the weekly 200-SMA, they then pullback to the 50-SMA and, after that, we finally have the breakdown of the 200-SMA. This can be noticed in some previous bears, like in 2001, 2008 and in the 1970s. If we take a careful look at the present S&P500 weekly chart, we will see that this pattern has being built in the last months. Prices did approach the 200-SMA, they then did a pullback to the 50-SMA, and now they're facing difficulty to resume the uptrend, the 4200 level is being almost a Great Wall, not to mention that the yield curve has been inverted for 10 months now (this usually predicts a recession within 6 to 18 months). I think that the bear move is the most probable outcome for the next months. So, for that, I consider that we're now at an excellent point to start trading a major bear move. It is important to try to catch the beginning of such a move so we can collect the greatest possible asymmetry. That’s why in the next few days/weeks I will be very attentive to bearish trading signals in the stocks, and, of course, I will post here any trades that I do. PS: An spoiler: I’m feeling the energy sector (XOM, CVX) has the potential to give us bears a lot of joy. But that is yet to be confirmed.
SP:SPXShort
by thessia_
CAMLINFINE breakout with volumeCMP 170.95 | Near 52 Week High | Stock gained more than 20% in one month | Strong Momentum: Price above short, medium and long term moving averages | RSI indicating price strength Camlin Fine Sciences Ltd is the world`s second largest manufacturer and marketer of food grade antioxidants TBHQ and BHA.The company`s product range includes Food Ingredients like Antox TBHQ,Antox BHA ,etc,Sweetener and Active Pharmaceutical Ingredients like Miconazole Nitrate B.P. / USP,Clotrimazole B.P. / USP,Amlodipine Besilate E.P,etc and Super Absorbent Polymer *Not Recommendation. Please do your due diligence
NSE:CAMLINFINELong
by JustIdea
2
META Layoffs: Good or Bad?Most people assume layoffs are going to drive the price of the stock down. NOPE, general consensus on the professional side is the sooner layoffs begin, the faster the company can recover from declining revenues and earnings, and reinvent. META is a stock in a sub-industry that has few members, hence it is used in many ETFs and mutual funds due to that rare sub-industry group. It has some stiff resistance shown best on the weekly chart above current price. But with support from institutional investors, the stronger support level in the bottom formation is likely to hold.
NASDAQ:META
by MarthaStokesCMT-TechniTrader
If loopring validates breakout from its weekly wedge trgt= .55 Here on the weekly we can see price action has overcome the weekly 200ma(in blue) and is about to test the resistance of the weekly 50ma (in orange) it will need to overcome the 50ma to reach the full breakout target, so I’ll be keeping a close eye on how it interacts with the moving average. Most importantly is that it closes the weekly above the wedge as well as the follow up weekly candle. *not financial advice*
COINBASE:LRCUSD
by DrDovetail
2
GRT (the graph) Is confirming breakout from descending channelWe can see here on the weekly chart that GRT (aka The Graph) has broken up from its descending channel and price action is currently very close to the descending channel’s breakout target. Much like many other crypto assets at the moment, we can also see that that descending channel has a large flag pole attached to it as well forming a bear flag. While the descending channel has validated its breakout, it is as of now still uncertain whether or not the bearflag will confirm a bullish breakout as well and pull an inverted Bart pattern. However, CoinMarketCap’s rankings of the “most valuable AI and big data crypto projects and tokens” currently has The Graph as the leading platform in market capitalization. According to Pablo Jodar, a crypto analyst at GenTwo, “I think it is linked to the rally on AI stocks, due to the ChatGPT effect.” Consider all the hype behind AI focused cryptos at the moment this greatly increases the probability that GRT will also confirm the bullish breakout up from the bearflag and reach the higher bearflag target as well. I have posted both targets here on the chart and will update this post once each target is hit. GRT is an indexing protocol that is setting itself up to be the decentralized google for searching blockchains.
COINBASE:GRTUSD
by DrDovetail
3
QNT could also be breaking upward from a monthly bearflagQuant has been hitting multiple double bottom breakout targets in a row on the daily time frame (not shown here) which has taken price action up and above a channel (in red) that I have also been watching on the daily chart. It was after I noticed Gala appeared to be breaking up from a bear flag on its weekly chart that made me decide to flip my qnt chart to the weekly time frame as well, and sure enough, the channel was attached to a long bear pole on the weekly chart making it also a bear flag. If it does break up from the flag the breakout target takes price back up to this blue inv h&s neckline and would then complete the right shoulder…which is the price movement I’ve been anticipating ever since we reversed trend back to the upside, so this measured move target from the flag leading directly back to the neckline makes a lot of sense and adds good bullish confluence….you can see I also have another little dotted green line going slightly higher than the one I put the price tag on. The slightly higher one was when I included the wick in the length of the flagpole and the one closer to the neckline is without including the wick…hard to say which one is more valid as of now. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
1
Will gala break up from its current bear flag?We can see here on the weekly char that Gala is in a bear flag with a very long pole. We can also see that the flag is the shape of a descending channel, a pattern that tends to break upward. When we see a descending channel as a bearish flag it is usually an indication that bears are starting to lose steam.,,,how much steam they are losing will determine whether or not the descending channel wins the dominance battle and it breaks upward or the bearish flag maintains dominance and the pattern breaks downward. If this flag were to break upward instead of downward, the question then becomes will it break upward and then head the entire measured move of the flag but in the bullish direction? Or will it simply just head to the smaller target of the descending channel itself. It’s hard to say but just in case I have put both potential bullish targets on the chart. One other thing it could do is reach the bullish breakout target of the channel and then pull a 180 and still break down below the flag and head to the bearish breakdown measured move target of the flag even after reaching the channels bullish breakout target. Seeing as how the rest of the crypto market recently has begun to see bearish momentum dwindling, I think the bullish outcome has slightly more probability at the moment. Also the measured move for the bear flag breakdown would be negative 20 cents….typical negative targets are a clue that the bullish direction is more likely….always possible for a breakdown to happen at the end of bearish momentum that doesnt hit 100% of its target though. If we take a look at the current volume candle, it is the highest weekly volume candle on this charts history and it happened during a bullish impulse…which is yet more bullish confluence here to suggest a break up from this bear flag is very feasible. *not financial advice*
G
by DrDovetail
4
TMUS Earnings WeekOn Wednesday, TMUS reports its quarterly earnings. The last earnings report saw a gap on the surprise earnings, but overall the price did not do much. TMUS's price has remained rangebound between the high and low of the previous earnings week. Looking at the earnings estimate, analysts are predicting an increase in earnings from the prior quarter and the same quarter last year, which could provide the catalyst needed to break out of this range. TMUS managed to post steady gains over 2022 when the SP500 and the Communications Sector (XLC), the sector in which TMUS is a member, declined. This upward progress shows underlying fundamental strength. The price action leveling off this last quarter could mean a few different things. The response to this earnings report could show it was just price action taking a breath. Stepping back from the TMUS chart, the SPY marked a significant milestone last week by closing above its resistance line that formed during 2022. We also see that XLC is one of the top-performing sectors YTD. A surprise on earnings coupled with a break of the previous earnings week high could mark the beginning of a new strong uptrend for TMUS.
NASDAQ:TMUSLong
by Ronald_Ryninger